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REGISTERED NUMBER: 11491847 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

CLIFFESTONES PROPERTIES LIMITED

CLIFFESTONES PROPERTIES LIMITED (REGISTERED NUMBER: 11491847)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


CLIFFESTONES PROPERTIES LIMITED (REGISTERED NUMBER: 11491847)

BALANCE SHEET
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 206,045 211,055
Investment property 5 9,145,217 9,242,516
9,351,262 9,453,571

CURRENT ASSETS
Debtors 6 109,825 20,782
Cash at bank 47,173 23,429
156,998 44,211
CREDITORS
Amounts falling due within one year 7 4,661,389 4,926,159
NET CURRENT LIABILITIES (4,504,391 ) (4,881,948 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,846,871

4,571,623

CREDITORS
Amounts falling due after more than one
year

8

(301,000

)

-

PROVISIONS FOR LIABILITIES 9 (397,646 ) (418,798 )
NET ASSETS 4,148,225 4,152,825

CAPITAL AND RESERVES
Called up share capital 10 650,449 650,449
Share premium 2,044,275 2,044,275
Fair value reserve 11 1,189,893 1,252,143
Retained earnings 263,608 205,958
SHAREHOLDERS' FUNDS 4,148,225 4,152,825

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CLIFFESTONES PROPERTIES LIMITED (REGISTERED NUMBER: 11491847)

BALANCE SHEET - continued
31 JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2024 and were signed on its behalf by:





C J Blundell - Director


CLIFFESTONES PROPERTIES LIMITED (REGISTERED NUMBER: 11491847)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Cliffestones Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11491847

Registered office: Mount St John
Felixkirk
Thirsk
North Yorkshire
YO7 2DT

The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents rents received and receivable, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost (excluding freehold land)
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Office equipment - 25% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


CLIFFESTONES PROPERTIES LIMITED (REGISTERED NUMBER: 11491847)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Office
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 August 2022
and 31 July 2023 208,766 2,000 242 5,640 216,648
DEPRECIATION
At 1 August 2022 3,379 910 3 1,301 5,593
Charge for year 3,401 163 36 1,410 5,010
At 31 July 2023 6,780 1,073 39 2,711 10,603
NET BOOK VALUE
At 31 July 2023 201,986 927 203 2,929 206,045
At 31 July 2022 205,387 1,090 239 4,339 211,055

Included in cost of land and buildings is freehold land of £ 38,700 (2022 - £ 38,700 ) which is not depreciated.

CLIFFESTONES PROPERTIES LIMITED (REGISTERED NUMBER: 11491847)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 9,242,516
Disposals (97,299 )
At 31 July 2023 9,145,217
NET BOOK VALUE
At 31 July 2023 9,145,217
At 31 July 2022 9,242,516

The historic cost of investment properties was £7,558,692 (2022: £7,572,992).

The investment property was valued on an open market basis on 31 July 2023 by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 17,019 2,474
Other debtors 68,519 3,000
Prepayments and accrued income 24,287 15,308
109,825 20,782

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 23,268 28,691
Amounts owed to group undertakings 2,399,902 2,400,152
Corporation tax 3,190 6,402
VAT 3,779 -
Directors' current accounts 2,189,442 2,475,588
Accruals and deferred income 41,808 15,326
4,661,389 4,926,159

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Other creditors 301,000 -

9. PROVISIONS FOR LIABILITIES
31.7.23 31.7.22
£    £   
Deferred tax 397,646 418,798

CLIFFESTONES PROPERTIES LIMITED (REGISTERED NUMBER: 11491847)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 August 2022 418,798
Credit to Profit and Loss Account during year (21,152 )
Balance at 31 July 2023 397,646

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
650,449 Ordinary £1 650,449 650,449

11. RESERVES
Fair
value
reserve
£   
At 1 August 2022 1,252,143
Transfer from fair value
reserve (62,250 )

At 31 July 2023 1,189,893