Registered number
12120108
G Clear Properties Ltd
Filleted Accounts
31 July 2023
G Clear Properties Ltd
Registered number: 12120108
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,050,682 745,354
Current assets
Cash at bank and in hand 3,661 8,795
Creditors: amounts falling due within one year 4 (798,544) (477,683)
Net current liabilities (794,883) (468,888)
Total assets less current liabilities 255,799 276,466
Creditors: amounts falling due after more than one year 5 (306,609) (306,618)
Net liabilities (50,810) (30,152)
Capital and reserves
Called up share capital 100 100
Profit and loss account (50,910) (30,252)
Shareholders' funds (50,810) (30,152)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J D Rolfe
Director
Approved by the board on 2 April 2024
G Clear Properties Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 741,267 7,267 748,534
Additions 306,350 - 306,350
At 31 July 2023 1,047,617 7,267 1,054,884
Depreciation
At 1 August 2022 - 3,180 3,180
Charge for the year - 1,022 1,022
At 31 July 2023 - 4,202 4,202
Net book value
At 31 July 2023 1,047,617 3,065 1,050,682
At 31 July 2022 741,267 4,087 745,354
4 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 519,792 246,792
Directors Loan Account 278,752 230,891
798,544 477,683
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 306,609 306,618
6 Other information
G Clear Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Raydean House
15 Western Parade
Barnet
Herts
EN5 1AH
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