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REGISTERED NUMBER: 09998752 (England and Wales)









CLEARSTREAM PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






CLEARSTREAM PROPERTY LIMITED (REGISTERED NUMBER: 09998752)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLEARSTREAM PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mrs K R Day
Mr R Day





REGISTERED OFFICE: Island House
Hill Lane
East Harting
West Sussex
GU31 5LT





REGISTERED NUMBER: 09998752 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

CLEARSTREAM PROPERTY LIMITED (REGISTERED NUMBER: 09998752)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,851 1,352
Investment property 6 2,676,000 2,630,000
2,677,851 2,631,352

CURRENT ASSETS
Cash at bank 4,199 6,942

CREDITORS
Amounts falling due within one year 7 671,158 740,641
NET CURRENT LIABILITIES (666,959 ) (733,699 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,010,892

1,897,653

CREDITORS
Amounts falling due after more than one
year

8

(2,031,238

)

(2,017,636

)

PROVISIONS FOR LIABILITIES (163,440 ) (151,815 )
NET LIABILITIES (183,786 ) (271,798 )

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 488,930 454,430
Retained earnings (672,816 ) (726,328 )
SHAREHOLDERS' FUNDS (183,786 ) (271,798 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

CLEARSTREAM PROPERTY LIMITED (REGISTERED NUMBER: 09998752)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2024 and were signed on its behalf by:





Mrs K R Day - Director


CLEARSTREAM PROPERTY LIMITED (REGISTERED NUMBER: 09998752)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Clearstream Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable during the period. Rental income is recognised on the basis of amounts due in the period.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fee are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method


CLEARSTREAM PROPERTY LIMITED (REGISTERED NUMBER: 09998752)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Going concern
The company has the continued financial support of its directors, who have agreed not to request repayment of their loans until the company has the funds available. On this basis the directors of Clearstream Property Limited consider it appropriate to prepare accounts on the going concern basis. These financial statements do not include any adjustments that would result in the company suffering further trading losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023 27,600
Disposals (27,600 )
At 29 February 2024 -
AMORTISATION
At 1 March 2023 27,600
Eliminated on disposal (27,600 )
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

CLEARSTREAM PROPERTY LIMITED (REGISTERED NUMBER: 09998752)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 49,834
Additions 1,789
At 29 February 2024 51,623
DEPRECIATION
At 1 March 2023 48,482
Charge for year 1,290
At 29 February 2024 49,772
NET BOOK VALUE
At 29 February 2024 1,851
At 28 February 2023 1,352

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 2,630,000
Revaluations 46,000
At 29 February 2024 2,676,000
NET BOOK VALUE
At 29 February 2024 2,676,000
At 28 February 2023 2,630,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2018 91,100
Valuation in 2019 36,235
Valuation in 2021 89,354
Valuation in 2023 389,217
Valuation in 2024 46,000
Cost 2,024,094
2,676,000

CLEARSTREAM PROPERTY LIMITED (REGISTERED NUMBER: 09998752)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
as restated
£    £   
Cost 1,985,381 1,985,381

Investment property was valued on an open market basis on 28 February 2024 by the directors .

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Taxation and social security 3,779 3,869
Other creditors 667,379 736,772
671,158 740,641

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Bank loans 2,031,238 2,017,636

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,031,238 2,017,636

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank loans 2,031,238 2,017,636

The loan is secured by a first legal charge over the property.