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REGISTERED NUMBER: 11823218 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

CLERKENWELL ESTATES LIMITED

CLERKENWELL ESTATES LIMITED (REGISTERED NUMBER: 11823218)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLERKENWELL ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: M Jakisic





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 11823218 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

CLERKENWELL ESTATES LIMITED (REGISTERED NUMBER: 11823218)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,300,000 1,200,000

CURRENT ASSETS
Debtors 5 429,085 396,011
Cash at bank 3,811 32,454
432,896 428,465
CREDITORS
Amounts falling due within one year 6 900,345 900,282
NET CURRENT LIABILITIES (467,449 ) (471,817 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

832,551

728,183

CREDITORS
Amounts falling due after more than one
year

7

(779,119

)

(790,376

)

PROVISIONS FOR LIABILITIES (38,250 ) (10,070 )
NET ASSETS/(LIABILITIES) 15,182 (72,263 )

CAPITAL AND RESERVES
Called up and paid share capital 100 100
Revaluation reserve 9 114,751 42,931
Retained earnings (99,669 ) (115,294 )
15,182 (72,263 )

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

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

The director acknowledges his 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.

CLERKENWELL ESTATES LIMITED (REGISTERED NUMBER: 11823218)

BALANCE SHEET - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 July 2024 and were signed by:





M Jakisic - Director


CLERKENWELL ESTATES LIMITED (REGISTERED NUMBER: 11823218)

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


1. STATUTORY INFORMATION

Clerkenwell Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 relates to the provision of services. Turnover is measured at the fair value of the consideration received or receivable and is recognised in the period to which it relates.

Investment property
Investment property is initially recorded at cost and subsequently at fair value, with fair value gains or losses being recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

CLERKENWELL ESTATES LIMITED (REGISTERED NUMBER: 11823218)

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


2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on the going concern basis, on the understanding that the company will receive continued support from the debtors and creditors for a period of at least 12 months from the date of these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 1,200,000
Revaluations 100,000
At 31 October 2023 1,300,000
NET BOOK VALUE
At 31 October 2023 1,300,000
At 31 October 2022 1,200,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2023 1,300,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 429,085 396,011

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,116 11,113
Other creditors 889,229 889,169
900,345 900,282

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 779,119 790,376

CLERKENWELL ESTATES LIMITED (REGISTERED NUMBER: 11823218)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 761,281 761,281

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 761,281 761,281

The loan is secured by way of a charge over the investment property held by the company.

9. RESERVES

The revaluation reserve is a non-distributable reserve relating to fair value gains or losses on the revaluation of the investment property, net of related deferred tax.

10. RELATED PARTY DISCLOSURES

Included in other debtors are amounts owing of £429,085 (2022 - £396,012) from companies under the control of the director.

Included in other creditors are amounts owed of £496,766 (2022 - £495,476) to companies under the control of the director.

These loans are interest free and repayable on demand.