Company Registration No. 0963721 (England and Wales)
Clennon Developments Limited
Unaudited accounts
for the year ended 30 April 2024
Clennon Developments Limited
Unaudited accounts
Contents
Clennon Developments Limited
Company Information
for the year ended 30 April 2024
Directors
Mrs R A Polson
Mr N J Procter
Mrs K V Pearson
Mrs V J Procter
Company Number
0963721 (England and Wales)
Registered Office
1 Orchard Road
Ashburton
Newton Abbot
TQ13 7RL
Accountants
Newnham & Son Ltd
School Master's House
39 College Street
Petersfield
Hampshire
GU31 4AG
Clennon Developments Limited
Statement of financial position
as at 30 April 2024
Tangible assets
1,958
2,610
Investment property
680,000
680,000
Cash at bank and in hand
147,179
253,742
Creditors: amounts falling due within one year
(8,352)
(6,863)
Net current assets
138,920
246,879
Total assets less current liabilities
820,878
929,489
Creditors: amounts falling due after more than one year
(7,950)
(7,950)
Provisions for liabilities
Deferred tax
(75,469)
(75,469)
Net assets
737,459
846,070
Called up share capital
999
999
Profit and loss account
736,460
845,071
Shareholders' funds
737,459
846,070
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2024 and were signed on its behalf by
Mrs R A Polson
Director
Company Registration No. 0963721
Clennon Developments Limited
Notes to the Accounts
for the year ended 30 April 2024
Clennon Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 0963721. The registered office is 1 Orchard Road , Ashburton, Newton Abbot, TQ13 7RL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Licences are held at cost and not amortised
Computer equipment
25% reducing balance
Work in progress have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The accounts are presented in £ sterling.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Clennon Developments Limited
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Land & buildings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2023
1
7,794
7,795
At 30 April 2024
1
7,794
7,795
At 1 May 2023
-
5,185
5,185
Charge for the year
-
652
652
At 30 April 2024
-
5,837
5,837
At 30 April 2024
1
1,957
1,958
At 30 April 2023
1
2,609
2,610
Fair value at 1 May 2023
680,000
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,707
2,854
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
7,950
7,950
Allotted, called up and fully paid:
900 Ordinary A shares of £1 each
900
900
30 Ordinary B shares of £1 each
30
30
30 Ordinary C shares of £1 each
30
30
30 Ordinary D shares of £1 each
30
30
9 Ordinary E shares of £1 each
9
9
Clennon Developments Limited
Notes to the Accounts
for the year ended 30 April 2024
10
Transactions with related parties
During the year the company made the following related party transactions:
Mrs R A Polson (Director)
During the year, fees payable of £4,465.50 (2023 - £4,465.50) have been made to Space Asset Limited, the proprietor of which is Mrs R A Polson. During the year, dividends of £10,000 (2023 - £Nil) have been paid to Mrs R A Polson. At the balance sheet date the amount due from Mrs R A Polson was £Nil (2023 - £NIL).
Mr N J & Mrs A J Procter (Director and wife)
During the year, dividends of £5,000 (2023 - £Nil) have been paid to Mrs A J Procter. At the balance sheet date the amount due from Mr N J & Mrs A J Procter was £Nil (2023 - £NIL).
Mrs K V Pearson (Director)
During the year, fees payable of £1,043 (2023 - £1,293) have been made to Mrs K V Pearson. During the year, dividends of £10,000 (2023 - £Nil) have been paid to Mrs K V Pearson. At the balance sheet date the amount due from Mrs K V Pearson was £Nil (2023 - £Nil).
Mrs V J Procter (Director)
During the year, dividends of £5,000 (2023 - £2,500) have been paid to Mrs V J Procter. At the balance sheet date the amount due to Mrs V J Procter was £Nil (2023 - £Nil).
11
Average number of employees
During the year the average number of employees was 0 (2023: 0).