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REGISTERED NUMBER: 13246080 (England and Wales)









Financial Statements

for the Year Ended 31 October 2023

for

CL Investments 6 Ltd

CL Investments 6 Ltd (Registered number: 13246080)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CL Investments 6 Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: M K Rodwell
Mrs L C Sidoli





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 13246080 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

CL Investments 6 Ltd (Registered number: 13246080)

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 18,400,000 17,650,000

CURRENT ASSETS
Debtors 5 267,589 195,235
Cash at bank 6 36,307 354,008
303,896 549,243
CREDITORS
Amounts falling due within one year 7 (13,667,747 ) (14,561,650 )
NET CURRENT LIABILITIES (13,363,851 ) (14,012,407 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,036,149

3,637,593

PROVISIONS FOR LIABILITIES (656,325 ) (507,782 )
NET ASSETS 4,379,824 3,129,811

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 4,379,823 3,129,810
4,379,824 3,129,811

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 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by:





M K Rodwell - Director


CL Investments 6 Ltd (Registered number: 13246080)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

CL Investments 6 Ltd 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Income comprises rent receivable from investment properties net of value added tax and is recognised on an accruals basis. Benefits provided to lessees in the form of rent free periods and capital contributions are treated as a reduction in the overall return on the lease and are recognised on a straight line basis over the full term of the lease.

Investment property
Initial measurement
Investment properties are initially measured at cost.

Subsequent measurement
Investment properties are measured at fair value at each reporting date with changes in fair values recognised in profit or loss. No depreciation is provided in respect of investment properties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
At 31 October 2023, the company had a net current liability position. The company continues to be operationally profitable and therefore the financial statements have been prepared on going concern basis.

Cash at bank
Included in cash at bank are certain bank accounts with cash balances which are under the control of the lender as stipulated in the bank loan agreement. Rental receipts (excluding VAT) are paid into this account and are released by the lender after the deduction of the bank loan interest.

CL Investments 6 Ltd (Registered number: 13246080)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 17,650,000
Additions 155,828
Revaluations 594,172
At 31 October 2023 18,400,000
NET BOOK VALUE
At 31 October 2023 18,400,000
At 31 October 2022 17,650,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2023 18,400,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 15,774,700 15,618,872

The investment properties were valued on an open market basis on 31 October 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 42,642 31,522
Amounts owed by group undertakings 1 1
Other debtors 164,009 149,021
Prepayments & accrued income 60,937 14,691
267,589 195,235

6. CASH AT BANK

Included in cash at bank are certain bank accounts with cash balances which are under the control of the lender as stipulated in the bank loan agreement. Rental receipts (excluding VAT) are paid into this account and are released by the lender after the deduction of the bank loan interest. At the period end, the amount included in the cash at bank total under the control of the lender amounted to £1,095 (2022: £39).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 10,176 8,340
Amounts owed to group undertakings 13,250,282 14,113,269
Tax 99,898 156,840
Value added tax 33,034 41,522
Other creditors 92,054 65,719
Accruals & deferred income 182,303 175,960
13,667,747 14,561,650

CL Investments 6 Ltd (Registered number: 13246080)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The loan from group undertaking is interest free and repayable on demand.

8. CONTINGENT LIABILITIES

As part of a group bank loan in its immediate parent undertaking, C L Investments Holdings Ltd, the lender has a mortgage over the company's investment property and a floating charge over all assets.

9. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 402,530 -

10. PARENT UNDERTAKING

The smallest group in which the results of the company are consolidated is headed by C L Investments Holdings Ltd, a company registered in United Kingdom. The registered office of C L Investments Holdings Ltd is 28 Church Road, Stanmore, Middlesex, HA7 4XR.

11. RETAINED EARNINGS

The retained earnings of £4,379,823 (2022: £3,129,810) comprise of distributable reserves of £2,410,848 (2022: £1,606,464) and non-distributable reserves of £1,968,975 (2022: £1,523,346) which relate to property revaluations less related deferred tax provision.