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REGISTERED NUMBER: 09706576 (England and Wales)















Clear Property (NW) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Clear Property (NW) Limited (Registered number: 09706576)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clear Property (NW) Limited

Company Information
for the year ended 31 March 2024







DIRECTOR: AJ Mollart





REGISTERED OFFICE: 28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA





REGISTERED NUMBER: 09706576 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Clear Property (NW) Limited (Registered number: 09706576)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 1,562 -
Investment property 5 1,353,644 1,110,000
1,355,206 1,110,000

CURRENT ASSETS
Debtors 6 533,584 580,000
Cash at bank 11,090 9,008
544,674 589,008
CREDITORS
Amounts falling due within one year 7 2,259,203 1,586,080
NET CURRENT LIABILITIES (1,714,529 ) (997,072 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(359,323

)

112,928

CREDITORS
Amounts falling due after more than one
year

8

-

(395,737

)

PROVISIONS FOR LIABILITIES 10 (5,710 ) (4,043 )
NET LIABILITIES (365,033 ) (286,852 )

CAPITAL AND RESERVES
Called up share capital 11 1 1
Fair value reserve 12 97,404 98,681
Retained deficit 12 (462,438 ) (385,534 )
SHAREHOLDERS' FUNDS (365,033 ) (286,852 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Clear Property (NW) Limited (Registered number: 09706576)

Balance Sheet - continued
31 March 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 director and authorised for issue on 6 August 2024 and were signed by:





AJ Mollart - Director


Clear Property (NW) Limited (Registered number: 09706576)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Clear Property (NW) 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 (£).


The amounts in the financial statements have been rounded to the nearest £1.

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.

Going concern
At the balance sheet date the company had an excess of liabilities over assets. The financial statements have been prepared on a going concern basis as one of the directors, who ultimately owns the entire share capital of the company, has confirmed that he will continue to provide financial support to the company for the foreseeable future.

Turnover
Turnover represents rental income invoiced in the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Investment property
In accordance with Financial Reporting Standard 102, certain of the company's properties are held for long-term investment and are included in the Balance Sheet at their fair values. Fair value gains and losses are recognised in the income statement. Deferred taxation is provided on fair value gains at the rate expected to apply when the property is sold.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

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.


Clear Property (NW) Limited (Registered number: 09706576)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 April 2023 613
Additions 1,684
At 31 March 2024 2,297
DEPRECIATION
At 1 April 2023 613
Charge for year 122
At 31 March 2024 735
NET BOOK VALUE
At 31 March 2024 1,562
At 31 March 2023 -

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2023 1,110,000
Additions 243,644
At 31 March 2024 1,353,644
NET BOOK VALUE
At 31 March 2024 1,353,644
At 31 March 2023 1,110,000


Clear Property (NW) Limited (Registered number: 09706576)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 2,891 2,549
Amounts owed by group undertakings 384,428 516,714
Other debtors 62 140
Prepayments and accrued income 146,203 60,597
533,584 580,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 1,280,294 921,544
Trade creditors 9,356 12,233
Amounts owed to group undertakings 958,663 643,535
Other creditors 10,890 8,768
2,259,203 1,586,080

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 395,737

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 1,280,294 1,317,281

The bank loans are secured on the properties in the company by a fixed and floating charge.

Interest is payable on the loans at between 2.35% and 2.5% over the Bank of England base rate.

10. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax
Accelerated capital allowances 390 -
Other timing differences 5,320 4,043
5,710 4,043

Clear Property (NW) Limited (Registered number: 09706576)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 April 2023 4,043
Provided during year 1,667
Balance at 31 March 2024 5,710

Deferred tax has been calculated using a flat rate of 25% (2023 25%)

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1 Ordinary £1.00 1 1

12. RESERVES
Retained Fair value
deficit reserve Totals
£ £ £

At 1 April 2023 (385,534 ) 98,681 (286,853 )
Deficit for the year (78,181 ) (78,181 )
Transfer between reserves 1,277 (1,277 ) -
At 31 March 2024 (462,438 ) 97,404 (365,034 )

13. RELATED PARTY DISCLOSURES

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.

14. ULTIMATE CONTROLLING PARTY

In the opinion of the directors the company is controlled by the parent company Clear Companies Limited, which has held 100% of the share capital since incorporation.