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REGISTERED NUMBER: 11328462 (England and Wales)















Clear Property (NW) Commercial Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Clear Property (NW) Commercial Limited (Registered number: 11328462)






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) Commercial 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: 11328462 (England and Wales)





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

Clear Property (NW) Commercial Limited (Registered number: 11328462)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment property 4 1,311,000 1,311,000

CURRENT ASSETS
Debtors 5 2,499 2,330
Cash at bank 856 6,465
3,355 8,795
CREDITORS
Amounts falling due within one year 6 404,120 542,415
NET CURRENT LIABILITIES (400,765 ) (533,620 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

910,235

777,380

PROVISIONS FOR LIABILITIES 8 43,131 43,131
NET ASSETS 867,104 734,249

CAPITAL AND RESERVES
Called up share capital 9 1 1
Fair value reserve 10 129,394 129,394
Retained earnings 10 737,709 604,854
SHAREHOLDERS' FUNDS 867,104 734,249

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) Commercial Limited (Registered number: 11328462)

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) Commercial Limited (Registered number: 11328462)

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

1. STATUTORY INFORMATION

Clear Property (NW) Commercial 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.

Turnover
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
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 statement of income. 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) Commercial Limited (Registered number: 11328462)

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,311,000
NET BOOK VALUE
At 31 March 2024 1,311,000
At 31 March 2023 1,311,000

The investment properties were valued in May 2023 by Duxburys Chartered Surveyors, for the sum of £1,311,000 carried out in accordance with the RICS Valuation-Global Standards ("The Red Book") on an open market value basis. The directors have committed to future periodic valuations which will be performed as appropriate. The historic cost of the property is £1,138,475.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 2,289 2,174
Prepayments and accrued income 210 156
2,499 2,330

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed to group undertakings 384,428 516,714
Taxation and social security 15,959 22,101
Other creditors 3,733 3,600
404,120 542,415

Clear Property (NW) Commercial Limited (Registered number: 11328462)

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

7. SECURED DEBTS

There is a cross guarantee in place between Clear Property (NW) Commercial Limited and Clear Property (NW) Limited in the name of Lloyds Bank PLC, which is a fixed and floating charge on the property in these financial statements.

8. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax
Other timing differences 43,131 43,131

Deferred tax
£
Balance at 1 April 2023 43,131
Balance at 31 March 2024 43,131

Deferred tax has been calculated using a rate of 25%.

9. CALLED UP SHARE CAPITAL

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

10. RESERVES
Retained Fair value
earnings reserve Totals
£ £ £

At 1 April 2023 604,854 129,394 734,248
Profit for the year 132,855 132,855
At 31 March 2024 737,709 129,394 867,103

The fair value reserve is stated net of deferred taxation of £43,131.

11. 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.

12. 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.