Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3122023-04-01falseProperty investment1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12486146 2023-04-01 2024-03-31 12486146 2022-04-01 2023-03-31 12486146 2024-03-31 12486146 2023-03-31 12486146 c:Director1 2023-04-01 2024-03-31 12486146 d:LeaseholdInvestmentProperty 2024-03-31 12486146 d:LeaseholdInvestmentProperty 2023-03-31 12486146 d:CurrentFinancialInstruments 2024-03-31 12486146 d:CurrentFinancialInstruments 2023-03-31 12486146 d:Non-currentFinancialInstruments 2024-03-31 12486146 d:Non-currentFinancialInstruments 2023-03-31 12486146 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12486146 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12486146 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 12486146 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12486146 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 12486146 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 12486146 d:ShareCapital 2024-03-31 12486146 d:ShareCapital 2023-03-31 12486146 d:RetainedEarningsAccumulatedLosses 2024-03-31 12486146 d:RetainedEarningsAccumulatedLosses 2023-03-31 12486146 c:OrdinaryShareClass1 2023-04-01 2024-03-31 12486146 c:OrdinaryShareClass1 2024-03-31 12486146 c:OrdinaryShareClass1 2023-03-31 12486146 c:FRS102 2023-04-01 2024-03-31 12486146 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12486146 c:FullAccounts 2023-04-01 2024-03-31 12486146 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 12486146














CL GEORGE REAL ESTATE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
CL GEORGE REAL ESTATE LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
CL GEORGE REAL ESTATE LIMITED
REGISTERED NUMBER:12486146

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
9,598,100
9,650,132

Current assets
  

Debtors: amounts falling due within one year
 5 
61,053
57,564

Bank and cash balances
  
42,123
11,049

  
103,176
68,613

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(10,322,139)
(2,894,744)

Net current liabilities
  
 
 
(10,218,963)
 
 
(2,826,131)

Total assets less current liabilities
  
(620,863)
6,824,001

Creditors: amounts falling due after more than one year
 7 
-
(7,198,575)

Net liabilities
  
(620,863)
(374,574)


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
(620,864)
(374,575)

  
(620,863)
(374,574)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
CL GEORGE REAL ESTATE LIMITED
REGISTERED NUMBER:12486146
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 August 2024.





D Lu
Director

Page 2

 
CL GEORGE REAL ESTATE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

CL George Real Estate Limited is a private limited liability company incorporated in England and Wales, with its registered office at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the company is that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company's activities are funded by an interest free loan from the director, who is also the sole shareholder. At the reporting date, the Company owed £10,091,366 (2023 - £2,890,244) to the director and this is included in other creditors. The director has prepared the financial statements on a going concern basis on the assumption that the director will continue to provide such financial support as may be required by the Company to meet its liabilities as they fall due for at least 12 months following the date of approval of the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling..

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Turnover comprises revenue recognised by the company in respect of rent receivable, exclusive of Value Added Tax.
Rent is recognised in the period to which it relates.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
CL GEORGE REAL ESTATE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short term debtors are measured at the transaction price.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short term creditors are measured at the transaction price. 

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.


3.


Employees

The average monthly number of employees, including the director, during the year was 2 (2023 - 1).

Page 4

 
CL GEORGE REAL ESTATE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 April 2023
9,598,100



At 31 March 2024
9,598,100

The 2024 valuations were made by the director, on an open market value for existing use basis.



At 31 March 2024





5.


Debtors

2024
2023
£
£


Trade debtors
31,825
47,421

Other debtors
-
1,000

Prepayments
29,228
9,143

61,053
57,564



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
1,119
-

Other creditors
10,205,517
2,890,244

Accruals and deferred income
115,503
4,500

10,322,139
2,894,744


Page 5

 
CL GEORGE REAL ESTATE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
7,198,575





8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due after more than 5 years

Bank loans
-
7,198,575



9.


Share capital

2024
2023
£
£
Allotted, called up and partly paid



1 (2023 - 1) Ordinary share of £1.00
1
1


 
Page 6