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Registration number: 10006820

C&L Investments Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024

 

C&L Investments Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

C&L Investments Limited

(Registration number: 10006820)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

317,601

317,601

Current assets

 

Debtors

5

-

60

Cash at bank and in hand

 

3,115

2,568

 

3,115

2,628

Creditors: Amounts falling due within one year

6

(127,333)

(126,303)

Net current liabilities

 

(124,218)

(123,675)

Total assets less current liabilities

 

193,383

193,926

Creditors: Amounts falling due after more than one year

6

(232,985)

(232,923)

Net liabilities

 

(39,602)

(38,997)

Capital and reserves

 

Called up share capital

20

20

Retained earnings

(39,622)

(39,017)

Shareholders' deficit

 

(39,602)

(38,997)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 June 2024 and signed on its behalf by:
 

.........................................
Mr Chay Ruston Hedger
Director

 

C&L Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Bracey's Accountants Limited
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW

These financial statements were authorised for issue by the Board on 6 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The balance sheet has net liabilities, the director has pledged on going support and as such the financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration for rental income on the investment property. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

C&L Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is meausre at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 March

317,601

At 29 February

317,601

There has been no valuation of investment property by an independent valuer, in the period and is considered fair value.

There is a mortgage attached to the investment property and the amount is secured by a charge on the relevant asset.

5

Debtors

Current

2024
£

2023
£

Prepayments

-

60

 

-

60

 

C&L Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

2,190

2,160

Other creditors

125,143

124,143

127,333

126,303

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

232,985

232,923

The bank loan is secured by fixed and floating charges over the property held by the company.

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

20

20

20

20

         

8

Related party transactions

Other transactions with directors

At the company year end the company owed the directors £228 (2023: £228). There is no set repayment term or interest being charged.

9

Parent and ultimate parent undertaking

The ultimate controlling party is Chay and Lorraine Hedger as joint shareholders.

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

232,985

232,923