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REGISTERED NUMBER: 07068620 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Clerks Well Properties Limited

Clerks Well Properties Limited (Registered number: 07068620)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clerks Well Properties Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: B N Gorst
V J Gorst
A Canty
J Buss





REGISTERED OFFICE: 290 High Street
Aldeburgh
Suffolk
IP15 5DQ





REGISTERED NUMBER: 07068620 (England and Wales)





ACCOUNTANTS: Hans Accounting Ltd
Chartered Certified Accountants
Buckingham House East
Buckingham Parade
Stanmore
Middlesex
HA7 4EB

Clerks Well Properties Limited (Registered number: 07068620)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 9,337,831 9,337,831
Investment property 5 22,688,750 22,700,000
32,026,581 32,037,831

CURRENT ASSETS
Debtors 6 678,941 220,059
Cash at bank 173,360 93,445
852,301 313,504
CREDITORS
Amounts falling due within one year 7 18,485,335 14,460,044
NET CURRENT LIABILITIES (17,633,034 ) (14,146,540 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,393,547

17,891,291

PROVISIONS FOR LIABILITIES - 512,192
NET ASSETS 14,393,547 17,379,099

CAPITAL AND RESERVES
Called up share capital 300,005 300,005
Share premium 3,064,409 3,064,409
Fair value reserve 8 (1,522,759 ) 2,183,556
Retained earnings 12,551,892 11,831,129
SHAREHOLDERS' FUNDS 14,393,547 17,379,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

Clerks Well Properties Limited (Registered number: 07068620)

Balance Sheet - continued
31 December 2023


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 Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





B N Gorst - Director


Clerks Well Properties Limited (Registered number: 07068620)

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

1. STATUTORY INFORMATION

Clerks Well Properties 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.

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, modified to include investment property at fair value.

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
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised through the Fair value reserve.

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.

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 (2022 - NIL).

Clerks Well Properties Limited (Registered number: 07068620)

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

4. FIXED ASSET INVESTMENTS
Interest
in joint Other
venture investments Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 308,966 9,028,865 9,337,831
NET BOOK VALUE
At 31 December 2023 308,966 9,028,865 9,337,831
At 31 December 2022 308,966 9,028,865 9,337,831

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 22,700,000
Additions 4,564,448
Revaluations (4,575,698 )
At 31 December 2023 22,688,750
NET BOOK VALUE
At 31 December 2023 22,688,750
At 31 December 2022 22,700,000

The figures stated for the investment properties are all based on valuations provided by a director of the company, who is a retired member of the Royal Institution of Chartered Surveyors.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2018 9,329,722
Valuation in 2019 (95,081 )
Valuation in 2020 (4,857,912 )
Valuation in 2021 4,271,478
Valuation in 2022 (5,952,459 )
Valuation in 2023 (4,575,698 )
Cost 24,568,700
22,688,750

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 22,730 -
Other debtors 656,211 220,059
678,941 220,059

Clerks Well Properties Limited (Registered number: 07068620)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 18,485,335 14,460,044

8. RESERVES
Fair
value
reserve
£   
At 1 January 2023 2,183,556
Valuation net of deferred tax (3,706,315 )

At 31 December 2023 (1,522,759 )

9. RELATED PARTY DISCLOSURES

Included under other creditors is a balance of £6,420,000 (2023:£3,400,000) owed to Mirrorstoke Limited, a company related via common directors. The loan is interest free and repayable on demand.