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REGISTERED NUMBER: 02185485 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Clwyd Developments Limited

Clwyd Developments Limited (Registered number: 02185485)






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


Clwyd Developments Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs S M Jones
D P Jones





SECRETARY: Mrs S M Jones





REGISTERED OFFICE: Clwyd House
Blackwood Business Park
Ash road South
Wrexham
Clwyd
LL13 9UG





REGISTERED NUMBER: 02185485 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Clwyd Developments Limited (Registered number: 02185485)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,195 9,137
Investment property 5 1,230,000 1,441,890
1,237,195 1,451,027

CURRENT ASSETS
Debtors 6 4,814 4,164
Cash at bank 326,737 118,880
331,551 123,044
CREDITORS
Amounts falling due within one year 7 366,068 479,997
NET CURRENT LIABILITIES (34,517 ) (356,953 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,202,678

1,094,074

CAPITAL AND RESERVES
Called up share capital 238,872 238,872
Revaluation reserve 8 286,496 280,678
Retained earnings 677,310 574,524
SHAREHOLDERS' FUNDS 10 1,202,678 1,094,074

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.

Clwyd Developments Limited (Registered number: 02185485)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





D P Jones - Director


Clwyd Developments Limited (Registered number: 02185485)

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

1. STATUTORY INFORMATION

Clwyd Developments 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 as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

Turnover
Turnover represents net invoiced rentals, excluding value added tax derived from its principal activity wholly undertaken in the UK.

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 - 10% on cost

Investment property
Investment property is shown at open market value. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Clwyd Developments Limited (Registered number: 02185485)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023 72,061
Disposals (9,680 )
At 31 December 2023 62,381
DEPRECIATION
At 1 January 2023 62,924
Charge for year 1,942
Eliminated on disposal (9,680 )
At 31 December 2023 55,186
NET BOOK VALUE
At 31 December 2023 7,195
At 31 December 2022 9,137

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 1,441,890
Disposals (290,000 )
Revaluations 78,110
At 31 December 2023 1,230,000
NET BOOK VALUE
At 31 December 2023 1,230,000
At 31 December 2022 1,441,890

The properties are stated at fair value as determined by the directors at 31st December 2021
.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2007 263,420
Valuation in 2020 (25,000 )
Valuation in 2021 42,258
Valuation in 2023 5,818
Cost 943,504
1,230,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 4,814 4,164

Clwyd Developments Limited (Registered number: 02185485)

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
£    £   
Trade creditors 6,744 14,709
Amounts owed to group undertakings 337,996 443,556
Corporation tax 7,982 5,843
VAT 1,751 889
Accrued expenses 11,595 15,000
366,068 479,997

8. RESERVES
Revaluation
reserve
£   
At 1 January 2023 280,678
Purchase of own shares (72,292 )
Revaluation 78,110

At 31 December 2023 286,496

9. RELATED PARTY DISCLOSURES

At the Balance Sheet date a net amount of £337,996 (2022 - £443,556) was due to Clwyd Transport Services Limited, a company associated by common shareholders. During the year the company received rent/service charges of £200 (2022: £13,929) from Clwyd Transport Services Limited.

10. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
31.12.23 31.12.22
£    £   
Profit for the financial year 102,786 23,137
Revaluation of investment properties 78,110 -
Market value of Invest't property sold (72,292 ) -
Net addition to shareholders' funds 108,604 23,137
Opening shareholders' funds 1,094,074 1,070,937
Closing shareholders' funds 1,202,678 1,094,074