REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Clwyd Developments Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS | 10 |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
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 |
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 |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2023 |
Disposals | ( |
) |
Revaluations | 78,110 |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
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 |
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 |
Amounts owed to group undertakings |
Corporation tax |
VAT | 1,751 | 889 |
Accrued expenses |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2023 |
Purchase of own shares | (72,292 | ) |
Revaluation | 78,110 |
At 31 December 2023 |
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 |
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 |