Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activity2023-04-011false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00734459 2023-04-01 2024-03-31 00734459 2022-04-01 2023-03-31 00734459 2024-03-31 00734459 2023-03-31 00734459 c:Director1 2023-04-01 2024-03-31 00734459 c:RegisteredOffice 2023-04-01 2024-03-31 00734459 c:Agent1 2023-04-01 2024-03-31 00734459 d:FurnitureFittings 2023-04-01 2024-03-31 00734459 d:FurnitureFittings 2024-03-31 00734459 d:FurnitureFittings 2023-03-31 00734459 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 00734459 d:OtherPropertyPlantEquipment 2024-03-31 00734459 d:OtherPropertyPlantEquipment 2023-03-31 00734459 d:CurrentFinancialInstruments 2024-03-31 00734459 d:CurrentFinancialInstruments 2023-03-31 00734459 d:Non-currentFinancialInstruments 2024-03-31 00734459 d:Non-currentFinancialInstruments 2023-03-31 00734459 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00734459 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00734459 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 00734459 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 00734459 d:ShareCapital 2024-03-31 00734459 d:ShareCapital 2023-03-31 00734459 d:RetainedEarningsAccumulatedLosses 2024-03-31 00734459 d:RetainedEarningsAccumulatedLosses 2023-03-31 00734459 c:FRS102 2023-04-01 2024-03-31 00734459 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00734459 c:FullAccounts 2023-04-01 2024-03-31 00734459 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00734459 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 00734459







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


CLOVERNOOK INVESTMENTS LIMITED






































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CLOVERNOOK INVESTMENTS LIMITED
 


 
COMPANY INFORMATION


Director
Mr P S Snook 




Registered number
00734459



Registered office
46a Norman Road
Southsea

Hampshire

PO4 0LP




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX




Bankers
National Westminster Bank Plc
130 Commercial Road

Portsmouth

Hampshire

PO1 1ES





 


CLOVERNOOK INVESTMENTS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


CLOVERNOOK INVESTMENTS LIMITED
REGISTERED NUMBER:00734459



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,864,961
5,548,114

  
5,864,961
5,548,114

Current assets
  

Debtors: amounts falling due within one year
 5 
100,427
100,651

Cash at bank and in hand
  
76,254
138,092

  
176,681
238,743

Creditors: amounts falling due within one year
 6 
(384,391)
(156,114)

Net current (liabilities)/assets
  
 
 
(207,710)
 
 
82,629

Total assets less current liabilities
  
5,657,251
5,630,743

Creditors: amounts falling due after more than one year
 7 
(137,120)
(218,848)

Provisions for liabilities
  

Deferred tax
  
(374,182)
(374,182)

  
 
 
(374,182)
 
 
(374,182)

Net assets
  
5,145,949
5,037,713

Page 1

 


CLOVERNOOK INVESTMENTS LIMITED
REGISTERED NUMBER:00734459


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
5,145,849
5,037,613

  
5,145,949
5,037,713


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.

The Company has opted not to file the statement of income and retained earnings 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 by: 






Mr P S Snook
Director

Date: 3 August 2024


The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


CLOVERNOOK INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Clovernook Investments Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 


CLOVERNOOK INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.6

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 


CLOVERNOOK INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees




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

Page 5

 


CLOVERNOOK INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings
Investment Property
Total

£
£
£



Cost or valuation


At 1 April 2023
9,549
5,548,110
5,557,659


Additions
-
316,847
316,847



At 31 March 2024

9,549
5,864,957
5,874,506



Depreciation


At 1 April 2023
9,545
-
9,545



At 31 March 2024

9,545
-
9,545



Net book value



At 31 March 2024
4
5,864,957
5,864,961



At 31 March 2023
4
5,548,110
5,548,114

The investment properties have been valued by Mr P S Snook, the director. Mr P S Snook has substantial knowledge of the property market and has used this knowledge to value the properties on an open market basis.


5.


Debtors

2024
2023
£
£


Trade debtors
1,059
1,282

Other debtors
99,368
99,369

100,427
100,651


Page 6

 


CLOVERNOOK INVESTMENTS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
78,207
74,685

Corporation tax
36,064
11,543

Other creditors
266,550
66,550

Accruals and deferred income
3,570
3,336

384,391
156,114


The following liabilities disclosed under creditors falling due within one year are secured by the company:
Bank loans and overdrafts £78,207 (2023 - £74,685)


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
137,120
218,848

137,120
218,848


The following liabilities disclosed under creditors falling due after more than one year are secured by the company:
Bank loans and overdrafts £137,120 (2023 - £218,848).


8.


Transactions with directors

At the balance sheet date, the director had an overdrawn directors loan account amounting to £79,367 (2023 - £79,367). No repayments have been made and no interest is being charged on this loan.
At the balance sheet date £212,000 was owed to the director by the company. This loan is interest free and is being repaid by installments.

Page 7