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12355145
31 December 2023
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CLARION TRUST CORPORATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Clarion Trust Corporation Limited ("the Company") is a private company, limited by shares, incorporated in the United Kingdom and registered in England. The Company's registered number is 12355145. The address of its registered office is Elizabeth House, 13-19 Queen Street, Leeds, West Yorkshire, LS1 2TW.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The company is non-trading and does not require any funding, as a result there are no material uncertainties in respect of going concern. The financial statements have been prepared on the going concern basis.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).
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