Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false2023-03-01false1No description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06046833 2023-03-01 2024-02-29 06046833 2022-03-01 2023-02-28 06046833 2024-02-29 06046833 2023-02-28 06046833 c:Director1 2023-03-01 2024-02-29 06046833 d:FreeholdInvestmentProperty 2024-02-29 06046833 d:FreeholdInvestmentProperty 2023-02-28 06046833 d:CurrentFinancialInstruments 2024-02-29 06046833 d:CurrentFinancialInstruments 2023-02-28 06046833 d:Non-currentFinancialInstruments 2024-02-29 06046833 d:Non-currentFinancialInstruments 2023-02-28 06046833 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 06046833 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06046833 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 06046833 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 06046833 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 06046833 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 06046833 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-02-29 06046833 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 06046833 d:ShareCapital 2024-02-29 06046833 d:ShareCapital 2023-02-28 06046833 d:RetainedEarningsAccumulatedLosses 2024-02-29 06046833 d:RetainedEarningsAccumulatedLosses 2023-02-28 06046833 c:FRS102 2023-03-01 2024-02-29 06046833 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 06046833 c:FullAccounts 2023-03-01 2024-02-29 06046833 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06046833 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 06046833










CLOWNALLEY LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
CLOWNALLEY LTD
REGISTERED NUMBER: 06046833

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
6,426,617
6,426,617

  
6,426,617
6,426,617

Current assets
  

Debtors: amounts falling due within one year
 5 
18,200
15,443

Cash at bank and in hand
 6 
46,893
32,995

  
65,093
48,438

Creditors: amounts falling due within one year
 7 
(2,815,882)
(2,853,762)

Net current liabilities
  
 
 
(2,750,789)
 
 
(2,805,324)

Total assets less current liabilities
  
3,675,828
3,621,293

Creditors: amounts falling due after more than one year
  
(3,449,395)
(3,438,006)

  

Net assets
  
226,433
183,287


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
226,333
183,187

  
226,433
183,287


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 on 27 September 2024.




Page 1

 
CLOWNALLEY LTD
REGISTERED NUMBER: 06046833

BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

M Williams
Director

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

Page 2

 
CLOWNALLEY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Clownalley Limited is a private limited 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

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
CLOWNALLEY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.8

Debtors

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.

 
2.9

Cash and cash equivalents

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.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




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

Page 4

 
CLOWNALLEY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Investment property





Freehold investment property

£



Valuation


At 1 March 2023
6,426,617



At 29 February 2024
6,426,617

The 2024 valuations were made by the directors, on an open market value for existing use basis.





5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
2,620
800

Other debtors
5,586
5,586

Prepayments and accrued income
9,994
9,057

18,200
15,443



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
46,893
32,995

46,893
32,995


Page 5

 
CLOWNALLEY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Amounts owed to group undertakings
2,764,378
2,778,185

Corporation tax
5,619
22,211

Other creditors
7,798
7,798

Accruals and deferred income
38,087
45,568

2,815,882
2,853,762



8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
3,449,395
3,438,006

3,449,395
3,438,006


The following liabilities were secured:

29 February
28 February
2024
2023
£
£



Bank loans
3,449,395
3,438,006

3,449,395
3,438,006

Details of security provided:

The bank loans are secured by a fixed charge over the investment properties owned by the company.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

29 February
28 February
2024
2023
£
£


Repayable other than by instalments
3,449,395
2,979,589

3,449,395
2,979,589

The bank loans are interest only mortgages with the capital to be repaid on redemption of the mortgage

Page 6

 
CLOWNALLEY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£


Amounts falling due 1-2 years

Bank loans
-
458,417


-
458,417


Amounts falling due after more than 5 years

Bank loans
3,449,395
2,979,589

3,449,395
2,979,589

3,449,395
3,438,006



10.


Related party transactions

The company is a subsidiary of North Star (2000) Limited, a company registered in England and Wales, which owns 100% of the ordinary share capital.
As at 28 February 2024 the company owed to North Star (2000) Limited £2,774,698 in respect of loan advances (2023 - £2,772,390) which is repayable on demand with no interest charged.


Page 7