2023-04-012024-03-312024-03-31false01031069CLIFTON PROPERTIES INTERNATIONAL 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CLIFTON PROPERTIES INTERNATIONAL LIMITED

Registered Number
01031069
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

CLIFTON PROPERTIES INTERNATIONAL LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

CLIFTON, Jason Adam
CLIFTON, Robert Claude

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

01031069 (England and Wales)
CLIFTON PROPERTIES INTERNATIONAL LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,961,9754,955,804
Investments422
4,961,9774,955,806
Current assets
Debtors545,234115,656
Cash at bank and on hand79,98135,109
125,215150,765
Creditors amounts falling due within one year6(109,455)(253,134)
Net current assets (liabilities)15,760(102,369)
Total assets less current liabilities4,977,7374,853,437
Provisions for liabilities7(480)(600)
Net assets4,977,2574,852,837
Capital and reserves
Called up share capital4,2844,284
Profit and loss account4,972,9734,848,553
Shareholders' funds4,977,2574,852,837
The financial statements were approved and authorised for issue by the Board of Directors on 27 September 2024, and are signed on its behalf by:
CLIFTON, Jason Adam
Director
Registered Company No. 01031069
CLIFTON PROPERTIES INTERNATIONAL LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Land and building held and used in the Company's own activities for production and supply of goods or for administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position. Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve. Depreciation on cost of buildings is charged to profit and loss. Depreciation on the revaluation amount on buildings is charged to the revaluation reserve, so as to write off their value less residual value, over their estimated useful life, using the straight line method. Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Reducing balance (%)
Fixtures and fittings20
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 April 234,952,6488,4594,961,107
Additions6,803-6,803
At 31 March 244,959,4518,4594,967,910
Depreciation and impairment
At 01 April 23-5,3035,303
Charge for year-632632
At 31 March 24-5,9355,935
Net book value
At 31 March 244,959,4512,5244,961,975
At 31 March 234,952,6483,1564,955,804
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 2322
At 31 March 2422
Net book value
At 31 March 2422
At 31 March 2322

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables45,23435,873
Amounts owed by group undertakings-75,403
Prepayments and accrued income-4,380
Total45,234115,656
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables11
Amounts owed to related parties-198,930
Taxation and social security89,78210,140
Other creditors9813,028
Accrued liabilities and deferred income18,69141,035
Total109,455253,134
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)480600
Total480600
8.Related party transactions
Forestdrive Properties Limited- a related company by virtue of common control by one of the directors: During the year the company received £0 (2023- £21,739) and paid expenses £8,441 (2023- £6,621) on behalf of Forestdrive Properties Limited. In addition, during the year, the company wrote off the entire loan of £190,489 owed to the related party. Gemhouse Properties Limited - a related company by virtue of common control by one of the directors. During the year the company received £8,000 (2023- £22,500) and paid expenses £9,810 (2023- £8,910) on behalf of the related company. In addition, during the year, the company wrote off the entire loan of £77,213 owed by the related party. Clifton Properties International Group Limited - parent company of the reporting entity During the year the company paid dividend of £239,737 (2023- £220,000) to the parent company. Amounts owed to the directors At the balance sheet date, the company owed £981 (2023 - £2,822) to the directors, which is an interest free loan with no fixed date for repayment.