Registration number:
Claris Property Ltd
for the Year Ended 31 January 2024
Claris Property Ltd
Contents
Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Claris Property Ltd
(Registration number: SC651469)
Statement of Financial Position as at 31 January 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
52,804 |
41,070 |
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Shareholders' funds |
52,805 |
41,071 |
For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Claris Property Ltd
(Registration number: SC651469)
Statement of Financial Position as at 31 January 2024
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Income Statement.
Approved and authorised by the
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Claris Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
General information |
The Company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
Scotland
The principal place of business is:
Ravensby Coach House
Barry
Carnoustie
Angus
DD7 7RJ
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Claris Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office Equipment |
25% Reducing Balance |
Investment property
Borrowings
Claris Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the Company (including the Director) during the year, was
Claris Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 February 2023 |
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At 31 January 2024 |
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Depreciation |
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At 1 February 2023 |
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Charge for the year |
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At 31 January 2024 |
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Carrying amount |
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At 31 January 2024 |
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At 31 January 2023 |
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Investment properties |
2024 |
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At 1 February |
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At 31 January |
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There has been no valuation of investment property by an independent valuer.
Debtors |
Current |
2024 |
2023 |
Other debtors |
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Claris Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Amounts owed to Group undertakings and undertakings in which the Company has a participating interest |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Reserves |
2024 |
2023 |
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£ |
£ |
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Profit and loss account - distributable reserves |
(35,875) |
(47,609) |
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Revaluation of investment property - undistributable reserves |
109,480 |
109,480 |
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Deferred tax on investment property - undistributable reserves |
(20,801) |
(20,801) |
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52,804 |
41,070 |
Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Claris Property Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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