Claris Property Ltd SC651469 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is buying & selling of own real estate. Digita Accounts Production Advanced 6.30.9574.0 true true SC651469 2023-02-01 2024-01-31 SC651469 2024-01-31 SC651469 core:CurrentFinancialInstruments 2024-01-31 SC651469 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 SC651469 core:Non-currentFinancialInstruments 2024-01-31 SC651469 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 SC651469 core:FurnitureFittingsToolsEquipment 2024-01-31 SC651469 bus:SmallEntities 2023-02-01 2024-01-31 SC651469 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 SC651469 bus:FilletedAccounts 2023-02-01 2024-01-31 SC651469 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC651469 bus:RegisteredOffice 2023-02-01 2024-01-31 SC651469 bus:Director1 2023-02-01 2024-01-31 SC651469 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC651469 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 SC651469 core:OfficeEquipment 2023-02-01 2024-01-31 SC651469 countries:UnitedKingdom 2023-02-01 2024-01-31 SC651469 2023-01-31 SC651469 core:FurnitureFittingsToolsEquipment 2023-01-31 SC651469 2022-02-01 2023-01-31 SC651469 2023-01-31 SC651469 core:CurrentFinancialInstruments 2023-01-31 SC651469 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 SC651469 core:Non-currentFinancialInstruments 2023-01-31 SC651469 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 SC651469 core:FurnitureFittingsToolsEquipment 2023-01-31 iso4217:GBP xbrli:pure

Registration number: SC651469

Claris Property Ltd

Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Claris Property Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Claris Property Ltd

(Registration number: SC651469)
Statement of Financial Position as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

144

192

Investment property

5

480,000

480,000

 

480,144

480,192

Current assets

 

Debtors

6

3,245

3,970

Cash at bank and in hand

 

1,308

278

 

4,553

4,248

Creditors: Amounts falling due within one year

7

(123,876)

(129,797)

Net current liabilities

 

(119,323)

(125,549)

Total assets less current liabilities

 

360,821

354,643

Creditors: Amounts falling due after more than one year

7

(287,215)

(292,771)

Provisions for liabilities

(20,801)

(20,801)

Net assets

 

52,805

41,071

Capital and reserves

 

Called up share capital

1

1

Retained earnings

52,804

41,070

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:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 director on 4 October 2024
 

.........................................
B Ettershank
Director

 

Claris Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
29 Commercial Street
Dundee
Tayside
DD1 3DG
Scotland

The principal place of business is:
Ravensby Coach House
Barry
Carnoustie
Angus
DD7 7RJ

These financial statements were authorised for issue by the director on 4 October 2024.

2

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

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 1 (2023 - 0).

 

Claris Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

349

349

At 31 January 2024

349

349

Depreciation

At 1 February 2023

157

157

Charge for the year

48

48

At 31 January 2024

205

205

Carrying amount

At 31 January 2024

144

144

At 31 January 2023

192

192

5

Investment properties

2024
£

At 1 February

480,000

At 31 January

480,000

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

2023
£

Other debtors

3,245

3,970

 

3,245

3,970

 

Claris Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

5,556

5,556

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

7,648

13,348

Accruals and deferred income

 

2,007

1,020

Other creditors

 

108,665

109,873

 

123,876

129,797

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

287,215

292,771

8

Reserves

2024

2023

£

£

Profit and loss account - distributable reserves

(35,875)

(47,609)

Revaluation of investment property - undistributable reserves

109,480

109,480

Deferred tax on investment property - undistributable reserves

(20,801)

(20,801)

52,804

41,070

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

287,215

292,771

 

Claris Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,556

5,556