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REGISTERED NUMBER: 04358465 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

VW Clifton Limited

VW Clifton Limited (Registered number: 04358465)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VW Clifton Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: W J Clifton
V Clifton





SECRETARY: W J Clifton





REGISTERED OFFICE: Suite 1, The Riverside Builidng,
Livingstone Road
Hessle
HU13 0DZ





REGISTERED NUMBER: 04358465 (England and Wales)





ACCOUNTANTS: Harris Lacey and Swain
Suite 1
The Riverside Building
Hessle
East Yorkshire
HU13 0DZ

VW Clifton Limited (Registered number: 04358465)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 580,321 560,499

CURRENT ASSETS
Debtors 5 833 594
Cash at bank 1,409 788
2,242 1,382
CREDITORS
Amounts falling due within one year 6 264,216 256,366
NET CURRENT LIABILITIES (261,974 ) (254,984 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,347

305,515

PROVISIONS FOR LIABILITIES 43,190 39,390
NET ASSETS 275,157 266,125

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 7 248,678 248,678
Retained earnings 26,477 17,445
SHAREHOLDERS' FUNDS 275,157 266,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

VW Clifton Limited (Registered number: 04358465)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





W J Clifton - Director


VW Clifton Limited (Registered number: 04358465)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

VW Clifton Limited is a private 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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors' best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements.

Turnover
Turnover represents property rentals and consultancy fees due for the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Investment Property - SSAP19 revalued annually not depreciated
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 15% on reducing balance

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measure at their settlement value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


VW Clifton Limited (Registered number: 04358465)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Investment and Motor
Property fittings vehicles Equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 560,000 4,734 21,000 3,399 589,133
Revaluations 20,000 - - - 20,000
At 31 March 2024 580,000 4,734 21,000 3,399 609,133
DEPRECIATION
At 1 April 2023 - 4,519 20,843 3,272 28,634
Charge for year - 34 39 105 178
At 31 March 2024 - 4,553 20,882 3,377 28,812
NET BOOK VALUE
At 31 March 2024 580,000 181 118 22 580,321
At 31 March 2023 560,000 215 157 127 560,499

VW Clifton Limited (Registered number: 04358465)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Investment and Motor
Property fittings vehicles Equipment Totals
£    £    £    £    £   
Valuation in 2010 148,068 - - - 148,068
Valuation in 2019 60,000 - - - 60,000
Valuation in 2022 40,000 - - - 40,000
Valuation in 2023 40,000 - - - 40,000
Valuation in 2024 20,000 - - - 20,000
Cost 271,932 4,734 21,000 3,399 301,065
580,000 4,734 21,000 3,399 609,133

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 271,932 271,932

Investment Properties were valued on an open market basis on 31 March 2024 by the Directors .

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors - 594

Amounts falling due after more than one year:
Trade debtors 833 -

Aggregate amounts 833 594

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 235 -
Other creditors 263,981 256,366
264,216 256,366

VW Clifton Limited (Registered number: 04358465)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 248,678