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Registered number: 00296730










THE CLEVELAND DWELLINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
THE CLEVELAND DWELLINGS LIMITED
REGISTERED NUMBER: 00296730

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Investment property
  
1,593,275
1,876,120

  
1,593,275
1,876,120

CURRENT ASSETS
  

Cash at bank and in hand
 5 
37,305
18,397

  
37,305
18,397

Creditors: amounts falling due within one year
 6 
(433,763)
(282,312)

NET CURRENT LIABILITIES
  
 
 
(396,458)
 
 
(263,915)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,196,817
1,612,205

Creditors: amounts falling due after more than one year
 7 
(34,953)
(398,345)

  

NET ASSETS
  
1,161,864
1,213,860


CAPITAL AND RESERVES
  

Called up share capital 
 8 
12,670
12,670

Share premium account
  
166,490
166,490

Capital redemption reserve
  
840
840

Profit and loss account
  
981,864
1,033,860

  
1,161,864
1,213,860


Page 1

 
THE CLEVELAND DWELLINGS LIMITED
REGISTERED NUMBER: 00296730
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 profit and loss account 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 by: 




Mr R D Ord
Director

Date: 17 October 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
THE CLEVELAND DWELLINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

The company is a private company, limited by shares, incorporated in England and Wales and its registered office is:-
59 Southburn Terrace
Hartlepool
TS25 1SQ

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

Going concern

The director has reviewed the position carefully and due to the continued receipt of rental income, loan finance and support from the director, he considers that there are no material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern and therefore the financial statements have been prepared on a going concern basis.

 
2.3

Revenue

Turnover comprises revenue received by the company in respect of rents receivable and is recognised in line with the rental period.

 
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

Investment Property

Investment property is carried at fair value. No depreciation is provided. 


3.


EMPLOYEES

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


4.


STOCKS




Page 3

 
THE CLEVELAND DWELLINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
37,305
18,397

Less: bank overdrafts
-
(4,386)

37,305
14,011



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank overdrafts
-
4,386

Bank loans
25,967
34,091

Other taxation and social security
479
408

Other creditors
403,869
232,970

Accruals and deferred income
3,448
10,457

433,763
282,312


The bank loans are secured on certain properties in freehold investment property. 


7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
34,953
398,345

34,953
398,345


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

2024
2023
£
£


Bank loans
-
308,600

-
308,600



Page 4

 
THE CLEVELAND DWELLINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


SHARE CAPITAL

2024
2023
£
£
Allotted, called up and fully paid



12,670 (2023 - 12,670) Ordinary shares of £1.00 each
12,670
12,670



9.


RELATED PARTY TRANSACTIONS

At 31 March 2024, the company owed £137,006 (2023: £142,543) to Chelston Properties Limited, a company under common directorship. 
At 31 March 2024 the amounts owed to the director are as follows:


2024
2023
£
£

R D Ord
213,604
36,121
213,604
36,121

 
Page 5