Registered number
11141126
Clennon Properties Limited
Filleted Accounts
31 January 2024
Clennon Properties Limited
Registered number: 11141126
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 564,548 554,548
Current assets
Stocks 144,635 -
Cash at bank and in hand 3,271 18,983
147,906 18,983
Creditors: amounts falling due within one year 4 (4,483) (2,770)
Net current assets 143,423 16,213
Total assets less current liabilities 707,971 570,761
Creditors: amounts falling due after more than one year 5 (692,214) (564,958)
Net assets 15,757 5,803
Capital and reserves
Called up share capital 1 1
Profit and loss account 15,756 5,802
Shareholder's funds 15,757 5,803
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Stone-Parker
Director
Approved by the board on 30 October 2024
Clennon Properties Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
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).
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Going concern
The company’s balance sheet shows a net liability position. However, the director considers the company can continue to rely upon her own support to ensure that its liabilities can be settled when they fall due. Accordingly, these financial statements have been prepared on a going concern basis and do not include any provision for adjustments that may become necessary if the support referred to above were withdrawn.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Other
investments
£
Cost
At 1 February 2023 554,548
Additions 10,000
At 31 January 2024 564,548
4 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 2,148 1,480
Taxation and social security costs 2,335 1,290
4,483 2,770
5 Creditors: amounts falling due after one year 2024 2023
£ £
Property loan 321,077 321,077
Director's loan account 371,137 243,881
692,214 564,958
6 Other information
Clennon Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Mill
Kingsteignton Road
Newton Abbot
Devon
TQ12 2QA
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