REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Period 11 July 2023 to 31 March 2024 |
for |
Chlodan Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Period 11 July 2023 to 31 March 2024 |
for |
Chlodan Properties Limited |
Chlodan Properties Limited (Registered number: SC775368) |
Contents of the Financial Statements |
For The Period 11 July 2023 to 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chlodan Properties Limited |
Company Information |
For The Period 11 July 2023 to 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Cambuslang Court |
Cambuslang |
Glasgow |
Strathclyde |
G32 8FH |
Chlodan Properties Limited (Registered number: SC775368) |
Balance Sheet |
31 March 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings | 10 | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
Chlodan Properties Limited (Registered number: SC775368) |
Balance Sheet - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Chlodan Properties Limited (Registered number: SC775368) |
Notes to the Financial Statements |
For The Period 11 July 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Chlodan Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Cash and Bank Balances |
Cash and bank balances are measured at the transaction price. |
Taxation |
Taxation for the period 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. |
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 period 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. |
Chlodan Properties Limited (Registered number: SC775368) |
Notes to the Financial Statements - continued |
For The Period 11 July 2023 to 31 March 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
Revaluations | 79,098 |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2024 | 79,097 |
Cost | 296,041 |
375,138 |
The investment properties had been professionally valued during the year and have been assessed as being at fair value as at 31/03/2024. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
Other creditors |
Chlodan Properties Limited (Registered number: SC775368) |
Notes to the Financial Statements - continued |
For The Period 11 July 2023 to 31 March 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
Paratus AMC Limited holds security over 66 Bank Street, TD1 1EL. |
Together Commercial Finance Limited holds security over 40 Balmoor Terrace, AB42 1ER. |
Together Commercial Finance Limited holds security over 11 Denholm Gardens, PA16 8RF. |
9. | PROVISIONS FOR LIABILITIES |
£ |
Deferred tax | 12,644 |
Deferred |
tax |
£ |
Provided during period |
Balance at 31 March 2024 |
10. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
Profit for the period |
Transfer to Fair Value Reserve | (79,098 | ) | 79,098 | - |
Deferred Tax on Revaluation | 12,644 | (12,644 | ) | - |
At 31 March 2024 | ( |
) | 37,931 |
11. | RELATED PARTY DISCLOSURES |
As at 31/03/2024, Chlodan Properties Ltd was owed £6,192.10 by Emandel Properties Ltd. These companies are connected and this loan has been provided interest free with no fixed repayment terms. |