2023-03-012024-02-292024-02-29false12461461CLAUGHTON HALL ESTATE 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CLAUGHTON HALL ESTATE LIMITED

Registered Number
12461461
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

CLAUGHTON HALL ESTATE LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

OYSTON, Karl Samuel Owen
OYSTON, Vicki

Registered Address

Claughton Hall Farleton Old Road
Claughton
Lancaster
LA2 9SA

Registered Number

12461461 (England and Wales)
CLAUGHTON HALL ESTATE LIMITED
Statement of Financial Position
29 February 2024

Notes

2024

2023

£

£

£

£

Called up share capital not paid11
Fixed assets
Tangible assets3113,18843,187
Investment property47,431,3547,431,354
7,544,5427,474,541
Current assets
Debtors51,266,9671,336,607
Cash at bank and on hand15,66736,247
1,282,6341,372,854
Creditors amounts falling due within one year6(172,732)(270,962)
Net current assets (liabilities)1,109,9031,101,893
Total assets less current liabilities8,654,4458,576,434
Provisions for liabilities7(7,700)(349)
Net assets8,646,7458,576,085
Capital and reserves
Called up share capital11
Revaluation reserve7,395,0007,395,000
Profit and loss account1,251,7441,181,084
Shareholders' funds8,646,7458,576,085
The financial statements were approved and authorised for issue by the Board of Directors on 20 November 2024, and are signed on its behalf by:
OYSTON, Vicki
Director
Registered Company No. 12461461
CLAUGHTON HALL ESTATE LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery15-
Fixtures and fittings-3
Office Equipment-3
Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 March 236,24036,0003431,92744,510
Additions76,090---76,090
At 29 February 2482,33036,0003431,927120,600
Depreciation and impairment
At 01 March 23-1,206101071,323
Charge for year-5,3331146426,089
At 29 February 24-6,5391247497,412
Net book value
At 29 February 2482,33029,4612191,178113,188
At 28 February 236,24034,7943331,82043,187
4.Investment property
The fair value of the investment property has been arrived at on the basis of a valuation carried out, in November 2019, by a firm of independent Chartered Surveyors, who are not connected to the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. It is the opinion of the directors that this valuation has not materiality altered at the Balance Sheet date.

£
Fair value at 01 March 237,431,354
At 29 February 247,431,354
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables315,176332,258
Other debtors951,7911,004,349
Total1,266,9671,336,607
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security167,742245,502
Other creditors-20,000
Accrued liabilities and deferred income4,9905,460
Total172,732270,962
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.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7,700349
Total7,700349
8.Directors advances, credits and guarantees
On 1 March 2023 the Directors owed the Company £1,004,349. During the period the Directors were advanced a further £153,585 and repaid £206,143. As at 29 February 2024 the Directors owed the Company £951,791. Interest was charged on this loan at 2% until 5 April 2023 and at 2.5% from 6 April 2023.