REGISTERED NUMBER: |
Clayson Property Limited |
Financial Statements for the Year Ended 31st July 2024 |
REGISTERED NUMBER: |
Clayson Property Limited |
Financial Statements for the Year Ended 31st July 2024 |
Clayson Property Limited (Registered number: 09129778) |
Contents of the Financial Statements |
for the Year Ended 31st July 2024 |
Page |
Company information | 1 |
Abridged balance sheet | 2 |
Notes to the financial statements | 4 |
Clayson Property Limited |
Company Information |
for the Year Ended 31st July 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountant |
Lewis & Son Accountants Limited |
37 Stoke Road |
Blisworth |
Northampton |
NN7 3BZ |
Clayson Property Limited (Registered number: 09129778) |
Abridged Balance Sheet |
31st July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 3 |
Investment property | 4 |
Current assets |
Debtors |
Cash at bank |
Creditors |
Amounts falling due within one year |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
( |
) |
( |
) |
Provisions for liabilities | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Share premium |
Retained earnings |
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. |
Clayson Property Limited (Registered number: 09129778) |
Abridged Balance Sheet - continued |
31st July 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Clayson Property Limited (Registered number: 09129778) |
Notes to the Financial Statements |
for the Year Ended 31st July 2024 |
1. | Accounting policies |
Basis of preparing the financial statements |
Revenue recognition |
The company recognises revenue as the right to the rental income accrues due. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Investment property |
The initial recognition of investment properties is at cost. Subsequent changes to the value are recognised through the profit and loss account. In the opinion of the directors there is no significant difference between cost and current fair value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between the contributions payable and the contributions actually paid in the year are shown as either accruals or prepayments at the year end. |
Clayson Property Limited (Registered number: 09129778) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2024 |
1. | Accounting policies - continued |
Leasing and hire purchase contracts |
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligations outstanding in each period. |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis. |
2. | Employees and directors |
The average number of employees during the year was |
3. | Tangible fixed assets |
Totals |
£ |
Cost |
At 1st August 2023 |
Additions |
At 31st July 2024 |
Depreciation |
At 1st August 2023 |
Charge for year |
At 31st July 2024 |
Net book value |
At 31st July 2024 |
At 31st July 2023 |
Clayson Property Limited (Registered number: 09129778) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2024 |
4. | Investment property |
Total |
£ |
Cost or valuation |
At 1st August 2023 |
Additions |
At 31st July 2024 |
Net book value |
At 31st July 2024 |
At 31st July 2023 |
The investment properties were acquired in 2018, the directors consider that the current value of the properties is not materially different from cost. |
Cost or valuation at 31st July 2024 is represented by: |
£ |
Valuation in 2023 | 3,699,055 |
Cost | 24,622,991 |
28,322,046 |
5. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
6. | Related party disclosures |
Included in other creditors is the amount of £2,290,464, (2023 - £2,117,232), owed to Clayson Country Homes Limited a company controlled by Colin Clayson. This amount is interest free and has no fixed repayment date. |