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REGISTERED NUMBER: 09129778 (England and Wales)
























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: C G Clayson
J Clayson





Registered office: 345 Wellingborough Road
Northampton
NN1 4ER





Registered number: 09129778 (England and Wales)





Accountants: A.J. Lewis
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 12,908 14,022
Investment property 4 28,322,046 28,269,000
28,334,954 28,283,022

Current assets
Debtors 335,323 299,027
Cash at bank 313,273 250,387
648,596 549,414
Creditors
Amounts falling due within one year 1,344,022 1,013,146
Net current liabilities (695,426 ) (463,732 )
Total assets less current liabilities 27,639,528 27,819,290

Creditors
Amounts falling due after more than one
year

(10,753,735

)

(11,092,639

)

Provisions for liabilities (927,991 ) -
Net assets 15,957,802 16,726,651

Capital and reserves
Called up share capital 1,000 1,000
Share premium 12,274,548 12,274,548
Retained earnings 3,682,254 4,451,103
15,957,802 16,726,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance sheet for the year ended 31st July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th November 2024 and were signed on its behalf by:





C G Clayson - Director


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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue recognition
The company recognises revenue as the right to the rental income accrues due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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 8 (2023 - 10 ) .

3. Tangible fixed assets
Totals
£   
Cost
At 1st August 2023 34,081
Additions 3,192
At 31st July 2024 37,273
Depreciation
At 1st August 2023 20,059
Charge for year 4,306
At 31st July 2024 24,365
Net book value
At 31st July 2024 12,908
At 31st July 2023 14,022

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 28,269,000
Additions 53,046
At 31st July 2024 28,322,046
Net book value
At 31st July 2024 28,322,046
At 31st July 2023 28,269,000

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 8,901,441 8,892,916

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.