IRIS Accounts Production v24.3.0.553 10607572 Board of Directors 1.4.23 31.3.24 31.3.24 0 0 false true false false true true true true true false Fair value model Ordinary 0.50000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106075722023-03-31106075722024-03-31106075722023-04-012024-03-31106075722022-03-31106075722022-04-012023-03-31106075722023-03-3110607572ns15:EnglandWales2023-04-012024-03-3110607572ns14:PoundSterling2023-04-012024-03-3110607572ns10:Director12023-04-012024-03-3110607572ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3110607572ns10:SmallEntities2023-04-012024-03-3110607572ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3110607572ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3110607572ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3110607572ns10:FullAccounts2023-04-012024-03-3110607572ns10:OrdinaryShareClass12023-04-012024-03-3110607572ns10:Director22023-04-012024-03-3110607572ns10:RegisteredOffice2023-04-012024-03-3110607572ns5:CurrentFinancialInstruments2024-03-3110607572ns5:CurrentFinancialInstruments2023-03-3110607572ns5:Non-currentFinancialInstruments2024-03-3110607572ns5:Non-currentFinancialInstruments2023-03-3110607572ns5:ShareCapital2024-03-3110607572ns5:ShareCapital2023-03-3110607572ns5:RetainedEarningsAccumulatedLosses2024-03-3110607572ns5:RetainedEarningsAccumulatedLosses2023-03-311060757212023-04-012024-03-3110607572ns5:PlantMachinery2023-04-012024-03-3110607572ns5:PlantMachinery2023-03-3110607572ns5:PlantMachinery2024-03-3110607572ns5:PlantMachinery2023-03-3110607572ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3110607572ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3110607572ns5:Secured2024-03-3110607572ns5:Secured2023-03-3110607572ns5:DeferredTaxation2023-03-3110607572ns5:DeferredTaxation2024-03-3110607572ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 10607572 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

CLASINA LIMITED

CLASINA LIMITED (REGISTERED NUMBER: 10607572)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLASINA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: I C Austin
S C M Austin





REGISTERED OFFICE: 185 High Street
Chesterton
Cambridge
Cambridgeshire
CB4 1NL





REGISTERED NUMBER: 10607572 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

CLASINA LIMITED (REGISTERED NUMBER: 10607572)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 10,113 12,984
Investment property 6 481,000 477,000
491,113 489,984

CURRENT ASSETS
Debtors 7 2,009 -
Cash at bank 4,956 1,319
6,965 1,319
CREDITORS
Amounts falling due within one year 8 (242,877 ) (226,073 )
NET CURRENT LIABILITIES (235,912 ) (224,754 )
TOTAL ASSETS LESS CURRENT LIABILITIES 255,201 265,230

CREDITORS
Amounts falling due after more than one
year

9

(228,372

)

(236,607

)

PROVISIONS FOR LIABILITIES 11 (10,163 ) (14,422 )
NET ASSETS 16,666 14,201

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings 16,665 14,200
SHAREHOLDERS' FUNDS 16,666 14,201

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

CLASINA LIMITED (REGISTERED NUMBER: 10607572)

BALANCE SHEET - continued
31ST MARCH 2024


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

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 12th November 2024 and were signed on its behalf by:





I C Austin - Director


CLASINA LIMITED (REGISTERED NUMBER: 10607572)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Clasina Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
Investment Property:

Investment property has been valued by the director at the fair value of the property at the balance sheet date having considered the value of similar property in the same geographic area and used property valuation sites such as Zoopla.

Turnover
Turnover represents the provision of accomodation and management services. This company is not VAT registered.

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 etc - 25% on cost and 10% on cost

Investment property
Initial recognition of investment property is at cost plus all costs incurred in bringing the property to it present condition.

Investment property is held at fair value with any changes in fair value being recognised in profit and loss.

Financial instruments
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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.

CLASINA LIMITED (REGISTERED NUMBER: 10607572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

3. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all material 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023
and 31st March 2024 30,684
DEPRECIATION
At 1st April 2023 17,700
Charge for year 2,871
At 31st March 2024 20,571
NET BOOK VALUE
At 31st March 2024 10,113
At 31st March 2023 12,984

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 477,000
Revaluations 4,000
At 31st March 2024 481,000
NET BOOK VALUE
At 31st March 2024 481,000
At 31st March 2023 477,000

CLASINA LIMITED (REGISTERED NUMBER: 10607572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

6. INVESTMENT PROPERTY - continued

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2019 (15,177 )
Valuation in 2021 40,000
Valuation in 2022 23,000
Valuation in 2023 (6,000 )
Valuation in 2024 4,000
Cost 435,177
481,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 435,177 435,177

Investment property was valued on an fair value basis on 31st March 2024 by the directors of the company. .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10 -
Other debtors 1,999 -
2,009 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,235 -
Trade creditors 1,999 -
Other creditors 232,643 226,073
242,877 226,073

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 228,372 236,607

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 195,432 195,437

CLASINA LIMITED (REGISTERED NUMBER: 10607572)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 236,607 236,607

Liabilities held under bank loans are secured by way of a fixed charge against the Company's investment property.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 10,163 14,422

Deferred
tax
£   
Balance at 1st April 2023 14,422
Excess of Capital Allowances (996 )
Over Depreciation
Change in fair value of
Investment property (3,263 )
Balance at 31st March 2024 10,163

Deferred tax is recognised in respect of the both the excess of capital allowances over depreciation and the change in the fair value of investment property.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £0.5 1 1

13. RELATED PARTY DISCLOSURES

During the year under review £8,112 (2023 £6,350) was advanced to the company by a director. At the balance sheet date, a balance of £184,263 (2023 £179,693) was owed to the directors.The balance is included within other creditors and is repayable on demand, bears no interest.