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Company Registration No. 04648650 (England and Wales)
Clowntech Limited Unaudited accounts for the year ended 31 December 2023
Clowntech Limited Unaudited accounts Contents
Page
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Clowntech Limited Company Information for the year ended 31 December 2023
Directors
Alexander Beare Adrianne Beare Sasha Gelding
Secretary
Adrianne Beare
Company Number
04648650 (England and Wales)
Registered Office
5-7 Mandeville Place London W1U 3AY England
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Clowntech Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
17,639 
Investments
1,233,721 
3,045,707 
1,233,721 
3,063,346 
Current assets
Debtors
1,406,720 
154,833 
Cash at bank and in hand
764,325 
564,423 
2,171,045 
719,256 
Creditors: amounts falling due within one year
(6,374)
(517,570)
Net current assets
2,164,671 
201,686 
Total assets less current liabilities
3,398,392 
3,265,032 
Creditors: amounts falling due after more than one year
(1,454,644)
(1,171,682)
Provisions for liabilities
Deferred tax
(56,602)
(509,701)
Net assets
1,887,146 
1,583,649 
Capital and reserves
Called up share capital
1,000 
1,000 
Revaluation reserve
724,815 
1,533,456 
Profit and loss account
1,161,331 
49,193 
Shareholders' funds
1,887,146 
1,583,649 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by
Alexander Beare Director Company Registration No. 04648650
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Clowntech Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Clowntech Limited is a private company, limited by shares, registered in England and Wales, registration number 04648650. The registered office is 5-7 Mandeville Place, London, W1U 3AY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Taxation
Taxation for the year 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 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.
Turnover
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 rendering of services. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.
Investments
Investments in shares are measured at fair value. Changes in fair value are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the investments are sold.
Investment property
Investment property is measured at fair value. Changes in fair value are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the investments are sold.
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Clowntech Limited Notes to the Accounts for the year ended 31 December 2023
Tangible fixed assets and depreciation
No depreciation is provided in respect of freehold investment properties. This departure from the requirements of the Companies Act 2006, for all properties to be depreciated, is necessary, as the directors consider that this accounting policy results in the accounts giving a true and fair view.
Cash flow statement
The company is exempted from the requirement to prepare a cash flow statement (in accordance with Financial Reporting Standard No. 1) on the basis of its being a small company as defined by the Companies Act 2006.
Value added tax
The company is not registered for Value Added Tax. All expenditure pertaining to the company is stated inclusive of Value Added Tax.
Debtors
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, less any impairment losses for bad and doubtful debts.
Creditors
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
Provisions
Provisions (ie) liabilities of uncertain timing or amount are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours
Acquisition and disposals of investments
Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the accounts accordingly.
Going concern
The COVID-19 pandemic has adversely affected the wider macro economy. It is possible that income will decline due to further lockdowns as it has impacted these accounts. These risks are beyond the control of the company and represent uncertainty as to revenue and asset values for the forthcoming 12 months. However, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future after taking into account all known factors including the present impact of COVID-19 and thus they continue to adopt the going concern basis of accounting in preparing the accounts.
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Clowntech Limited Notes to the Accounts for the year ended 31 December 2023
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying value of assets assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates, The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 January 2023
17,639 
Disposals
(17,639)
At 31 December 2023
- 
Depreciation
At 31 December 2023
- 
Net book value
At 31 December 2023
- 
At 31 December 2022
17,639 
5
Contingent liabilities
On 11th March 2020 the World Health Organisation declared the coronavirus (COVID-19) a worldwide pandemic. There are no comparable recent events which may provide guidance as to the effects of the pandemic and the ultimate impact of COVID-19 is uncertain.
6
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Loan
(73,317)
1,590,311 
923,884 
593,110 
Loan
(77,634)
503,396 
246,635 
179,127 
(150,951)
2,093,707 
1,170,519 
772,237 
The directors loans were repaid within nine months of the year end.
7
Transactions with related parties
Included in debtors as amounts due by group undertakings is £577,180 (2022 - £48,054) due from companies in which Alexander Beare is a director and the company is a shareholder. The amounts are interest free and repayable on demand. Included in creditors as amounts due to group undertakings is £NIL (2022 - £360,245) due to companies in which companies Alexander Beare is a director and the company is a shareholder. The amounts are interest free and repayable on demand. The company has taken advantage of the exemptions provided for in FRS 102-1A and has not disclosed the details of transactions with group member undertakings.
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Clowntech Limited Notes to the Accounts for the year ended 31 December 2023
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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