Registered number
12057561
Claremont Commercial 1 Ltd
Filleted Accounts
31 March 2024
Claremont Commercial 1 Ltd
Registered number: 12057561
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investment Properties 3 625,000 625,000
Current assets
Debtors 4 2,500 -
Cash at bank and in hand 6,186 2,625
8,686 2,625
Creditors: amounts falling due within one year 5 (122,877) (89,181)
Net current liabilities (114,191) (86,556)
Total assets less current liabilities 510,809 538,444
Creditors: amounts falling due after more than one year 6 (531,103) (541,731)
Net liabilities (20,294) (3,287)
Capital and reserves
Called up share capital 100 100
Profit and loss account (20,394) (3,387)
Shareholders' funds (20,294) (3,287)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Manjit Singh Deol
Director
Approved by the board on 2 December 2024
Claremont Commercial 1 Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from 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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at reporting end date. Changes if any in the fair value are recognised in profit and loss.
2024
£
Fair value
At 1 April 2023 625,000
Addition -
Disposal -
At 31 March 2024 625,000
The fair value of the investment properties has been arrived at on the basis of a valuation carried
out at 31 March 2024 by the director. The valuation was made on an open market value basis by
reference to market evidence of transaction prices for similar properties.
4 Debtors 2024 2023
£ £
Other debtors 2,500 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,613 7,386
Trade creditors 100,000 70,000
Taxation and social security costs - 544
Other creditors 11,264 11,251
122,877 89,181
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 356,418 371,046
Other creditors 174,685 170,685
531,103 541,731
7 Other information
Claremont Commercial 1 Ltd is a private company limited by shares and incorporated in England. Its registered office is:
18-21 Summer Hill Terrace
Birmingham
England
B1 3RA
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