Registered number
11142903
Clement & Michiyo Limited
Filleted Accounts
31 January 2024
Clement & Michiyo Limited
Registered number: 11142903
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 482,202 482,202
Investments 4 1 1
482,203 482,203
Current assets
Debtors 5 3,500 2,500
Cash at bank and in hand 6,548 14,728
10,048 17,228
Creditors: amounts falling due within one year 6 (194,209) (203,667)
Net current liabilities (184,161) (186,439)
Total assets less current liabilities 298,042 295,764
Creditors: amounts falling due after more than one year 7 (290,053) (283,998)
Net assets 7,989 11,766
Capital and reserves
Called up share capital 2 2
Profit and loss account 7,987 11,764
Shareholders' funds 7,989 11,766
The directors are 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 directors acknowledge their 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.
Clement Ser
Director
Approved by the board on 28 January 2025
Clement & Michiyo Limited
Notes to the Accounts
for the year ended 31 January 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.
Investment property
Investment properties are those which are held either to earn rental income or for capital appreciation or for both. Investment properties are measured at cost, including related transaction costs. After initial recognition at cost, investment properties are carried at their fair values based on market value determined by Directors annually and by professional independent valuers every three years. The difference between the fair value of an investment at the reporting date and its carrying amount prior to re-measurement is included in the income statement as a valuation surplus or deficit.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 February 2023 482,202
At 31 January 2024 482,202
Depreciation
At 31 January 2024 -
Net book value
At 31 January 2024 482,202
At 31 January 2023 482,202
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 February 2023 1
At 31 January 2024 1
The company owns 1 ordinary share having face value of £1 each of 21 Horn Lane Freehold Ltd which constitutes to 33% of total shareholding of the company.
5 Debtors 2024 2023
£ £
Trade debtors 3,500 2,500
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,248 9,248
Trade creditors 545 -
Taxation and social security costs 1,306 1,278
Other creditors 183,110 193,141
194,209 203,667
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 290,053 283,998
8 Other information
Clement & Michiyo Limited is a private company limited by shares and incorporated in England. Its registered office is:
71 Commonside West
Mitcham
CR4 4HB
Clement & Michiyo Limited 11142903 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts July 2024 Clement Ser No description of principal activity 11142903 2022-02-01 2023-01-31 11142903 core:WithinOneYear 2023-01-31 11142903 core:AfterOneYear 2023-01-31 11142903 core:ShareCapital 2023-01-31 11142903 core:RetainedEarningsAccumulatedLosses 2023-01-31 11142903 2023-02-01 2024-01-31 11142903 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11142903 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 11142903 bus:Director40 2023-02-01 2024-01-31 11142903 1 2023-02-01 2024-01-31 11142903 2 2023-02-01 2024-01-31 11142903 countries:England 2023-02-01 2024-01-31 11142903 bus:FRS102 2023-02-01 2024-01-31 11142903 bus:FilletedAccounts 2023-02-01 2024-01-31 11142903 2024-01-31 11142903 core:WithinOneYear 2024-01-31 11142903 core:AfterOneYear 2024-01-31 11142903 core:ShareCapital 2024-01-31 11142903 core:RetainedEarningsAccumulatedLosses 2024-01-31 11142903 core:LandBuildings 2024-01-31 11142903 2023-01-31 11142903 core:LandBuildings 2023-01-31 iso4217:GBP xbrli:pure