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REGISTERED NUMBER: 05633807 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JANUARY 2024

FOR

CLIFTON PROPERTIES (BRIGHTON) LIMITED

CLIFTON PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 05633807)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CLIFTON PROPERTIES (BRIGHTON) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JANUARY 2024







DIRECTORS: Ms J C J Bunday
I R Bunday





SECRETARY: Ms J C J Bunday





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 05633807 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

CLIFTON PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 05633807)

BALANCE SHEET
30 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 43,500 43,500
Investment property 6 1,200,000 -
1,243,500 43,500

CURRENT ASSETS
Stocks 7 1,374,410 878,006
Debtors 8 86,172 84,286
Cash at bank 89,999 416,542
1,550,581 1,378,834
CREDITORS
Amounts falling due within one year 9 505,753 140,077
NET CURRENT ASSETS 1,044,828 1,238,757
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,288,328

1,282,257

CREDITORS
Amounts falling due after more than one
year

10

1,858,028

802,510
NET ASSETS 430,300 479,747

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 430,298 479,745
SHAREHOLDERS' FUNDS 430,300 479,747

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 January 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by:




I R Bunday - Director


CLIFTON PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 05633807)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2024

1. STATUTORY INFORMATION

Clifton Properties (Brighton) 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.

2. 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.

Turnover
Turnover represents the following types of income:

- Rental income
- Income from the sale of properties

All income is recognised on a receivable basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location.

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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

CLIFTON PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 05633807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 31 January 2023 630
Disposals (630 )
At 30 January 2024 -
DEPRECIATION
At 31 January 2023 630
Eliminated on disposal (630 )
At 30 January 2024 -
NET BOOK VALUE
At 30 January 2024 -
At 30 January 2023 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 31 January 2023
and 30 January 2024 43,500
NET BOOK VALUE
At 30 January 2024 43,500
At 30 January 2023 43,500

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Reclassification/transfer 1,200,000
At 30 January 2024 1,200,000
NET BOOK VALUE
At 30 January 2024 1,200,000

7. STOCKS
2024 2023
£    £   
Stocks 1,374,410 878,006

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by associates 85,541 83,570
Prepayments 631 716
86,172 84,286

CLIFTON PROPERTIES (BRIGHTON) LIMITED (REGISTERED NUMBER: 05633807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JANUARY 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,313 6,163
Trade creditors 1,925 -
Amounts owed to associates 115,242 79,821
Tax 85,031 100
Other creditors 58,599 8,588
Directors' loan accounts 233,934 43,481
Deferred income 3,639 -
Accrued expenses 2,070 1,924
505,753 140,077

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,447 6,163
Bank loans - 2-5 years 17,180 18,490
Bank loans more 5 yr by instal 788,106 777,857
Other creditors 1,047,295 -
1,858,028 802,510

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 788,106 777,857

11. SECURED DEBTS

Bank borrowing is secured by way of a legal charge over the stock properties owned by the company.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, Mr I & Mrs J Bunday increased their loan to the company. As at 31 January 2024, the company owed them £233,934 (2023: £43,481). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

13. RELATED PARTY DISCLOSURES

As at 31 January 2024, the company owes Starfish Properties (Brighton) Limited £115,242 (2023: £79,821). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.
Ms J C J Bunday and I R Bunday are majority shareholders and directors of Starfish Properties (Brighton) Limited.

As at 31 January 2024, Woodmancote Properties Limited owed the company £85,541 (2023: £83,570). All transactions were undertaken on a commercial arms length basis and any outstanding amounts are interest free and repayable on demand.
Ms J C J Bunday and I R Bunday are majority shareholders and directors of Woodmancote Properties Limited.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I R Bunday & Mrs J C J Bunday.

This was by virtue of their 100% holding of the issued share capital.