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REGISTERED NUMBER: 10164885 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

CLIFF PROPERTIES LTD

CLIFF PROPERTIES LTD (REGISTERED NUMBER: 10164885)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CLIFF PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: M I Lorincz





REGISTERED OFFICE: 14 Clifton Gardens
London
N15 6AP





REGISTERED NUMBER: 10164885 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

CLIFF PROPERTIES LTD (REGISTERED NUMBER: 10164885)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,202 1,414
Investment property 5 909,071 909,071
910,273 910,485

CURRENT ASSETS
Debtors 6 54,715 53,785
Cash at bank and in hand 73,174 28,442
127,889 82,227
CREDITORS
Amounts falling due within one year 7 (214,051 ) (352,502 )
NET CURRENT LIABILITIES (86,162 ) (270,275 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

824,111

640,210

CREDITORS
Amounts falling due after more than one
year

8

(559,510

)

(413,625

)

PROVISIONS FOR LIABILITIES (20,119 ) (20,119 )
NET ASSETS 244,482 206,466

CAPITAL AND RESERVES
Called up share capital 9 1 1
Fair value reserve 10 85,774 85,774
Retained earnings 158,707 120,691
SHAREHOLDERS' FUNDS 244,482 206,466

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CLIFF PROPERTIES LTD (REGISTERED NUMBER: 10164885)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 February 2025 and were signed by:





M I Lorincz - Director


CLIFF PROPERTIES LTD (REGISTERED NUMBER: 10164885)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Cliff Properties Ltd 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. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent received, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 1 (2023 - 1 ) .

CLIFF PROPERTIES LTD (REGISTERED NUMBER: 10164885)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2023
and 31 May 2024 1,664
DEPRECIATION
At 1 June 2023 250
Charge for year 212
At 31 May 2024 462
NET BOOK VALUE
At 31 May 2024 1,202
At 31 May 2023 1,414

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 909,071
NET BOOK VALUE
At 31 May 2024 909,071
At 31 May 2023 909,071

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2020 105,893
Valuation in 2021 534,107
Valuation in 2022 269,071
909,071

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors - 2,029
Other debtors 54,715 51,756
54,715 53,785

CLIFF PROPERTIES LTD (REGISTERED NUMBER: 10164885)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors - 144,087
Taxation and social security 18,120 12,512
Other creditors 195,931 195,903
214,051 352,502

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 559,510 413,625

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 559,510 413,625

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Fair
value
reserve
£   
At 1 June 2023
and 31 May 2024 85,774

11. ULTIMATE CONTROLLING PARTY

The controlling party is M I Lorincz.