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REGISTERED NUMBER: 07788889 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

CLIFFE PROPERTIES LIMITED

CLIFFE PROPERTIES LIMITED (REGISTERED NUMBER: 07788889)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLIFFE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: A D Fry
S J Ashworth
R Fry





REGISTERED OFFICE: Cliffe House
Anthonys Way
Medway City Estate
Rochester
Kent
ME2 4DY





REGISTERED NUMBER: 07788889 (England and Wales)





ACCOUNTANTS: SHPD Accountants
10 Littlebourne Road
Maidstone
Kent
ME14 5QP

CLIFFE PROPERTIES LIMITED (REGISTERED NUMBER: 07788889)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,047 3,043
Investment property 5 3,719,295 3,719,295
3,746,342 3,722,338

CURRENT ASSETS
Debtors 6 92,357 95,628
Cash at bank 129,914 131,021
222,271 226,649
CREDITORS
Amounts falling due within one year 7 355,884 381,030
NET CURRENT LIABILITIES (133,613 ) (154,381 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,612,729 3,567,957

CREDITORS
Amounts falling due after more than one year 8 (1,321,126 ) (1,398,654 )

PROVISIONS FOR LIABILITIES (500,353 ) (494,352 )
NET ASSETS 1,791,250 1,674,951

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 1,790,950 1,674,651
SHAREHOLDERS' FUNDS 1,791,250 1,674,951

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

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

CLIFFE PROPERTIES LIMITED (REGISTERED NUMBER: 07788889)

BALANCE SHEET - continued
30 SEPTEMBER 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 Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by:




A D Fry - Director



S J Ashworth - Director


CLIFFE PROPERTIES LIMITED (REGISTERED NUMBER: 07788889)

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

1. STATUTORY INFORMATION

Cliffe Properties 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Computer equipment - 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

CLIFFE PROPERTIES LIMITED (REGISTERED NUMBER: 07788889)

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

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 October 2023 5,569 - 5,569
Additions 27,051 287 27,338
At 30 September 2024 32,620 287 32,907
DEPRECIATION
At 1 October 2023 2,526 - 2,526
Charge for year 3,262 72 3,334
At 30 September 2024 5,788 72 5,860
NET BOOK VALUE
At 30 September 2024 26,832 215 27,047
At 30 September 2023 3,043 - 3,043

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 3,719,295
NET BOOK VALUE
At 30 September 2024 3,719,295
At 30 September 2023 3,719,295

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2020 2,234,363
Valuation in 2021 (575,000 )
Valuation in 2023 315,000
Cost 1,744,932
3,719,295

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 91,531 86,085
Other debtors 826 9,543
92,357 95,628

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 77,524 69,281
Trade creditors 6,247 6,051
Taxation and social security 77,012 74,941
Other creditors 195,101 230,757
355,884 381,030

CLIFFE PROPERTIES LIMITED (REGISTERED NUMBER: 07788889)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,321,126 1,398,654

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,398,650 1,467,935

National Westminster Bank Plc has provided a loan dated 27 November 2019 for the value of £1,650,000. This loan is secured over the property site known as plots K1, K2 and V4 on George Summers Close. The repayment period is 5 years with an interest rate of 4.5% over base rate. As at 30 September 2024 a balance of £1,398,650 remained in the balance sheet.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £18,000 were paid to the directors .

R Fry
A director and shareholder of the company

As at the balance sheet date, a balance of £36,000 (2023 - £46,000) was owed to the director.


A D Fry
A director and shareholder of the company

As at the balance sheet date, a balance of £32,000 (2023 - £46,000) was owed to the director.


S J Ashworth
A director and shareholder of the company

As at the balance sheet date, a balance of £36,000 (2023 - £45,500) was owed to the director.

11. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party of the company.