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Registered Number: 10562662
England and Wales

 

 

 

B2: CLINIC PROPERTY LTD.


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 625,000    602,025 
625,000    602,025 
Current assets      
Cash at bank and in hand 2,665    4,451 
Creditors: amount falling due within one year (196,606)   (192,089)
Net current assets (193,941)   (187,638)
 
Total assets less current liabilities 431,059    414,387 
Creditors: amount falling due after more than one year (383,029)   (397,500)
Provisions for liabilities (5,744)  
Net assets 42,286    16,887 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 42,186    16,787 
Shareholders' funds 42,286    16,887 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 21 February 2025 and were signed by:


-------------------------------
Ben Boulter
Director
1
General Information
B2: Clinic Property Ltd. is a private company, limited by shares, registered in England and Wales, registration number 10562662, registration address 2 Claridge Court, Lower Kings Road, Berkhamsted, Hertfordshire, HP4 2AF

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.  The company has taken advantage of the following disclosure exemptions with FRS 102 Section 1A:
  • The requirement to present a statement of cash flows and related notes.
  • Financial instrument disclosures including categories of financial instruments, items of income, expenses, gains or losses relating to financial instruments, and exposure to and management of financial risks.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover includes revenue earned from the rental of property.  The policies adopted are as follows:
  • Rental of Property: Turnover from the rental of property is recognised on an accrual basis in line with the contract in place with the tenant.  Rents are recognised when due for payment.
  • Other Revenue:  Other revenue is recognised when it is received or when the right to receive payment is established.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.

Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixed asset investments properties
Fixed asset investment properties are stated at their fair value in the accounts in accordance with FRS 102 accounting policy Section 16. These are included in the statement of financial position at their fair value at the statement of financial position date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the statement of financial position to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The following are significant management judgements in applying the accounting policies of the group that have the most significant effect on the financial statements.
  • Investment Property Valuation
As with any valuation there is an element of subjectivity. The Directors have valued the investment properties based on their skill and judgement, having had extensive experience in the property sector. The directors believe the carrying value reflects the true fair market value at the date of the report.  

2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 April 2023 602,025    2,345    604,370 
Additions    
Disposals    
Revaluations 22,975      22,975 
At 31 March 2024 625,000    2,345    627,345 
Depreciation
At 01 April 2023   2,345    2,345 
Charge for year    
On disposals    
At 31 March 2024   2,345    2,345 
Net book values
Closing balance as at 31 March 2024 625,000      625,000 
Opening balance as at 01 April 2023    


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

5.

Creditors over 1 year

The Bank loans are secured against the Investment Property.
2