Silverfin true false 31/03/2024 01/04/2023 31/03/2024 Mr P R Clark 06/10/2022 12 March 2025 no description of principal activity 14402973 2024-03-31 14402973 bus:Director1 2024-03-31 14402973 2023-03-31 14402973 core:CurrentFinancialInstruments 2024-03-31 14402973 core:CurrentFinancialInstruments 2023-03-31 14402973 core:ShareCapital 2024-03-31 14402973 core:ShareCapital 2023-03-31 14402973 core:RetainedEarningsAccumulatedLosses 2024-03-31 14402973 core:RetainedEarningsAccumulatedLosses 2023-03-31 14402973 core:ShareCapital 2022-10-05 14402973 core:RetainedEarningsAccumulatedLosses 2022-10-05 14402973 2022-10-05 14402973 2023-04-01 2024-03-31 14402973 bus:FullAccounts 2023-04-01 2024-03-31 14402973 bus:SmallEntities 2023-04-01 2024-03-31 14402973 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14402973 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14402973 bus:Director1 2023-04-01 2024-03-31 14402973 2022-10-06 2023-03-31 14402973 core:ShareCapital 2022-10-06 2023-03-31 14402973 core:RetainedEarningsAccumulatedLosses 2022-10-06 2023-03-31 14402973 core:ShareCapital 2023-04-01 2024-03-31 14402973 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 14402973 dpl:Item1 2023-04-01 2024-03-31 14402973 dpl:Item1 2022-10-06 2023-03-31 14402973 dpl:AdministrativeExpenses 2023-04-01 2024-03-31 14402973 dpl:AdministrativeExpenses 2022-10-06 2023-03-31 14402973 dpl:AdministrativeExpenses dpl:Item1 2023-04-01 2024-03-31 14402973 dpl:AdministrativeExpenses dpl:Item1 2022-10-06 2023-03-31 14402973 dpl:AdministrativeExpenses dpl:Item2 2023-04-01 2024-03-31 14402973 dpl:AdministrativeExpenses dpl:Item2 2022-10-06 2023-03-31 iso4217:GBP xbrli:pure

Company No: 14402973 (England and Wales)

CLARK HOLDINGS (EPSOM) LIMITED

Annual Report and Unaudited Financial Statements
For the financial year ended 31 March 2024

CLARK HOLDINGS (EPSOM) LIMITED

Annual Report and Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CLARK HOLDINGS (EPSOM) LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
CLARK HOLDINGS (EPSOM) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Mr P R Clark
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
COMPANY NUMBER 14402973 (England and Wales)
CHARTERED ACCOUNTANTS GRAVITA III LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
CLARK HOLDINGS (EPSOM) LIMITED

DIRECTOR'S REPORT

For the financial year ended 31 March 2024
CLARK HOLDINGS (EPSOM) LIMITED

DIRECTOR'S REPORT (continued)

For the financial year ended 31 March 2024

The director presents this annual report and the unaudited financial statements of the Company for the financial year ended 31 March 2024.

DIRECTOR

The director, who served during the financial year and to the date of this report except as noted, was as follows:

Mr P R Clark

This Director's Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption provided by section 415A of the Companies Act 2006.



Approved and signed by:

Mr P R Clark
Director

12 March 2025

ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CLARK HOLDINGS (EPSOM) LIMITED

For the financial year ended 31 March 2024

ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CLARK HOLDINGS (EPSOM) LIMITED (continued)

For the financial year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Clark Holdings (Epsom) Limited for the financial year ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes 1 to 6 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Clark Holdings (Epsom) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Clark Holdings (Epsom) Limited. You consider that Clark Holdings (Epsom) Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Clark Holdings (Epsom) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Director of Clark Holdings (Epsom) Limited, as a body, in accordance with the terms of our engagement letter dated 24 October 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Clark Holdings (Epsom) Limited and state those matters that we have agreed to state to the director of Clark Holdings (Epsom) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Clark Holdings (Epsom) Limited and its Director as a body for our work or for this report.

GRAVITA III LLP
Chartered Accountants

Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom

12 March 2025

CLARK HOLDINGS (EPSOM) LIMITED

PROFIT AND LOSS ACCOUNT

For the financial year ended 31 March 2024
CLARK HOLDINGS (EPSOM) LIMITED

PROFIT AND LOSS ACCOUNT (continued)

For the financial year ended 31 March 2024
Year ended
31.03.2024
Period from
06.10.2022 to
31.03.2023
£ £
Turnover 457,058 74,236
Administrative expenses ( 146,696) ( 59,310)
Operating profit 310,362 14,926
Interest payable and similar expenses ( 84,106) 0
Profit before taxation 226,256 14,926
Tax on profit ( 46,877) ( 2,902)
Profit for the financial year/period 179,379 12,024
CLARK HOLDINGS (EPSOM) LIMITED

BALANCE SHEET

As at 31 March 2024
CLARK HOLDINGS (EPSOM) LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 31.03.2023
£ £
Fixed assets
Investment property 3 3,876,822 3,678,937
3,876,822 3,678,937
Current assets
Debtors 4 0 11,075
Cash at bank and in hand 35,266 32,666
35,266 43,741
Creditors: amounts falling due within one year 5 ( 3,720,585) ( 3,710,554)
Net current liabilities (3,685,319) (3,666,813)
Total assets less current liabilities 191,503 12,124
Net assets 191,503 12,124
Capital and reserves
Called-up share capital 100 100
Profit and loss account 191,403 12,024
Total shareholder's funds 191,503 12,124

For the financial year ending 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:

The financial statements of Clark Holdings (Epsom) Limited (registered number: 14402973) were approved and authorised for issue by the Director on 12 March 2025. They were signed on its behalf by:

Mr P R Clark
Director
CLARK HOLDINGS (EPSOM) LIMITED

STATEMENT OF CHANGES IN EQUITY

For the financial year ended 31 March 2024
CLARK HOLDINGS (EPSOM) LIMITED

STATEMENT OF CHANGES IN EQUITY (continued)

For the financial year ended 31 March 2024
Called-up share capital Profit and loss account Total
£ £ £
At 06 October 2022 0 0 0
Profit for the financial period 0 12,024 12,024
Total comprehensive income 0 12,024 12,024
Issue of share capital 100 0 100
At 31 March 2023 100 12,024 12,124
At 01 April 2023 100 12,024 12,124
Profit for the financial year 0 179,379 179,379
Total comprehensive income 0 179,379 179,379
At 31 March 2024 100 191,403 191,503
CLARK HOLDINGS (EPSOM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CLARK HOLDINGS (EPSOM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Clark Holdings (Epsom) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of rent and service charge receivable in the normal course of business, and is shown net of VAT and other sales related taxes.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2. Employees

Year ended
31.03.2024
Period from
06.10.2022 to
31.03.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Investment property

Investment property
£
Valuation
As at 01 April 2023 3,678,937
Additions 197,885
As at 31 March 2024 3,876,822

The fair value of the investment property has been arrived at on the basis of valuation carried out by the director at the year end. The valuation was made on an open market value basis.

4. Debtors

31.03.2024 31.03.2023
£ £
Prepayments 0 1,955
VAT recoverable 0 9,120
0 11,075

5. Creditors: amounts falling due within one year

31.03.2024 31.03.2023
£ £
Trade creditors 60,624 70,563
Taxation and social security 58,332 2,902
Other creditors 3,601,629 3,637,089
3,720,585 3,710,554

6. Related party transactions

At the balance sheet date, the company owed £3,336,201 (2023 : £3,522,889) to the director of the company. No interest is charged and the loan is repayable on demand.

CLARK HOLDINGS (EPSOM) LIMITED

DETAILED PROFIT AND LOSS ACCOUNT

For the financial year ended 31 March 2024
CLARK HOLDINGS (EPSOM) LIMITED

DETAILED PROFIT AND LOSS ACCOUNT (continued)

For the financial year ended 31 March 2024
Year ended
31.03.2024
Period from
06.10.2022 to
31.03.2023
£ £
Turnover
Sales 457,058 74,236
Administrative expenses
Travel and subsistence ( 3,440) ( 3,000)
General office ( 84) ( 190)
Bank charges ( 136) ( 50)
Repairs and maintenance ( 110,067) ( 47,356)
Accountancy fees ( 8,195) ( 4,250)
Legal and professional fees ( 23,845) ( 4,350)
Sundry expenses ( 929) ( 114)
(146,696) (59,310)
Operating profit 310,362 14,926
Interest payable and similar expenses
Other interest payable ( 84,106) 0
Profit before taxation 226,256 14,926