Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-302023-07-01falseBuying and selling of own real estate22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12488780 2023-07-01 2024-06-30 12488780 2022-07-01 2023-06-30 12488780 2024-06-30 12488780 2023-06-30 12488780 c:Director1 2023-07-01 2024-06-30 12488780 c:Director2 2023-07-01 2024-06-30 12488780 d:FreeholdInvestmentProperty 2024-06-30 12488780 d:FreeholdInvestmentProperty 2023-06-30 12488780 d:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 12488780 d:CurrentFinancialInstruments 2024-06-30 12488780 d:CurrentFinancialInstruments 2023-06-30 12488780 d:Non-currentFinancialInstruments 2024-06-30 12488780 d:Non-currentFinancialInstruments 2023-06-30 12488780 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 12488780 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 12488780 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 12488780 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 12488780 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 12488780 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 12488780 d:ShareCapital 2024-06-30 12488780 d:ShareCapital 2023-06-30 12488780 d:InvestmentPropertiesRevaluationReserve 2023-07-01 2024-06-30 12488780 d:InvestmentPropertiesRevaluationReserve 2024-06-30 12488780 d:InvestmentPropertiesRevaluationReserve 2023-06-30 12488780 d:RetainedEarningsAccumulatedLosses 2024-06-30 12488780 d:RetainedEarningsAccumulatedLosses 2023-06-30 12488780 c:FRS102 2023-07-01 2024-06-30 12488780 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 12488780 c:FullAccounts 2023-07-01 2024-06-30 12488780 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12488780 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 12488780






ALLEN CLARK PROPERTIES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










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ALLEN CLARK PROPERTIES LIMITED
REGISTERED NUMBER:12488780

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
  
380,000
373,000

  
380,000
373,000

Current assets
  

Debtors: amounts falling due within one year
  
183,938
515

Cash at bank and in hand
 6 
41,228
22,345

  
225,166
22,860

Creditors: amounts falling due within one year
 7 
(307,272)
(308,870)

Net current liabilities
  
 
 
(82,106)
 
 
(286,010)

Total assets less current liabilities
  
297,894
86,990

Creditors: amounts falling due after more than one year
  
(199,520)
-

Provisions for liabilities
  

Deferred tax
  
(19,458)
(17,708)

  
 
 
(19,458)
 
 
(17,708)

Net assets
  
78,916
69,282


Capital and reserves
  

Called up share capital 
  
100
100

Investment property reserve
  
58,374
53,124

Profit and loss account
  
20,442
16,058

  
78,916
69,282


Page 1

 
ALLEN CLARK PROPERTIES LIMITED
REGISTERED NUMBER:12488780
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

J T Allen
R S Clark
Director
Director


Date: 21 October 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ALLEN CLARK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Allen Clark Properties Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Millhouse, 32-38 East Street, Rochford, Essex, England, SS4 1DB.
 The principal activity of the company is that of investment property.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ALLEN CLARK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
ALLEN CLARK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
 
Page 5

 
ALLEN CLARK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 -2).

Page 6

 
ALLEN CLARK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
373,000


Surplus on revaluation
7,000



At 30 June 2024
380,000

The 2024 valuations were made by the directors of the company, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 1 July 2023
53,124
-

Net surplus/(deficit) in movement properties
77,832
70,832

At 30 June 2024
130,956
70,832



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
302,168
302,168

302,168
302,168


5.


Debtors

2024
2023
£
£


Amounts owed by connected companies
182,001
-

Prepayments and accrued income
1,937
515

183,938
515


Page 7

 
ALLEN CLARK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
41,228
22,345

41,228
22,345



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,080
-

Other taxation and social security
1,052
3,767

Other creditors
304,060
304,023

Accruals and deferred income
1,080
1,080

307,272
308,870



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
199,520
-

199,520
-



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
199,520
-

199,520
-

199,520
-


Page 8

 
ALLEN CLARK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Reserves

Investment property revaluation reserve

This reserve forms part of the profit and loss reserve representing the non-distributable element arising from the revlauation of investment property net of deferred tax.

 
Page 9