0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 605,000 605,000 605,000 xbrli:pure xbrli:shares iso4217:GBP 00605705 2023-07-01 2024-06-30 00605705 2024-06-30 00605705 2023-06-30 00605705 2022-07-01 2023-06-30 00605705 2023-06-30 00605705 2022-06-30 00605705 bus:Director4 2023-07-01 2024-06-30 00605705 core:WithinOneYear 2024-06-30 00605705 core:WithinOneYear 2023-06-30 00605705 core:ShareCapital 2024-06-30 00605705 core:ShareCapital 2023-06-30 00605705 core:RevaluationReserve 2024-06-30 00605705 core:RevaluationReserve 2023-06-30 00605705 core:RetainedEarningsAccumulatedLosses 2024-06-30 00605705 core:RetainedEarningsAccumulatedLosses 2023-06-30 00605705 core:LandBuildings 2024-06-30 00605705 core:LandBuildings 2023-06-30 00605705 bus:Director1 2023-07-01 2024-06-30 00605705 bus:SmallEntities 2023-07-01 2024-06-30 00605705 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 00605705 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 00605705 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00605705 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 00605705
Clasketgate Properties Limited
Filleted Unaudited Financial Statements
For the year ended
30 June 2024
Clasketgate Properties Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
605,000
605,000
Current assets
Debtors
5
54,708
53,086
Cash at bank and in hand
10,143
13,371
--------
--------
64,851
66,457
Creditors: amounts falling due within one year
6
35,366
21,999
--------
--------
Net current assets
29,485
44,458
---------
---------
Total assets less current liabilities
634,485
649,458
Provisions
Taxation including deferred tax
70,360
73,205
---------
---------
Net assets
564,125
576,253
---------
---------
Capital and reserves
Called up share capital
2,620
2,620
Revaluation reserve
531,606
531,606
Profit and loss account
29,899
42,027
---------
---------
Shareholders funds
564,125
576,253
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Clasketgate Properties Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 19 March 2025 , and are signed on behalf of the board by:
J B Nissler
Director
Company registration number: 00605705
Clasketgate Properties Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Vicarage, Vicarage Lane, Dunston, Lincoln, LN4 2EL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Deferred tax is measured using the 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
4. Tangible assets
Investment Property
£
Cost
At 1 July 2023 and 30 June 2024
605,000
---------
Depreciation
At 1 July 2023 and 30 June 2024
---------
Carrying amount
At 30 June 2024
605,000
---------
At 30 June 2023
605,000
---------
No depreciation is provided on investment property as current values are considered to be their future net realisable values. Investment property was revalued in 2017 to its fair value based on professional valuations.
5. Debtors
2024
2023
£
£
Trade debtors
3,337
2,817
Other debtors
51,371
50,269
--------
--------
54,708
53,086
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
1,766
Other creditors
35,366
20,233
--------
--------
35,366
21,999
--------
--------
7. Related party transactions
The company is controlled by its directors.