Company registration number SC568765 (Scotland)
CLI INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
CLI INVESTMENTS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 6
CLI INVESTMENTS LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr I D MacKinnon
Company number
SC568765
Registered office
C/O Wright Business Centre
1 Lonmay Road
Glasgow
United Kingdom
G33 4EL
Accountants
Consilium Chartered Accountants
169 West George Street
Glasgow
Scotland
G2 2LB
CLI INVESTMENTS LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 2 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Investments
3
18,793
16,601
Current assets
Debtors
4
42,029
42,029
Cash at bank and in hand
168,213
164,720
210,242
206,749
Creditors: amounts falling due within one year
5
(173,000)
(172,840)
Net current assets
37,242
33,909
Net assets
56,035
50,510
Capital and reserves
Called up share capital
6
1
1
Fair value reserve
(16,204)
(18,396)
Profit and loss reserves
72,238
68,905
Total equity
56,035
50,510

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 21 March 2025
Mr I D MacKinnon
Director
Company Registration No. SC568765
CLI INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

CLI Investments Limited is a private company limited by shares incorporated in Scotland. The registered office is C/O Wright Business Centre, 1 Lonmay Road, Glasgow, United Kingdom, G33 4EL. The company's registration number is SC568765.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of listed investments. The principal accounting policies adopted are set out below.

1.2
Turnover

The turnover shown in the Statement of Comprehensive Income represents the value of interest, dividends and charges received during the year.

1.3
Fixed asset investments

Investments are stated at market value.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

CLI INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Total
-
0
-
0
3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
18,793
16,601
CLI INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
3
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 July 2023
16,601
Valuation changes
2,192
At 30 June 2024
18,793
Carrying amount
At 30 June 2024
18,793
At 30 June 2023
16,601
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
42,029
42,029
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
173,000
172,840
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1
1
1
7
Related party transactions

At the balance sheet date the amount due to the director was £171,100 (2023 - £171,100). This loan is unsecured, interest free with no fixed date for repayment.

 

At the balance sheet date the total amount due from related parties was £42,029 (2023 - £42,029). The loan is unsecured, interest free with no fixed date for repayment.

 

No further transactions with related parties were undertaken such as are required to be disclosed under the provisions of Section 1A "Small Entities" of financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

CLI INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
(Continued)
- 6 -
8
Prior period adjustments

Unrealised gains and losses on investments were previously incorrectly presented directly in the profit and loss account instead of other comprehensive income. In addition on the balance sheet the cumulative gain or loss on investments was disclosed within retained earnings but given these amounts are non distributable it was preferred to present this in a separate fair value reserve.

 

As at 30 June 2022, £11,662 loss on investment valuations have been reallocated to the fair value reserve. For the year ended 30 June 2023, £6,734 loss on investment in the year has been reallocated from administrative expenses to other comprehensive income and at 30 June 2023 the overall loss on investment valuations of £18,396 have been reallocated to the fair value reserve.

 

Overall there has been no change in the statement of comprehensive income or net assets at 30 June 2022 or 30 June 2023.

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