REGISTERED NUMBER: |
Financial Statements for the Period 24 April 2023 to 31 March 2024 |
for |
Clarendon Drive Properties Ltd |
REGISTERED NUMBER: |
Financial Statements for the Period 24 April 2023 to 31 March 2024 |
for |
Clarendon Drive Properties Ltd |
Clarendon Drive Properties Ltd (Registered number: 14823582) |
Contents of the Financial Statements |
for the Period 24 April 2023 to 31 March 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Clarendon Drive Properties Ltd |
Company Information |
for the Period 24 April 2023 to 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Foresters Hall |
25/27 Westow Street |
Upper Norwood |
London |
SE19 3RY |
Clarendon Drive Properties Ltd (Registered number: 14823582) |
Abridged Balance Sheet |
31 March 2024 |
Notes | £ |
CURRENT ASSETS |
Stocks |
Debtors |
CREDITORS |
Amounts falling due within one year | ( |
) |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | 7 | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Clarendon Drive Properties Ltd (Registered number: 14823582) |
Abridged Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Clarendon Drive Properties Ltd (Registered number: 14823582) |
Notes to the Financial Statements |
for the Period 24 April 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Clarendon Drive Properties Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Critical accounting judgements and key sources of estimation uncertainty |
The preparation of these financial statements requires the directors to note judgements and estimates that affect the reported amount of assets and liabilities at the balance sheet date and the reported profits for the financial year. |
Accounting standards require the directors to state the carrying amount of land under construction at the lower of cost and net realisable value. Determing the net realisable value involves estimating the eventual sales proceeds and additional costs to complete of sites under development which may differ from the actual sales proceeds received and the actual total additional costs incurred to complete the development. |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Stocks |
Stocks, comprising land held for development, and work in progress is valued at the lower of cost and net realisable value. Cost includes an appropriate proportion of overheads. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors, trade and other creditors, loans from banks and other third parties. |
Debt instruments, other than those wholly repayable or receivable within one year, including loans and other amounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method. |
Debt instruments which are payable or receivable within one year are measured at the undiscounted amount of the cash consideration expected to be paid or received. |
Clarendon Drive Properties Ltd (Registered number: 14823582) |
Notes to the Financial Statements - continued |
for the Period 24 April 2023 to 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Borrowing costs |
Finance costs are charged to the Statement of Income and Retained Earnings 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 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | LOANS |
An analysis of the maturity of loans is given below: |
£ |
Amounts falling due within one year or on demand: |
Bank loans |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
The company's bank borrowings are secured over its development projects. |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 100 |
100 Ordinary shares of £1 each were allotted and fully paid for |
Attached to the shares are a right to vote in general meetings, a right to receive dividends if declared by the company and a right to participate in distributions of capital, including on winding up. |
7. | RESERVES |
Retained |
earnings |
£ |
Deficit for the period | ( |
) |
At 31 March 2024 | ( |
) |
Clarendon Drive Properties Ltd (Registered number: 14823582) |
Notes to the Financial Statements - continued |
for the Period 24 April 2023 to 31 March 2024 |
8. | POST BALANCE SHEET EVENTS |
On 4 February 2025 the company's entire issued share capital was acquired by QES Developments Limited, incorporated in England. |
9. | ULTIMATE CONTROLLING PARTY |
The company's ultimate controlling party during the period under review was Octagon Group Limited, incorporated in England. |