Registration number: 00872462

C.L. Projects Limited

Contents

Company Information	1
Abridged Statement of Financial Position	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 8

C.L. Projects Limited

Company Information

Directors

Mr A Binnie The Hon J.W. Lubbock Lady L Avebury The Hon V.S.M. Lubbock

Registered office

79 Essex Road Islington London N1 2SF

Accountants

CPP, Chartered Accountants 79 Essex Road Islington London N1 2SF

C.L. Projects Limited

(Registration number: 00872462)
Abridged Statement of Financial Position as at 30 November 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	1,596	590
Other financial assets	6	2,379,612	1,461,576
		2,381,208	1,462,166
Current assets
Stocks	7	-	330,864
Debtors		6,483	138,518
Cash at bank and in hand		438,375	376,809
		444,858	846,191
Prepayments and accrued income		132,163	172,761
Creditors: Amounts falling due within one year		(227,164)	(179,931)
Net current assets		349,857	839,021
Total assets less current liabilities		2,731,065	2,301,187
Provisions for liabilities		(303)	(112)
Accruals and deferred income		(25,284)	(4,342)
Net assets		2,705,478	2,296,733
Capital and reserves
Called up share capital		20,000	20,000
Retained earnings		2,685,478	2,276,733
Shareholders' funds		2,705,478	2,296,733

C.L. Projects Limited

(Registration number: 00872462)
Abridged Statement of Financial Position as at 30 November 2024

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 4 April 2025 and signed on its behalf by:
 

.........................................

Mr A Binnie

Director

C.L. Projects Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
79 Essex Road
Islington
London
N1 2SF
England

These financial statements were authorised for issue by the Board on 4 April 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

C.L. Projects Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25%, straight line
Leasehold	The leasehold is being depreciated over 10 years representing the duration remaining on the lease at the date of purchase.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Goodwill is amortised over 10 years from the date of purchase.

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

C.L. Projects Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Dividends

Dividends income represents net dividends from quoted investments and is recognised when the shareholder's
right to receive payment is established.

Defined contribution pension obligation

The company makes discretionary contributions to the personal pension plans of certain directors which are
charged to the profit and loss account.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

C.L. Projects Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

4	Intangible assets

	Total £
Cost or valuation
At 1 December 2023	1,115,000
At 30 November 2024	1,115,000
Amortisation
At 1 December 2023	1,115,000
At 30 November 2024	1,115,000
Carrying amount
At 30 November 2024	-

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 December 2023	285,000	3,953	288,953
Additions	-	1,481	1,481
Disposals	-	(2,415)	(2,415)
At 30 November 2024	285,000	3,019	288,019
Depreciation
At 1 December 2023	285,000	3,363	288,363
Charge for the year	-	475	475
Eliminated on disposal	-	(2,415)	(2,415)
At 30 November 2024	285,000	1,423	286,423
Carrying amount
At 30 November 2024	-	1,596	1,596
At 30 November 2023	-	590	590

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of long leasehold land and buildings.
 

C.L. Projects Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

6	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 December 2023	1,461,576	1,461,576
Additions	1,017,807	1,017,807
Disposals	(99,771)	(99,771)
At 30 November 2024	2,379,612	2,379,612
Impairment
Carrying amount
At 30 November 2024	2,379,612	2,379,612

7

Stocks

	2024 £	2023 £
Work in progress	-	330,864