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Filleted
Registration number: 12324490

Clifford Crane Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Clifford Crane Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Clifford Crane Properties Ltd

Company Information

Directors

Mrs L A Clifford

Mr M C Clifford

Registered office

16 Tair Onen
Cowbridge
CF71 7UA

Accountants

LHP Accountants Ltd
Chartered Certified AccountantsLlys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Clifford Crane Properties Ltd

(Registration number: 12324490)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

211,173

111,173

Current assets

 

Cash at bank and in hand

 

12,314

9,474

Creditors: Amounts falling due within one year

6

(159,461)

(59,467)

Net current liabilities

 

(147,147)

(49,993)

Total assets less current liabilities

 

64,026

61,180

Creditors: Amounts falling due after more than one year

6

(82,102)

(82,238)

Net liabilities

 

(18,076)

(21,058)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(18,176)

(21,158)

Shareholders' deficit

 

(18,076)

(21,058)

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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 March 2025 and signed on its behalf by:
 

.........................................
Mrs L A Clifford
Director

.........................................
Mr M C Clifford
Director

 
     
 

Clifford Crane Properties Ltd

Notes to the Unaudited 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 & Wales.

The address of its registered office is:
16 Tair Onen
Cowbridge
CF71 7UA

These financial statements were authorised for issue by the Board on 7 March 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 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 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 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.

 

Clifford Crane Properties Ltd

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Clifford Crane Properties Ltd

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

4

Investment properties

2024
£

At 1 December

111,173

Additions

100,000

At 30 November

211,173

There has been no valuation of investment property by an independent valuer.

 

Clifford Crane Properties Ltd

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

5

Debtors

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Other related parties

 

109,095

59,118

Other creditors

 

50,366

349

 

159,461

59,467

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

82,102

82,238

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

82,102

82,238

Other borrowings

The Mortgage Works (UK) PLC hold a legal charge created 5th January 2021.

 

Clifford Crane Properties Ltd

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

9

Related party transactions

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Mrs L A Clifford

Interest free loan repayable on demand

(29,609)

704

(50,693)

(79,598)

Mr M C Clifford

Interest free loan repayable on demand

(29,609)

704

(693)

(29,598)

2023

At 1 December 2022
£

Repayments by director
£

At 30 November 2023
£

Mrs L A Clifford

Interest free loan repayable on demand

(23,510)

(6,099)

(29,609)

Mr M C Clifford

Interest free loan repayable on demand

(23,510)

(6,099)

(29,609)