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COMPANY REGISTRATION NUMBER: 4424062
Clarence Leeds Limited
Unaudited Financial Statements
30 September 2024
Clarence Leeds Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Officers and professional advisers
1
Directors' report
2
Accountants report to the board of directors on the preparation of the unaudited statutory financial statements
3
Statement of income and retained earnings
4
Statement of financial position
5
Notes to the financial statements
7
Clarence Leeds Limited
Officers and Professional Advisers
The board of directors
N Bleier
J Bleier
B Bleier
I Mett
Company secretary
N Bleier
Registered office
Unit 3 Edge Business Centre
Humber Road
London
NW2 6EW
Accountants
Haffner Hoff Ltd
Accountants
2nd Floor - Parkgates
Bury New Road
Prestwich
Manchester
M25 0TL
Bankers
Barclays Bank Plc
Business Banking
Broadgate 2
London Corporate Banking
Clarence Leeds Limited
Directors' Report
Year ended 30 September 2024
The directors present their report and the unaudited financial statements of the company for the year ended 30 September 2024 .
Directors
The directors who served the company during the year were as follows:
N Bleier
J Bleier
B Bleier
I Mett
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 24 March 2025 and signed on behalf of the board by:
N Bleier
N Bleier
Director
Company Secretary
Registered office:
Unit 3 Edge Business Centre
Humber Road
London
NW2 6EW
Clarence Leeds Limited
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Clarence Leeds Limited
Year ended 30 September 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 September 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Haffner Hoff Ltd Accountants
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
24 March 2025
Clarence Leeds Limited
Statement of Income and Retained Earnings
Year ended 30 September 2024
2024
2023
Note
£
£
Turnover
52,499
52,501
--------
--------
Gross profit
52,499
52,501
Administrative expenses
13,771
30,854
--------
--------
Operating profit
38,728
21,647
Interest payable and similar expenses
4
42,522
35,866
--------
--------
Loss before taxation
( 3,794)
( 14,219)
Tax on loss
-------
--------
Loss for the financial year and total comprehensive income
( 3,794)
( 14,219)
-------
--------
Retained earnings at the start of the year
4,880
19,099
-------
--------
Retained earnings at the end of the year
1,086
4,880
-------
--------
All the activities of the company are from continuing operations.
Clarence Leeds Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
875,000
875,000
Current assets
Debtors
6
52,341
29,397
Cash at bank and in hand
10,258
2,304
--------
--------
62,599
31,701
Creditors: amounts falling due within one year
7
333,069
278,011
---------
---------
Net current liabilities
270,470
246,310
---------
---------
Total assets less current liabilities
604,530
628,690
Creditors: amounts falling due after more than one year
8
526,401
546,767
---------
---------
Net assets
78,129
81,923
---------
---------
Capital and reserves
Called up share capital
1
1
Revaluation reserve
77,042
77,042
Profit and loss account
1,086
4,880
--------
--------
Shareholders funds
78,129
81,923
--------
--------
These financial statements have been prepared 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'.
For the year ending 30 September 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 .
Clarence Leeds Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:
N Bleier
Director
Company registration number: 4424062
Clarence Leeds Limited
Notes to the Financial Statements
Year ended 30 September 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 Unit 3 Edge Business Centre, Humber Road, London, NW2 6EW.
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.
Revenue recognition
Turnover represents ground rents receivable.
Tangible assets
All fixed assets are initially recorded at cost. Ground rent property investments are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. This accounting policy is a departure from the general requirement of the Companies Act for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
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. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Interest payable and similar expenses
2024
2023
£
£
Other interest payable and similar charges
42,522
35,866
--------
--------
5. Tangible assets
Land and buildings
£
Cost
At 1 October 2023 and 30 September 2024
875,000
---------
Depreciation
At 1 October 2023 and 30 September 2024
---------
Carrying amount
At 30 September 2024
875,000
---------
At 30 September 2023
875,000
---------
6. Debtors
2024
2023
£
£
Trade debtors
47,340
24,396
Other debtors
5,001
5,001
--------
--------
52,341
29,397
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
333,069
278,011
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
526,401
546,767
---------
---------
9. Related party transactions
The company was under the control of Greater London Corporation Limited throughout the current and previous year. Greater London Corporation Limited is the only shareholder. The shares in Greater London Corporation Limited are owned by The Blair Trust Fund, a UK charitable company. The Blair Trust Fund, the ultimate controlling party of the company, lent Clarence Leeds Limited £200,000 in a previous period on an interest free basis and this was also the balance at the year end. Clarence Leeds Limited lent Greater London Corporation Limited £5,000 during the year on an interest free basis. This was also the balance at the year end. Charlton Nominees Limited, a UK company under the control Greater London Corporation Limited lent £50,000 to Clarence Leeds Limited during the year on an interest free basis. This was also the balance at the year end. During the year Clarence Leeds Limited donated £5,500 to The Blair Trust Fund.