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Company Registration No. 11099550 (England and Wales)
Clearview Developments (The Old Bank) Limited Filleted unaudited accounts for the year ended 31 March 2024
Clearview Developments (The Old Bank) Limited Filleted unaudited accounts Contents
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Clearview Developments (The Old Bank) Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Inventories
1,642,221 
1,642,221 
Debtors
334,699 
349,743 
Cash at bank and in hand
67 
4,258 
1,976,987 
1,996,222 
Creditors: amounts falling due within one year
(130,265)
(215,872)
Net current assets
1,846,722 
1,780,350 
Total assets less current liabilities
1,846,722 
1,780,350 
Creditors: amounts falling due after more than one year
(1,911,980)
(1,880,711)
Net liabilities
(65,258)
(100,361)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(65,358)
(100,461)
Shareholders' funds
(65,258)
(100,361)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 May 2025 and were signed on its behalf by
Jason Tema Director Company Registration No. 11099550
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Clearview Developments (The Old Bank) Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Clearview Developments (The Old Bank) Limited is a private company, limited by shares, registered in England and Wales, registration number 11099550. The registered office is 4th Floor, 95 Gresham Street, London, EC2V 7AB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The director has assessed the company's ability to continue as a going concern which has included a review of the company's forecasts and projections and based on this review, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, which covers a period of not less than twelve months from the date the financial statements are approved, and accordingly, the going concern basis continues to be appropriate for the preparation of the financial statements.
Inventories
Inventories represent properties acquired for development and properties currently being developed. All costs associated with the development work are included and a provision is made if the carrying value of the inventories are deemed to be greater than fair value. Such provision is expensed through statement of income and retained earnings.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in statement of income and retained earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. Basic financial instruments are recognised at amortised cost, with changes recognised in statement of income and retained earnings.
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Clearview Developments (The Old Bank) Limited Notes to the Accounts for the year ended 31 March 2024
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
334,699 
349,743 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
124,218 
206,572 
Loans from directors
4,547 
6,600 
Accruals
1,500 
2,700 
130,265 
215,872 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
1,911,980 
1,880,711 
Aggregate of amounts that fall due for payment after five years
1,911,980 
1,880,711 
Bank loans of £1,911,980 (2023: £1,880,711) are secured by a fixed charge over the company's development property.
7
Transactions with related parties
Included in creditors due within one year is a balance of £4,547 (2023: £6,600) owed to the director. This loan is interest-free and has no fixed repayment term. The director has given personal guarantees in respect of bank loans amounting to £1,214,430 (2023: £1,192,857).
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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