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Registered Number: 07386506
England and Wales

 

 

 

CLEVER STUDENT LETS LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 August 2024.
Directors
The directors who served the company throughout the year were as follows:
Mr D Richardson
Mr R Hooper
Mr D Fellows

This report was approved by the board and signed on its behalf by:


----------------------------------
Mr D Richardson
Director

Date approved: 22 May 2025
1
 
 
Notes
 
2024
£
  2023
£
Turnover 1,059,596    1,093,316 
Cost of sales (62,724)   (96,046)
Gross profit 996,872    997,270 
Administrative expenses (1,071,715)   (1,057,999)
Other operating income 696   
Operating loss (74,147)   (60,729)
Other interest receivable and similar income 7,549    1,053 
Interest payable and similar charges (10,067)   (11,111)
Profit/(Loss) on ordinary activities before taxation (76,665)   (70,787)
Tax on profit on ordinary activities   (19,947)
Profit/(Loss) for the financial year (76,665)   (90,734)
 
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 44,816    56,553 
Tangible fixed assets 4 11,367    16,880 
Investments 5 1   
56,184    73,433 
Current assets      
Debtors 6 89,369    150,084 
Cash at bank and in hand 5,806    16,464 
95,175    166,548 
Creditors: amount falling due within one year 7 (216,821)   (178,778)
Net current assets (121,646)   (12,230)
 
Total assets less current liabilities (65,462)   61,203 
Creditors: amount falling due after more than one year 8 (54,167)   (104,167)
Provisions for liabilities 9 (23,110)   (23,110)
Net assets (142,739)   (66,074)
 

Capital and reserves
     
Called up share capital 104    104 
Capital Redemption Reserve 10 146    146 
Profit and loss account (142,989)   (66,324)
Shareholders' funds (142,739)   (66,074)
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 May 2025 and were signed on its behalf by:


-------------------------------
Mr D Richardson
Director
3
General Information
CLEVER STUDENT LETS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07386506, registration address 2 Queen Anne Terrace, North Hill, Plymouth, Devon, PL4 8EG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Short-term Leasehold Property 10% Straight Line
Plant and Machinery 25% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 33% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 45 (2023 : 45).
3.

Intangible fixed assets

Cost Goodwill   Other   Total
  £   £   £
At 01 September 2023 103,200    31,809    135,009 
Additions    
Disposals    
At 31 August 2024 103,200    31,809    135,009 
Amortisation
At 01 September 2023 48,064    30,392    78,456 
Charge for year 10,320    1,417    11,737 
On disposals    
At 31 August 2024 58,384    31,809    90,193 
Net book values
At 31 August 2024 44,816      44,816 
At 31 August 2023 55,136    1,417    56,553 


4.

Tangible fixed assets

Cost or valuation Short-term Leasehold Property   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 September 2023 14,370    815    62,640    6,898    19,564    104,287 
Additions       185    1,481    1,666 
Disposals          
At 31 August 2024 14,370    815    62,640    7,083    21,045    105,953 
Depreciation
At 01 September 2023 10,874    599    58,044    2,684    15,208    87,409 
Charge for year 437    121    1,150    660    4,809    7,177 
On disposals          
At 31 August 2024 11,311    720    59,194    3,344    20,017    94,586 
Net book values
Closing balance as at 31 August 2024 3,059    95    3,446    3,739    1,028    11,367 
Opening balance as at 01 September 2023 3,496    216    4,596    4,216    4,356    16,880 


5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 September 2023  
Additions 1    1 
Transfer to/from tangible fixed assets  
Disposals  
At 31 August 2024 1    1 
The company owns 100% of the issued share capital of CSL City Projects Limited.

The aggregate capital and reserves for CSL City Projects Limited for the year totals £26,525 (2023: £36,397). The profit for the year totals: £-18,409 (2023: £44,933).


The directors have not exercised the option given under section 398 of the Companies Act 2006 for the company to prepare consolidated accounts and therefore the accounts show information about the company as an individual entity.



6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 34,000    26,076 
Other Debtors 15,369    84,008 
49,369    110,084 

6.

Debtors: amounts falling due after one year

2024
£
  2023
£
Other Debtors 40,000    40,000 
40,000    40,000 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 41,805    26,068 
Bank Loans & Overdrafts 50,000    50,000 
Other Creditors 125,016    102,710 
216,821    178,778 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 54,167    104,167 
54,167    104,167 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 23,110    23,110 
23,110    23,110 

10.

Capital Redemption Reserve

2024
£
  2023
£
Capital Redemption Reserve b/fwd 146    146 
146    146 

4