2023-10-242024-10-312024-10-31false15232883CLEMATIS HOLDINGS UK 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CLEMATIS HOLDINGS UK LIMITED

Registered Number
15232883
(England and Wales)

Unaudited Financial Statements for the Period ended
31 October 2024

CLEMATIS HOLDINGS UK LIMITED
Company Information
for the period from 24 October 2023 to 31 October 2024

Directors

ALAGHBAND, Niloofar
ALAGHBAND, Yasmin

Registered Address

C/O 3dom.Uk Accountants Ltd
Second Floor, 61 Hamilton Square
Birkenhead
CH41 5AT

Registered Number

15232883 (England and Wales)
CLEMATIS HOLDINGS UK LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

£

£

ASSETS
Fixed assets
Investment property410,350,000
10,350,000
Current assets
Cash at bank and in hand70,246
70,246
70,246
10,420,246
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Called up share capital4
Profit and loss account(78,875)
(78,871)
Liabilities
Creditors amounts falling due within one year5149,117
Creditors amounts falling due after one year610,350,000
10,420,246
The financial statements were approved and authorised for issue by the Board of Directors on 24 July 2025, and are signed on its behalf by:
ALAGHBAND, Yasmin
Director
Registered Company No. 15232883
CLEMATIS HOLDINGS UK LIMITED
Notes to the Financial Statements
for the period ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below. Valuation of investment property There are a number of estimates involved in assessing the fair value of the company's investment property. The directors have determined the fair value on similar properties at the same location. The carrying amount is £10,350,000.
Turnover policy
Turnover comprises the fair value of the consideration received or receivable from the rental of investment properties 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.
Borrowing costs
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors 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.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees
The company had no employees other than the directors during the period.

2024
Average number of employees during the year0
3.Tangible fixed 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.
4.Investment property
The company holds one investment property, which is measured at fair value in accordance with FRS 102 Section 16. The property was acquired during the year ended 31 October 2024. The fair value at initial recognition and at 31 October 2024 was £10,350,000. The valuation was determined by the directors based on available market evidence, including prices of comparable properties in the same location, adjusted for differences in condition and other relevant factors. The company applies the fair value model. Accordingly, no depreciation is charged. Changes in fair value are recognised in profit or loss in the period in which they arise. The valuation is reviewed annually.

£
Additions10,350,000
At 31 October 2410,350,000
5.Creditors: amounts due within one year

2024

£
Other creditors75,000
Accrued liabilities and deferred income74,117
Total149,117
Deferred income of £69,333 has been recognised, representing rent received in advance relating to periods after the year-end. Also included within creditors is a balance of £75,000 relating to funding received during the year. At the reporting date, the identity of the counterparty and the precise nature of the arrangement had not been confirmed. The directors acknowledge the liability and confirm that the amount is repayable. Further details will be recorded in the financial statements once the position has been clarified
6.Creditors: amounts due after one year

2024

£
Bank borrowings and overdrafts5,600,000
Other creditors4,750,000
Total10,350,000
7.Share capital
The company issued 4 ordinary shares of £1 each. These shares were allotted but not paid up and are treated as unpaid share capital.
8.Related party transactions
For the purposes of these financial statements, a related party may be a person or entity with control, joint control, or significant influence over the company. The directors have considered the definition of a related party under FRS 102 to ensure that all relevant relationships, transactions and balances are disclosed appropriately. During the period, £4,750,000 of the purchase price for the investment property was not settled in cash and has been recognised as a liability to Clematis Holdings Limited, the vendor. This is treated as an unsecured, non-interest-bearing loan repayable on demand, though not expected to be called within 12 months.