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COMPANY REGISTRATION NUMBER: 02052203
CLOBB PROPERTIES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2024
CLOBB PROPERTIES LIMITED
BALANCE SHEET
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
4
5,586,863
5,586,304
Investments
5
4,346,268
4,294,443
-----------
-----------
9,933,131
9,880,747
Current assets
Debtors
6
299,048
19,481
Cash at bank and in hand
925,262
1,137,115
-----------
-----------
1,224,310
1,156,596
Creditors: amounts falling due within one year
7
( 194,652)
( 169,586)
-----------
-----------
Net current assets
1,029,658
987,010
------------
------------
Total assets less current liabilities
10,962,789
10,867,757
Provisions for liabilities
Taxation, including deferred taxation
( 880,927)
( 856,096)
------------
------------
Net assets
10,081,862
10,011,661
------------
------------
Capital and reserves
Called up share capital
8
80
80
Profit and loss account
10,081,782
10,011,581
------------
------------
Total shareholders' funds
10,081,862
10,011,661
------------
------------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 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 .
These financial statements were approved by the board of directors and authorised for issue on 24 July 2025 , and are signed on behalf of the board by:
R A Ehrman
Director
Company registration number: 02052203
CLOBB PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 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 2 Crossways Business Centre, Bicester Road, Kingswood, Aylesbury, Bucks, HP18 0RA.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
The turnover shown in the profit and loss account represents rent receivable for the period.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments in subsidiaries
Investments in subsidiaries are accounted for at cost less any accumulated impairment losses.
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
Financial instruments
Basic financial assets, which include trade and other receivables and cash and bank balances, 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. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables, 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables 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 payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Purchases and sales
Purchases and sales of properties are accounted for on exchange of contract, unless the contract is conditional and the condition has not been satisfied at the balance sheet date. In such circumstances the purchase or sale is accounted for when the condition is satisfied.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Distributions to equity holders
Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.
4. Tangible assets
Investment property
Equipment
Total
£
£
£
Cost or valuation
At 1 January 2024
5,585,000
2,352
5,587,352
Additions
910
910
-----------
------
-----------
At 31 December 2024
5,585,000
3,262
5,588,262
-----------
------
-----------
Depreciation
At 1 January 2024
1,048
1,048
Charge for the year
351
351
-----------
------
-----------
At 31 December 2024
1,399
1,399
-----------
------
-----------
Carrying amount
At 31 December 2024
5,585,000
1,863
5,586,863
-----------
------
-----------
At 31 December 2023
5,585,000
1,304
5,586,304
-----------
------
-----------
The property was valued at 31st December 2024 by the Board of directors and the carrying value of the property is considered to be a reasonable reflection of the open market value at the balance sheet date. No depreciation has been provided in respect of this property.
5. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost or valuation
At 1 January 2024
1,250,001
3,044,442
4,294,443
Additions
151,294
151,294
Disposals
( 184,104)
( 184,104)
Other movements
84,635
84,635
-----------
-----------
-----------
At 31 December 2024
1,250,001
3,096,267
4,346,268
-----------
-----------
-----------
Impairment
At 1 January 2024 and 31 December 2024
-----------
-----------
-----------
Carrying amount
At 31 December 2024
1,250,001
3,096,267
4,346,268
-----------
-----------
-----------
At 31 December 2023
1,250,001
3,044,442
4,294,443
-----------
-----------
-----------
6. Debtors
2024
2023
£
£
Other debtors
299,048
19,481
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,424
3,343
Amounts owed to group undertakings and undertakings in which the company has a participating interest
109,517
63,106
Corporation tax
59,464
40,495
Social security and other taxes
19,144
56,313
Other creditors
5,103
6,329
--------
--------
194,652
169,586
--------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
80
80
80
80
----
----
----
----
9. Directors' advances, credits and guarantees
During the period £545,489 was advanced to the directors of the company. The amount was repayable on demand. During the year £267,982 was repaid by the directors of the company. The amount owed to the company by the directors at the year end was £275,961 (2023: £1,546 owed from the company). Interest is charged on the loan at HMRC's official interest rate.
10. Employee numbers
The average number of employees, including directors during the year amounted to 2 (2023: 2).