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Company No: 04656063 (England and Wales)

CLOVERTON PROPERTY LTD

Unaudited Financial Statements
For the financial year ended 28 February 2025
Pages for filing with the registrar

CLOVERTON PROPERTY LTD

Unaudited Financial Statements

For the financial year ended 28 February 2025

Contents

CLOVERTON PROPERTY LTD

COMPANY INFORMATION

For the financial year ended 28 February 2025
CLOVERTON PROPERTY LTD

COMPANY INFORMATION (continued)

For the financial year ended 28 February 2025
DIRECTORS G Somogyi
T D Somogyi
REGISTERED OFFICE 10 Broadfield Way
Buckhurst Hill
IG9 5AG
United Kingdom
COMPANY NUMBER 04656063 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
CLOVERTON PROPERTY LTD

BALANCE SHEET

As at 28 February 2025
CLOVERTON PROPERTY LTD

BALANCE SHEET (continued)

As at 28 February 2025
Note 2025 2024
£ £
Fixed assets
Investment property 3 10,879,000 10,879,000
10,879,000 10,879,000
Current assets
Debtors 4 3,220,922 3,188,762
Cash at bank and in hand 78,487 26,180
3,299,409 3,214,942
Creditors: amounts falling due within one year 5 ( 6,396,145) ( 6,760,191)
Net current liabilities (3,096,736) (3,545,249)
Total assets less current liabilities 7,782,264 7,333,751
Provision for liabilities ( 344,520) ( 344,520)
Net assets 7,437,744 6,989,231
Capital and reserves
Called-up share capital 1 1
Fair value reserve 1,415,853 1,415,853
Profit and loss account 6,021,890 5,573,377
Total shareholders' funds 7,437,744 6,989,231

For the financial year ending 28 February 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Cloverton Property Ltd (registered number: 04656063) were approved and authorised for issue by the Board of Directors on 14 August 2025. They were signed on its behalf by:

G Somogyi
Director
CLOVERTON PROPERTY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
CLOVERTON PROPERTY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cloverton Property Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 10 Broadfield Way, Buckhurst Hill, IG9 5AG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents total rental income relating to the year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 March 2024 10,879,000
As at 28 February 2025 10,879,000

Investment property was valued on fair value basis on 28 February 2025 by the directors.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2025 2024
£ £
Historic cost 9,118,626 9,118,626

4. Debtors

2025 2024
£ £
Trade debtors 9,953 15,365
Amounts owed by related parties 3,206,068 3,169,899
Other debtors 4,901 3,498
3,220,922 3,188,762

5. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 7,210 0
Amounts owed to related parties 1,938,067 2,285,701
Taxation and social security 134,006 169,296
Other creditors 4,316,862 4,305,194
6,396,145 6,760,191