REGISTERED NUMBER: 07068620 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Clerks Well Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B N Gorst

V J Gorst

A Canty

J Buss

REGISTERED OFFICE:

290 High Street

Aldeburgh

Suffolk

IP15 5DQ

REGISTERED NUMBER:

07068620 (England and Wales)

ACCOUNTANTS:

Hans Accounting Ltd

Chartered Certified Accountants

Devonshire House

582 Honeypot Lane

Stanmore

Middlesex

HA7 1JS

FIXED ASSETS

Investments

4

9,028,866

9,337,831

Investment property

5

30,645,409

22,688,750

39,674,275

32,026,581

CURRENT ASSETS

Debtors

6

386,662

678,941

Cash at bank

1,767,989

173,360

2,154,651

852,301

CREDITORS

Amounts falling due within one year

7

22,667,320

18,485,335

NET CURRENT LIABILITIES

(20,512,669

)

(17,633,034

)

TOTAL ASSETS LESS CURRENT LIABILITIES

19,161,606

14,393,547

PROVISIONS FOR LIABILITIES

499,555

-

NET ASSETS

18,662,051

14,393,547

CAPITAL AND RESERVES

Called up share capital

300,005

300,005

Share premium

3,064,409

3,064,409

Fair value reserve

8

2,129,683

(1,522,759

)

Retained earnings

13,167,954

12,551,892

SHAREHOLDERS' FUNDS

18,662,051

14,393,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

B N Gorst - Director

1.	STATUTORY INFORMATION

Clerks Well Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The

Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include investment property at fair value.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised through the Fair value reserve.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	FIXED ASSET INVESTMENTS

Interest

in joint

Other

venture

investments

Totals

£

£

£

COST

At 1 January 2024

308,966

9,028,865

9,337,831

Repayment

(95,000

)

-

(95,000

)

Impairments

(213,965

)

-

(213,965

)

At 31 December 2024

1

9,028,865

9,028,866

NET BOOK VALUE

At 31 December 2024

1

9,028,865

9,028,866

At 31 December 2023

308,966

9,028,865

9,337,831

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

22,688,750

Additions

3,447,471

Revaluations

4,509,188

At 31 December 2024

30,645,409

NET BOOK VALUE

At 31 December 2024

30,645,409

At 31 December 2023

22,688,750

The figures stated for the investment properties are all based on valuations provided by a director of the company, who is a retired member of the Royal Institution of Chartered Surveyors.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2018

9,329,722

Valuation in 2019

(95,081

)

Valuation in 2020

(4,857,912

)

Valuation in 2021

4,271,478

Valuation in 2022

(5,952,459

)

Valuation in 2023

(4,575,698

)

Valuation in 2024

4,509,188

Cost

28,016,171

30,645,409

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

33,750

22,730

Other debtors

352,912

656,211

386,662

678,941

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

504,813

-

Other creditors

22,162,507

18,485,335

22,667,320

18,485,335

8.

RESERVES

Fair

value

reserve

£

At 1 January 2024

(1,522,759

)

Valuation net of deferred tax

3,652,442

At 31 December 2024

2,129,683

9.	RELATED PARTY DISCLOSURES

Included under other creditors is a balance of £7,170,000 (2023:£6,420,000) owed to Mirrorstoke Limited, a company related via common directors. The loan is interest free and repayable on demand.

Included under other debtors is a balance of £100,228 (2023:£nil) owed by Remavon Limited, a company related via common directors. The loan is interest free and repayable on demand.