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Registered number: 11170048
Ciel Laystall Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11170048
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 22,542,359 28,986,727
Investments 5 - 8,367,165
22,542,359 37,353,892
CURRENT ASSETS
Debtors 6 554,034 227,299
Cash at bank and in hand 14,116 92
568,150 227,391
Creditors: Amounts Falling Due Within One Year 7 (43,281,805 ) (41,897,677 )
NET CURRENT ASSETS (LIABILITIES) (42,713,655 ) (41,670,286 )
TOTAL ASSETS LESS CURRENT LIABILITIES (20,171,296 ) (4,316,394 )
Creditors: Amounts Falling Due After More Than One Year 8 (16,151,045 ) (16,336,517 )
NET LIABILITIES (36,322,341 ) (20,652,911 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (36,322,441 ) (20,653,011 )
SHAREHOLDERS' FUNDS (36,322,341) (20,652,911)
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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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paulus Steeghs
Director
18th September 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Ciel Laystall Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11170048 . The registered office is 17 Cavendish Square, London, W1G 0PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Revalued
Plant & Machinery 20% on cost
Fixtures & Fittings 20% on cost
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Investments
Investments are held at cost less accumulated impairment losses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost or Valuation
As at 1 January 2024 27,000,000 277,163 1,892,662 29,169,825
Additions 919,110 - - 919,110
Disposals - - (14,537 ) (14,537 )
Revaluation (6,919,110 ) - - (6,919,110 )
As at 31 December 2024 21,000,000 277,163 1,878,125 23,155,288
...CONTINUED
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Depreciation
As at 1 January 2024 - 23,388 159,710 183,098
Provided during the period - 55,433 378,532 433,965
Disposals - - (4,134 ) (4,134 )
As at 31 December 2024 - 78,821 534,108 612,929
Net Book Value
As at 31 December 2024 21,000,000 198,342 1,344,017 22,542,359
As at 1 January 2024 27,000,000 253,775 1,732,952 28,986,727
5. Investments
Unlisted
£
Cost
As at 1 January 2024 8,367,165
As at 31 December 2024 8,367,165
Provision
As at 1 January 2024 -
Impairment losses 8,367,165
As at 31 December 2024 8,367,165
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 8,367,165
6. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors - 14,206
Other debtors 554,034 213,093
554,034 227,299
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 485,791 654,632
Other loans 8,426 -
Amounts owed to participating interests 42,787,089 40,924,032
Other creditors 499 28,758
Taxation and social security - 290,255
43,281,805 41,897,677
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Other loans 16,151,045 16,336,517
9. Secured Creditors
A loan in a group company is secured by a fixed and floating charge over the company's assets.
10. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 100 100
11. Ultimate Controlling Party
The company's ultimate controlling party is Jonathan Steiner by virtue of his ownership of 99% of the issued share capital in the company.
12. Going Concern
As at the balance sheet date the company has net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to support the company for the foreseeable future. 
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