The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Claregrange Limited is a private company limited by shares incorporated in England and Wales. The registered office is Aslockton Hall, Aslockton, Nottinghamshire.

These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland ' and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Three of the directors have given their continued support to the company and will only seek repayment of their directors' loans when the company has sufficient funds to do so.

Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

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.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. No depreciation is provided in respect of such properties. Although the Companies Act 2006 would normally require the systematic annual depreciation of fixed assets, it is believed that this policy of not providing depreciation is necessary in order for the accounts to give a true and fair view.

Deferred taxation is provided on revaluation surpluses at the rate expected to apply when the properties are sold.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Rents Receivable

Rents represent the total sums due by the tenants of the company during the year.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average monthly number of persons (including directors) employed by the company during the year was:

Investment property comprises a portfolio of residential properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 December 2024 by a director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The historical cost of the investment property at 31 December 2024 was £5,710,685 (31 December 2023 - £5,710,685).

Included in the above is a half share in a freehold investment property which is jointly owned with a director of the company, included at a valuation of £815,789 (31 December 2023 - £792,029).

The note below analyses the investment property between freehold and short leasehold. The company leases the land from a director of the company, upon which the property is built in respect of the short leasehold investment property.

The carrying value of land and buildings comprises:

The company has one class of ordinary shares which carry no right to fixed income. The shares carry voting rights and have no restriction on the repayment of capital.

Included within the profit and loss reserves are non-distributable reserves that represent fair value gains on the investment properties held by the company of £ 5,311,238 (2023 - £ 5,045,313)

During the year the company entered into the following transactions with related parties:

There were sums due by the company to a director at 31 December 2024 of £427,222 (31 December 2023 - £143,310).

The directors loan was unsecured, repayable on demand and on an interest free basis.

There were sums due by the company to two further directors at 31 December 2024 of £75,273 (31 December 2023 - £2,434).

The company repaid to the director £94,778 (31 December 2023 - £52,811) and received advances of £378,690 (31 December 2023 - £247,224) during the period ended 31 December 2024.

The company also paid rent to the director for property occupied by the company for the purposes of its trade. The rent payable amounted to £20,000 (2023 - £20,000).

A director also has an interest in freehold investment property owned jointly with the company (note 5).

A director also has other interests in investment property held by the company (see note 5 for details).

There were sums due to the company at 31 December 2024 of £12,871 (31 December 2023 - £10,706) from a company which is a related party but not part of the same group. This relates to a loan which is unsecured, repayable on demand and on an interest free basis.

There were sums due to the company at 31 December 2024 of £1,580,900 (31 December 2023 - £988,830) from a company which is a related party but not part of the same group. This relates to a loan which is unsecured, repayable on demand and on an interest free basis.

There were sums due by the company to a subsidiary at 31 December 2024 of £17,124(31 December 2023 - £19,289). This relates to a loan which is unsecured, repayable on demand and on an interest free basis.

No guarantees have been given or received.