Clivedale Services Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—4

1. General Information

Clivedale Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11543510 . The registered office is 73 Brook Street, London, England, W1K 4HX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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 freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

2.3. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.4. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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Clivedale Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.4. Financial Instruments - continued

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.5. Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.6. Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.7. Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.8. Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

3. Average Number of Employees

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

	2024	2023
Total	11	12

	11	12

4. Debtors

	2024	2023
	£	£
Due within one year
Amounts owed by group undertakings	1,263,235	1,062,996
Other debtors	302,718	235,722

	1,565,953	1,298,718

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Clivedale Services Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	143,849	120,664
Amounts owed to group undertakings	923,856	991,571
Other creditors	155,086	101,195
Taxation and social security	58,638	205,967

	1,281,429	1,419,397

6. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

7. Service charge income and expenditure

The company incurred and recharged service charge costs of 2024: £2,641,061 ( 2023: £2,672,064 ) in the financial year.

8. Audit Information

The auditor's report on the accounts of Clivedale Services Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Sunil Phakkey (Senior Statutory Auditor) for and on behalf of Pritchard Fellows & Co, Statutory Auditor , Statutory Auditor.

Pritchard Fellows & Co, Statutory Auditor

Chartered Certified Accountants & Reg. Auditors

Avery House

8 Avery Hill Road

London

SE9 2BD

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		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	1,565,953		1,298,718
Cash at bank and in hand		522,115		672,071

		2,088,068		1,970,789
Creditors: Amounts Falling Due Within One Year	5	(1,281,429 )		(1,419,397 )

NET CURRENT ASSETS (LIABILITIES)			806,639		551,392

TOTAL ASSETS LESS CURRENT LIABILITIES			806,639		551,392

NET ASSETS			806,639		551,392

CAPITAL AND RESERVES
Called up share capital			1,000		1,000
Profit and Loss Account			805,639		550,392

SHAREHOLDERS' FUNDS			806,639		551,392