Clifton Down Investments Limited

(Registration number: 12344549)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	827	1,240
Investment property	5	4,013,145	4,013,145
		4,013,972	4,014,385
Current assets
Debtors	6	435,779	630,945
Cash at bank and in hand		319,629	209,072
		755,408	840,017
Creditors: Amounts falling due within one year	7	(3,667,745)	(3,975,018)
Net current liabilities		(2,912,337)	(3,135,001)
Total assets less current liabilities		1,101,635	879,384
Provisions for liabilities		(1,262)	-
Net assets		1,100,373	879,384
Capital and reserves
Called up share capital	8	1,000	1,000
Profit and loss account		1,099,373	878,384
Total equity		1,100,373	879,384

Clifton Down Investments Limited

(Registration number: 12344549)
Balance Sheet as at 31 December 2024

For the financial 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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised for issue by the director on 29 September 2025
 

.........................................

S M F Kenny
Director

Clifton Down Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Avonbank
Clifton Down
Bristol
BS8 3HT
England

2	Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Revenue recognition

All income is recognised once the company has entitlement to the income, it is probable that the Income will be received and the amount of the income receivable can be measured reliably. Income comprises rental and service charge income from tenants receivable in the year.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Clifton Down Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

Investment property

Investment property is carried at fair value to be 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. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year was 0 (2023 - 0).

Clifton Down Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible fixed assets

	Office equipment £
Cost
At 1 January 2024	1,395
At 31 December 2024	1,395
Depreciation
At 1 January 2024	155
Charge for the year	413
At 31 December 2024	568
Carrying amount
At 31 December 2024	827
At 31 December 2023	1,240

Clifton Down Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Investment properties

	2024 £
At 1 January 2023	4,013,145
At 31 December 2023	4,013,145

The property is currently being rented out under a lease agreement over 22 years.

Investment properties are carried at fair value, determined by the directors with reference to the condition and location of the property, as well as current observable market prices. The directors have determined that the fair value at the year end is equivalent to the cost of the property.

There has been no valuation of investment property by an independent valuer.

6	Debtors: amounts falling due within one year

	2024 £	2023 £
Trade debtors	111,716	-
Prepayments and accrued income	324,063	367,101
Other debtors	-	263,844
	435,779	630,945

Clifton Down Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

	Note	2024 £	2023 £
Amounts falling due within one year
Loans	9	1,734,202	2,271,779
Trade creditors		2,970	-
Taxation and social security		11,281	-
Other creditors		80,071	2,158
Directors' loan accounts	9	1,765,000	1,635,625
Corporation tax		74,221	65,456
		3,667,745	3,975,018

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
A Ordinary shares of £1 each	250	250	250	250
B Ordinary shares of £1 each	250	250	250	250
D Ordinary shares of £1 each	250	250	250	250
C Ordinary shares of £1 each	250	250	250	250
	1,000	1,000	1,000	1,000

9	Related party transactions

Loans to related parties

2024	Other related parties £	Total £
Advanced	1,000	1,000
At end of period	1,000	1,000

Clifton Down Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Loans from related parties

	Entities with joint control or significant influence		Key management
	2024 £	2023 £	2024 £	2023 £
At start of period	2,215,281	2,267,534	1,691,327	1,907,537
Advanced	121,953	1,702	511,008	-
Repaid	(603,033)	(53,955)	(437,335)	(216,210)
At end of period	1,734,201	2,215,281	1,765,000	1,691,327

Terms of loans from related parties
The company has been provided a loan from Clifton Down Corporate Finance Limited totalling £1,734,201 (2023: £2,215,281), towards the purchase of an investment property. The loan is unsecured, interest free and there is no fixed term for the repayment. Repayments are to be made when distributable profits become available or the property is sold.

The loan totalling £1,765,000 (2023: £1,691,327) has been provided by the directors of the company.
The loan is interest free, unsecured and has no fixed repayment date. Repayments are made when distributable profits become available or the property is sold.
 

Summary of transactions with entities with joint control or significant interest

SLX Limited
 During the year, the company received income from SLX totalling £289,550 (2023: £287,861), in respect of rent and service charges.