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Registered number: 01998568 T.G. Claymore (UK) Limited Financial statements Information for filing with the registrar For the year ended 31 December 2024
T.G. Claymore (UK) Limited Company Information
Directors | N J B Fielding
| Mrs S H F W Fielding
Registered number | 01998568
Registered office | 24 High Street
| Charing
| Ashford
| Kent
| TN27 0HX
Independent auditors | Cassidys Limited
| Chartered Accountants & Statutory Auditor
| South Stour Road
| Mersham
| Ashford
| Kent
| TN25 7HS
Bankers | HSBC Bank Plc
| 75 High Street
| Sutton
| Surrey
| SM1 1DU
T.G. Claymore (UK) Limited Contents
| Page
Balance sheet | 1
Statement of changes in equity | 2
Notes to the financial statements | 3 - 9
T.G. Claymore (UK) Limited Registered number: 01998568 Balance sheet As at 31 December 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible Fixed Assets | 5 |  | 32,448 |  | 33,073
Fixed Asset Investments | 6 |  | 2,947,453 |  | 3,558,504
|  |  | 2,979,901 |  | 3,591,577
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 268,040 |  | 166,324 |
Cash at bank and in hand |  | 80,036 |  | 165,476 |
|  | 348,076 |  | 331,800 |
Creditors: amounts falling due within one year | 8 | (92,255) |  | (245,611) |
Net current assets |  |  | 255,821 |  | 86,189
Total assets less current liabilities |  |  | 3,235,722 |  | 3,677,766
Provisions for liabilities |  |  |  |  |
Deferred tax | 9 | (294,394) |  | (366,675) |
|  |  | (294,394) |  | (366,675)
Net assets |  |  | 2,941,328 |  | 3,311,091
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 2,100,000 |  | 2,100,000
Revaluation reserve |  |  | 858,848 |  | 1,104,945
Profit and loss account |  |  | (17,520) |  | 106,146
|  |  | 2,941,328 |  | 3,311,091
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 September 2025.
N J B Fielding
Director
The notes on pages 3 to 9 form part of these financial statements. Page 1
T.G. Claymore (UK) Limited Statement of changes in equity For the year ended 31 December 2024
| Called up share capital | Revaluation reserve | Profit and loss account | Total equity
| £ | £ | £ | £
At 1 January 2023 | 2,100,000 | 1,645,114 | (24,492) | 3,720,622
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (24,531) | (24,531)
Surplus on revaluation of freehold property | - | (540,169) | 540,169 | -
Total comprehensive income for the year | - | (540,169) | 515,638 | (24,531)
Contributions by and distributions to owners |  |  |  |
Dividends: Equity capital | - | - | (385,000) | (385,000)
At 1 January 2024 | 2,100,000 | 1,104,945 | 106,146 | 3,311,091
Comprehensive income for the year |  |  |  |
Loss for the year | - | - | (369,763) | (369,763)
Revaluation movement of investment property | - | (246,097) | 246,097 | -
Total comprehensive income for the year | - | (246,097) | (123,666) | (369,763)
At 31 December 2024 | 2,100,000 | 858,848 | (17,520) | 2,941,328
| The notes on pages 3 to 9 form part of these financial statements.
| Called up share capital This represents the nominal value of shares that have been issued by the company. Revaluation reserve To assist with the identification of profits available for distribution this reserve represents changes in the fair value of the company's investment properties to the extent that they are not considered to be distributable to the company's shareholders, less any related provision for deferred tax. Profit and loss account This reserve comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholders.
Page 2
T.G. Claymore (UK) Limited Notes to the financial statements For the year ended 31 December 2024
1. | General information
T G Claymore (UK) Limited is a private company limited by shares which was incorporated in England and Wales with company number 01998568. Please refer to the director's report for the principal activity of the company. The company's registered office is 24 High Street, Charing, Ashford, Kent, England, TN27 0HX. The financial statements have been presented in Pound Sterling, and rounded to the nearest pound. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Going concern
The accounts have been prepared on the going concern basis. In considering the appropriateness of this the directors have taken into account anticipated future activity and financial projections available.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 3
T.G. Claymore (UK) Limited Notes to the financial statements For the year ended 31 December 2024 2.Accounting policies (continued)
| 2.4 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Motor vehicles | - | 25% | Straight line
|  |  |  | Fixtures and fittings | - | 10% | Straight line
|  |  |  | Other fixed assets | - | 25% | Straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.6 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.7 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.8 | Investment property
Investment property is carried at fair value determined annually by the director. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income. Page 4
T.G. Claymore (UK) Limited Notes to the financial statements For the year ended 31 December 2024 2.Accounting policies (continued)
| 2.9 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is Pounds Sterling. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.10 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.11 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 5
T.G. Claymore (UK) Limited Notes to the financial statements For the year ended 31 December 2024 2.Accounting policies (continued)
| 2.12 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.13 | Valuation of investments
Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
| 2.14 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires the Directors to make judgments, estimates and assumptions that can affect the amounts reported for assets and liabilities, and the results for the year. The nature of estimation is such though that actual outcomes could differ significantly from those estimates. The following judgment has had the most significant impact on amounts recognised in the financial statements: Investment properties The company holds investment property with fair value of £1,560,000 at the year end (see note 7). In order to determine the fair value of investment property the directors have used a valuation technique based on comparable market data. The determined fair value of the investment property is most sensitive to fluctuations in the property market. Page 6
T.G. Claymore (UK) Limited Notes to the financial statements For the year ended 31 December 2024
4. | Employees
| The average monthly number of employees, including directors, during the year was 7 (2023 - 6).
5. | Tangible fixed assets
|  | Motor vehicles | Fixtures and fittings | Other fixed assets | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2024 | 35,520 | 24,517 | 118,149 | 178,186
| Disposals | (33,020) | - | - | (33,020)
| At 31 December 2024 | 2,500 | 24,517 | 118,149 | 145,166
| Depreciation |  |  |  |
| At 1 January 2024 | 34,269 | 24,516 | 86,328 | 145,113
| Charge for the year on owned assets | 625 | - | - | 625
| Disposals | (33,020) | - | - | (33,020)
| At 31 December 2024 | 1,874 | 24,516 | 86,328 | 112,718
| Net book value |  |  |  |
| At 31 December 2024 | 626 | 1 | 31,821 | 32,448
| At 31 December 2023 | 1,251 | 1 | 31,821 | 33,073
6. | Fixed asset investments
|  | Listed investments | Artwork investments | Freehold investment properties | Corporate loans | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 January 2024 | 233,776 | - | 1,848,499 | 1,476,229 | 3,558,504
| Additions | 5,003 | 100,000 | - | - | 105,003
| Disposals | (233,776) | - | - | (193,082) | (426,858)
| Revaluations | (698) | - | (288,499) | - | (289,197)
| At 31 December 2024 | 4,305 | 100,000 | 1,560,000 | 1,283,147 | 2,947,452
Page 7
T.G. Claymore (UK) Limited Notes to the financial statements For the year ended 31 December 2024
7. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | 266,420 | 160,078
| Prepayments and accrued income | 1,620 | 6,246
|  | 268,040 | 166,324
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank overdrafts | 9,718 | 5,859
| Trade creditors | 10,324 | 44,564
| Corporation tax | - | 74,206
| Other taxation and social security | 13,140 | 3,090
| Other creditors | 30,172 | 96,631
| Accruals and deferred income | 28,901 | 21,261
|  | 92,255 | 245,611
9. | Deferred taxation
|  | 2024
|  | £
| At beginning of year | (366,675)
| Charged to profit or loss | 72,281
| At end of year | (294,394)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | (8,112) | (6,046)
| Future gains on investment properties | (286,282) | (360,629)
|  | (294,394) | (366,675)
Page 8
T.G. Claymore (UK) Limited Notes to the financial statements For the year ended 31 December 2024
10. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2,100,000 (2023 - 2,100,000) Ordinary shares of £1.00 each | 2,100,000 | 2,100,000
11. | Related party transactions
| Baltic Professional Investments Limited, an entity under common control, obtained an interest free loan facility from T.G. Claymore (UK) Limited. This loan was novated from T G Consultants Limited, an entity also under common control, during the year. The balance that stood on this loan at 31 December 2024 was £1,283,147 (2023 £1,476,229). At the balance sheet date the company was owed a sum of £250,340 by a company director (2023: £154,378). This loan was settled in full within nine months of the year end.
12. | Controlling party
The company is controlled by N J B Fielding by virtue of his majority shareholding.
13. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 30 September 2025 by Stuart Whorlow (Senior statutory auditor) on behalf of Cassidys Limited.
Page 9