Company No: 00590741 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	735		996
Investment property	4	8,445,283		8,445,283
Investments	5	3,334,541		3,195,701
		11,780,559		11,641,980
Current assets
Debtors	6	172,742		86,463
Cash at bank and in hand		622,786		434,826
		795,528		521,289
Creditors: amounts falling due within one year	7	( 713,957)		( 696,020)
Net current assets/(liabilities)		81,571		(174,731)
Total assets less current liabilities		11,862,130		11,467,249
Provision for liabilities	8	( 1,691,524)		( 1,582,347)
Net assets		10,170,606		9,884,902
Capital and reserves
Called-up share capital	9	500		500
Revaluation reserve		389,362		299,189
Fair value reserve		5,064,572		5,064,572
Profit and loss account		4,716,172		4,520,641
Total shareholders' funds		10,170,606		9,884,902

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Clival Investments Limited (registered number: 00590741) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

V Chalfen Director

05 December 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Clival Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised by the company in respect of rental income over the period to which it relates.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Computer equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	3		3

3. Tangible assets

	Plant and machinery		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2024	2,450		18,405		569		21,424
At 31 March 2025	2,450		18,405		569		21,424
Accumulated depreciation
At 01 April 2024	2,450		17,931		47		20,428
Charge for the financial year	0		118		143		261
At 31 March 2025	2,450		18,049		190		20,689
Net book value
At 31 March 2025	0		356		379		735
At 31 March 2024	0		474		522		996

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	8,445,283
As at 31 March 2025	8,445,283

Valuation

A full market valuation of investment property was completed by directors at the statement of financial position date.

The above investment properties are subject to operating lease rental agreements.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	1,856,301		1,856,301

5. Fixed asset investments

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	3,195,701		3,195,701
Additions	679,548		679,548
Disposals	( 669,746)		( 669,746)
Movement in fair value	129,038		129,038
At 31 March 2025	3,334,541		3,334,541
Carrying value at 31 March 2025	3,334,541		3,334,541
Carrying value at 31 March 2024	3,195,701		3,195,701

6. Debtors

	2025		2024
	£		£
Trade debtors	24,324		31,673
Prepayments	10,679		14,740
Deposits	36,284		33,146
Other debtors	101,455		6,904
	172,742		86,463

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	6,720		2,533
Amounts owed to directors	3,350		3,876
Accruals and deferred income	78,358		82,592
Taxation and social security	90,113		74,066
Other creditors	535,416		532,953
	713,957		696,020

8. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 1,582,347)		( 1,581,680)
Charged to the Profit and Loss Account	( 109,177)		( 667)
At the end of financial year	( 1,691,524)		( 1,582,347)

The deferred taxation balance is made up as follows:

	2025		2024
	£		£
Revaluation of investment property	( 1,561,737)		( 1,561,726)
Other timing differences	( 129,787)		( 20,621)
	( 1,691,524)		( 1,582,347)

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
500 Ordinary shares of £ 1.00 each	500		500

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Included within creditors is a balance owed to the directors. This balance is unsecured and interest free with no fixed repayment terms.	3,350		3,876

Other related party transactions

	2025		2024
	£		£
Included within other creditors is a balance owed to a company with common directors. This balance is unsecured and interest free with no fixed repayment terms.	480,000		480,000