Registration number: 03748024

Cult Clothing Cheltenham Limited

(Registration number: 03748024)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Investments	4	15,380,154	15,380,154
Current assets
Debtors	5	67	1,897
Cash at bank and in hand		50,104	512,951
		50,171	514,848
Creditors: Amounts falling due within one year	6	(22,252)	(22,152)
Net current assets		27,919	492,696
Total assets less current liabilities		15,408,073	15,872,850
Creditors: Amounts falling due after more than one year	6	(7,206,056)	(7,666,056)
Net assets		8,202,017	8,206,794
Capital and reserves
Called up share capital		200	200
Retained earnings		8,201,817	8,206,594
Shareholders' funds		8,202,017	8,206,794

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.

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 his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 November 2025
 

J M Dunkerton Director

Cult Clothing Cheltenham Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1

General information

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

The address of its registered office is:
Dowdeswell Park
London Road
Cheltenham
Gloucestershire
GL52 6UT

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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 years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Revenue recognition

There is no turnover in the year. The turnover in 2024 represents rental income receivable for the year, net of value added tax.

Tax

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

Deferred 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 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings Leasehold	Life of lease 14 years

Cult Clothing Cheltenham Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Cult Clothing Cheltenham Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

4

Investments

	2025 £	2024 £
Investments in subsidiaries	20,052	20,052
Other investments	15,360,102	15,360,102
	15,380,154	15,380,154

The other investments represent the company's shares in The Lucky Onion LLP (formerly Dunkerton Properties LLP) (OC356004) and Dowdeswell Aviation LLP (OC385653), limited liability partnerships in which Cult Clothing Cheltenham Limited is a designated member.

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2025	2024
Subsidiary undertakings
Candlyn Properties Developments Limited	Dowdeswell Park London Road Cheltenham GL52 6UT	Ordinary shares	100%	100%
Cult Clothing Limited	Dowdeswell Park London Road Cheltenham GL52 6UT	Ordinary shares	100%	100%

The aggregate amount of capital and reserves of Candlyn Properties Developments Limited at the end of the period was £52.

The aggregate amount of capital and reserves of Cult Clothing Limited at the end of the period was £20,000.

5

Debtors

	2025 £	2024 £
Other debtors	67	1,897
	67	1,897

Cult Clothing Cheltenham Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

6

Creditors

	Note	2025 £	2024 £
Due within one year
Amounts due to related parties	7	20,052	20,052
Accruals and deferred income		2,200	2,100
		22,252	22,152