Clifton Homes (SW) Limited

(Registration number: 04788919)
Balance Sheet as at 31 March 2025

	Note	2025 £	(As restated) 2024 £
Fixed assets
Tangible assets	5	791	1,187
Investment property	6	98,623	98,623
		99,414	99,810
Current assets
Stocks	7	470,216	435,610
Debtors	8	22,014	167,216
Cash at bank and in hand		94,368	199,055
		586,598	801,881
Creditors: Amounts falling due within one year	9	(13,435)	(24,292)
Net current assets		573,163	777,589
Net assets		672,577	877,399
Capital and reserves
Called up share capital	10	2	2
Retained earnings		672,575	877,397
Shareholders' funds		672,577	877,399

Clifton Homes (SW) Limited

(Registration number: 04788919)
Balance Sheet as at 31 March 2025

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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 17 December 2025 and signed on its behalf by:
 

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

J Amos
Director

Clifton Homes (SW) Limited

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

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:
The Laurels
Downleaze
Stoke Bishop
Bristol
BS9 1LT

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 years presented.

Statement of compliance

These financial statements have been prepared in compliance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "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.

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 £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to continue to trade for the foreseeable future. The directors have indicated their willingness to continue to support the company and accordingly the accounts have been prepared on the basis that the company is a going concern.

Clifton Homes (SW) Limited

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

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services, or the sale of land or property in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
and it is probable that future economic benefits will flow to the entity.

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.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.

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

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Bicycle	25% straight line

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.

Stocks

Stock comprises land held for development, options to acquire land, and associated costs incurred in securing planning permission. Stock is stated at the lower of cost and estimated selling price less costs to complete and sell.

Clifton Homes (SW) Limited

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

2	Accounting policies (continued)

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

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

Clifton Homes (SW) Limited

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

3	Prior year adjustment

During the preparation of the financial statements for the year ended 31 March 2025, it was identified that certain transactions in the prior year had been incorrectly recorded. Legal and professional costs relating to securing planning permission on sites already held in stock have now been capitalised if the probability of securing planning permission is over 50%. The errors related to:

• Stock: £45,610 of stock was incorrectly allocated to legal and professional costs.
• Profit: Stock of £45,610 was included within admin expenses causing profit to be understated.

The adjustments were necessary to reflect the correct position of stock and profit at 31 March 2024.

4	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 3).

5	Tangible fixed assets

	Bicycle  £
Cost
At 1 April 2024	1,583
At 31 March 2025	1,583
Depreciation
At 1 April 2024	792
At 31 March 2025	792
Carrying amount
At 31 March 2025	791
At 31 March 2024	1,187

Clifton Homes (SW) Limited

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

6	Investment properties

	2025 £
At 1 April	98,623
At 31 March	98,623

The director has confirmed that the property is held at fair value.

7

Stocks

	2025 £	(As restated) 2024 £
Stock	470,216	435,610

8	Debtors: amounts falling due within one year

	2025 £	2024 £
VAT	6,298	3,872
Corporation tax	9,470	-
Directors' loan accounts	6,246	163,344
	22,014	167,216

9	Creditors: amounts falling due within one year

	2025 £	2024 £
Corporation tax	-	11,707
Accruals	13,435	12,585
	13,435	24,292

The director's loan account has an interest rate of 5% (2023 - 5%) per annum.

Clifton Homes (SW) Limited

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

10	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary A shares of £1 each	1	1	1	1
Ordinary B shares of £1 each	1	1	1	1
	2	2	2	2

11	Related party transactions

Transactions with directors

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
J Amos and S Amos	163,344	(376,406)	219,308	6,246

2024	At 1 April 2023 £	Advances to director £	Repayments by director £	At 31 March 2024 £
J Amos and S Amos	(72,863)	236,519	(312)	163,344