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Registration number: 08987403

That Clifton Company Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2024

That Clifton Company Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 8

That Clifton Company Limited

Company Information

Directors | Steven Andrew Brown Raymond Stuart Kelvin CBE Peter Stephen Tisdale

Registered office | 18 Albert Road Bournemouth Dorset BH1 1BZ

Accountants | Prescient Accounting Ltd Chartered Accountants Basepoint Abbey Park Industrial Estate Romsey Hampshire SO51 9AQ

That Clifton Company Limited

(Registration number: 08987403)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | - | 5,600,000
Current assets |  |  |
Debtors | 5 | 6,720,532 | 392
Cash at bank and in hand |  | 2,885 | 605
|  | 6,723,417 | 997
Creditors: Amounts falling due within one year | 6 | (158,444) | (117,336)
Net current assets/(liabilities) |  | 6,564,973 | (116,339)
Total assets less current liabilities |  | 6,564,973 | 5,483,661
Creditors: Amounts falling due after more than one year | 6 | (9,442,543) | (8,160,762)
Net liabilities |  | (2,877,570) | (2,677,101)
Capital and reserves |  |  |
Called up share capital | 7 | 100 | 100
Retained earnings |  | (2,877,670) | (2,677,201)
Shareholders' deficit |  | (2,877,570) | (2,677,101)

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.

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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 March 2026 and signed on its behalf by:

That Clifton Company Limited

(Registration number: 08987403)
Balance Sheet as at 31 December 2024 (continued)

......................................... Steven Andrew Brown Director

That Clifton Company Limited

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

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:
18 Albert Road
Bournemouth
Dorset
BH1 1BZ
England

These financial statements were authorised for issue by the Board on 9 March 2026.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the requirements of the Companies Act 2006 as
applicable to companies subject to the small companies regime. 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.

Basis of preparation

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Basis other than going concern
As required by UK accounting standards, the directors have prepared the financial statements on the basis that the company is no longer a going concern. This has resulted in material adjustments and impairments as a
result of adopting a non-going concern basis of accounting, which includes where appropriate, writing down the company's assets to net realisable value. The financial statements do not include any provision for
the future costs of terminating the business of the company except to the extent that such costs were committed at the balance sheet date.

That Clifton Company Limited

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

2 | Accounting policies (continued)

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on
amounts recognised in the financial statements.
Depreciation
The director considers the depreciation policy to be a crucial accounting estimate. The expected useful life
of all fixed asset categories are reviewed annually by management based on industry experience and are
considered reasonable.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12
'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs. Financial assets classified as receivable within one year are
not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from connected companies are initially
recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Management recharges
Management recharges are levied from That Topco Limited, a company connected by way of common
directorships. The recharge which includes salary and overhead costs is based on managements' estimate of
the amount of time spend on the affairs of That Clifton Company Limited.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Assets under construction represents the current project under development which is included at cost. There
has been no depreciation charged or impairment as the project is not yet completed.
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to
determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,
the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

That Clifton Company Limited

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

2 | Accounting policies (continued)

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on
amounts recognised in the financial statements.
Depreciation
The director considers the depreciation policy to be a crucial accounting estimate. The expected useful life
of all fixed asset categories are reviewed annually by management based on industry experience and are
considered reasonable.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12
'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs. Financial assets classified as receivable within one year are
not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from connected companies are initially
recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Management recharges
Management recharges are levied from That Topco Limited, a company connected by way of common
directorships. The recharge which includes salary and overhead costs is based on managements' estimate of
the amount of time spend on the affairs of That Clifton Company Limited.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Assets under construction represents the current project under development which is included at cost. There
has been no depreciation charged or impairment as the project is not yet completed.
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to
determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,
the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Tangible assets

Tangible assets are stated in the balance sheet 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 | No depreciation

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

That Clifton Company Limited

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

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4 | Tangible assets

| Land and buildings £ | Total £
Cost or valuation
At 1 January 2024 | 5,600,000 | 5,600,000
Disposals | (5,600,000) | (5,600,000)
At 31 December 2024 | - | -
Depreciation
Carrying amount
At 31 December 2024 | - | -
At 31 December 2023 | 5,600,000 | 5,600,000

Included within the net book value of land and buildings above is £ (2023 - £5,600,000) in respect of freehold land and buildings.

5 | Debtors

Current | 2024 £ | 2023 £
Trade debtors | 6,720,000 | -
Other debtors | 532 | 392
| 6,720,532 | 392

That Clifton Company Limited

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

6 | Creditors

Creditors: amounts falling due within one year

| 2024 £ | 2023 £
Due within one year |  |
Trade creditors | 150,044 | 113,336
Other creditors | 8,400 | 4,000
| 158,444 | 117,336

Creditors: amounts falling due after more than one year

| 2024 £ | 2023 £
Due after one year |  |
Other creditors | 9,442,543 | 8,160,762

7 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary Shares of £1 each | 100 | 100 | 100 | 100

8 | Related party transactions

The company has taken advantage of the exemption in FRS 102 from the requirement to disclose transactions with group companies.
Included in creditors due after more than one year is an amount of £4,991,094 (2023: £3,991,394) owed to a director. The movement in the year relates to the net monies advanced to the company.

9 | Parent company

The company's ultimate parent company is That Holdco Limited, a company incorporated in England and Wales.