| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| Cloverco Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| Cloverco Limited |
| Cloverco Limited (Registered number: 13904638) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Statement of Financial Position | 3 |
| Notes to the Financial Statements | 4 |
| Cloverco Limited |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered accountants |
| 2nd Floor |
| 33 Park Place |
| Leeds |
| LS1 2RY |
| Chartered Accountants' Report to the Director |
| on the Unaudited Financial Statements of |
| Cloverco Limited |
| The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cloverco Limited for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the director of Cloverco Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cloverco Limited and state those matters that we have agreed to state to the director of Cloverco Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cloverco Limited and its director for our work or for this report. |
| It is your duty to ensure that Cloverco Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cloverco Limited. You consider that Cloverco Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Cloverco Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered accountants |
| 2nd Floor |
| 33 Park Place |
| Leeds |
| LS1 2RY |
| Cloverco Limited (Registered number: 13904638) |
| Statement of Financial Position |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Retained earnings | ( |
) | ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| Cloverco Limited (Registered number: 13904638) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| Cloverco Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. |
| Going concern |
| The accounts have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. This assumption is based on the continuing support of its directors and the external funders. Such support has been maintained since the year end and will continue to be made available to the extent required to enable the company to meet its liabilities as and when they fall due during the course of the current year. |
| On the basis of the above the directors consider it appropriate to prepare the financial statements on a going concern basis. |
| Turnover |
| Turnover represents rental income from tenants, excluding VAT. Rental income is recognised over the term of the lease. |
| Investment property |
| Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. |
| Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. |
| If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. |
| Impairment of fixed assets |
| A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
| For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating |
| unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units. |
| Cloverco Limited (Registered number: 13904638) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2024 - NIL). |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) |
| Revaluations | (3,322,071 | ) |
| Reclassification/transfer | (67,676 | ) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| The investment property was valued by Jones Lang LaSalle in June 2025 on the basis of open market value, the directors have confirmed that this valuation was correct as at the year end position. |
| Fair value at 31 March 2025 is represented by: |
| £ |
| Valuation in 2024 | 22,192,534 |
| Valuation in 2025 | (3,322,071 | ) |
| Cost | 17,729,537 |
| 36,600,000 |
| Cloverco Limited (Registered number: 13904638) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Amounts owed by related |
| undertakings | 1,373,241 | 685,038 |
| VAT |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Other creditors |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans - 1-2 years |
| Amounts owed to related undertakings | - | 3,109,940 |
| There is a fixed and floating charge over the assets of the company. |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 April 2024 |
| Reclassification of reserves | (2,850,829 | ) |
| At 31 March 2025 |
| 10. | RELATED PARTY DISCLOSURES |
| Amounts Owed By Related Companies |
| The loans to related parties are not interest bearing. |
| 2025 | 2024 |
| £ | £ |
| Amount due from related party at the balance sheet date | 1,373,241 | 685,038 |
| Cloverco Limited (Registered number: 13904638) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 10. | RELATED PARTY DISCLOSURES - continued |
| Related Party Loans |
| Interest amounting to £198,961 was paid on this loan during the year. It was repaid in full by the company in July 2024. |
| 2025 | 2024 |
| £ | £ |
| Amount due to related party at the balance sheet date | - | 3,109,940 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company is not under the control of any one controlling party. On 19 August 2025 the company became a 100% subsidiary of Countrylarge Limited a company incorporated in England and Wales. |