Registration number:
That Clifton Company Limited
for the Year Ended 31 December 2025
That Clifton Company Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
That Clifton Company Limited
Company Information
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Directors |
Steven Andrew Brown Raymond Stuart Kelvin CBE Peter Stephen Tisdale |
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Registered office |
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Accountants |
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That Clifton Company Limited
(Registration number: 08987403)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(3,021,365) |
(2,877,670) |
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Shareholders' deficit |
(3,021,265) |
(2,877,570) |
For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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That Clifton Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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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.
That Clifton Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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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 2025 (continued)
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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:
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Asset class |
Depreciation method and rate |
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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.
Borrowings
That Clifton Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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Accounting policies (continued) |
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Other debtors |
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That Clifton Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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- |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Other borrowings |
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- |
That Clifton Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
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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 £4,993,777 (2024: £4,991,094) owed to a director. The movement in the year relates to the net monies advanced to the company.
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Parent company |
The company's ultimate parent company is That Holdco Limited, a company incorporated in England and Wales.