CLAYKEN INVESTMENTS LIMITED Filleted accounts for Companies House (small and micro)

CLAYKEN INVESTMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03327023

CLAYKEN INVESTMENTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 June 2018

CLAYKEN INVESTMENTS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2018

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

CLAYKEN INVESTMENTS LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

Director	Mr S J Kennedy

Registered office	Lynton House
	7-12 Tavistock Square
	London
	WC1H 9BQ

Accountants	BSG Valentine (UK) LLP
	Chartered Accountants
	Lynton House
	7 - 12 Tavistock Square
	London
	WC1H 9BQ

CLAYKEN INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

30 June 2018

	2018		2017
Note	£	£	£	£

Fixed assets

Tangible assets	4		1,700,000		1,250,000

Current assets

Debtors	5	104,408	86,701
Cash at bank and in hand		8,927	7,374
		---------	--------
		113,335	94,075

Creditors: amounts falling due within one year	6	( 33,710)		( 31,221)
		---------		--------
Net current assets			79,625		62,854
			------------		------------
Total assets less current liabilities			1,779,625		1,312,854

Creditors: amounts falling due after more than one year	7	( 677,650)	( 682,866)
		------------	------------
Net assets		1,101,975	629,988
		------------	------------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	544,556	544,556
Profit and loss account	557,319	85,332
	------------	---------
Shareholder funds	1,101,975	629,988
	------------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

CLAYKEN INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 June 2018

These financial statements were approved by the board of directors and authorised for issue on 29 March 2019 , and are signed on behalf of the board by:

Mr S J Kennedy
Director

Company registration number: 03327023

CLAYKEN INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

4. Tangible assets

	Land and buildings
	£
Cost or valuation
At 1 July 2017	1,250,000
Revaluations	450,000
	------------
At 30 June 2018	1,700,000
	------------
Depreciation
At 1 July 2017 and 30 June 2018	–
	------------
Carrying amount
At 30 June 2018	1,700,000
	------------
At 30 June 2017	1,250,000
	------------

Tangible assets held at valuation

The properties were revalued in 2018 based on a valuation by the directors.

5. Debtors

	2018	2017
	£	£
Trade debtors	51,877	41,570
Other debtors	52,531	45,131
	---------	--------
	104,408	86,701
	---------	--------

Other debtors relate to an intercompany balance with a related company.

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	18,119	18,119
Corporation tax	9,849	9,217
Other creditors	5,742	3,885
	--------	--------
	33,710	31,221
	--------	--------

7. Creditors: amounts falling due after more than one year

	2018	2017
	£	£
Bank loans and overdrafts	677,650	682,866
	---------	---------

8. Related party transactions

The company was under the control of Mr S J Kennedy throughout the current and previous year. Mr S J Kennedy is the director and sole shareholder.