Clements Estates Limited - Accounts to registrar (filleted) - small 18.2

CLEMENTS ESTATES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S L Sayers

A J Clements

A J Clements

Mrs H L Clements

SECRETARY:

Mrs H L Clements

REGISTERED OFFICE:

PRIVATE AND CONFIDENTIAL

Wimborne, Uplands Road

Denmead

Waterlooville

Hampshire

PO7 6HF

REGISTERED NUMBER:

06265295 (England and Wales)

ACCOUNTANTS:

Compass Accountants Limited

Chartered Accountants

Venture House

The Tanneries

East Street

Titchfield

Hampshire

PO14 4AR

FIXED ASSETS

Investment property

4

795,335

795,335

CURRENT ASSETS

Cash at bank

20,520

36,520

CREDITORS

Amounts falling due within one year

5

821,002

827,293

NET CURRENT LIABILITIES

(800,482

)

(790,773

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,147

)

4,562

CAPITAL AND RESERVES

Called up share capital

6

4

4

Retained earnings

(5,151

)

4,558

SHAREHOLDERS' FUNDS

(5,147

)

4,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th June 2020 and were signed on its behalf by:

A J Clements - Director

Mrs H L Clements - Director

1.	STATUTORY INFORMATION

Clements Estates Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 balance sheet date.

Basic 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.

Financial instruments are recognised when the company becomes party to the contractual provisions of the

instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there

is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis

or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments,

trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items

approximates their carrying value due to their short term value. Unless otherwise noted, the company is not

exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st June 2019

and 31st May 2020

795,335

NET BOOK VALUE

At 31st May 2020

795,335

At 31st May 2019

795,335

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other creditors

821,002

827,293

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

4

Ordinary

1

4

4