The Clifton Club Company Limited - Accounts to registrar (filleted) - small 18.2
The Clifton Club Company Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
THE CLIFTON CLUB COMPANY LIMITED |
THE CLIFTON CLUB COMPANY LIMITED (REGISTERED NUMBER: 03071565) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THE CLIFTON CLUB COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
DIRECTORS: |
SECRETARIES: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Boyce's Building |
40-42 Regent Street |
Clifton |
Bristol |
BS8 4HU |
THE CLIFTON CLUB COMPANY LIMITED (REGISTERED NUMBER: 03071565) |
BALANCE SHEET |
31 DECEMBER 2021 |
31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Revaluation reserve | 12 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
THE CLIFTON CLUB COMPANY LIMITED (REGISTERED NUMBER: 03071565) |
BALANCE SHEET - continued |
31 DECEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE CLIFTON CLUB COMPANY LIMITED (REGISTERED NUMBER: 03071565) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
1. | STATUTORY INFORMATION |
The Clifton Club Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold property | - |
Club furniture and fittings | - |
Fixtures and fittings | - |
Computer equipment | - |
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. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 balance sheet date. |
THE CLIFTON CLUB COMPANY LIMITED (REGISTERED NUMBER: 03071565) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Club |
furniture | Fixtures |
Freehold | and | and | Computer |
property | fittings | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 January 2021 |
Additions |
Revaluations |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
The freehold properties were valued in July 2021 by Avison Young, Chartered Surveyors. The total of the freehold and Investment properties were valued at £3,750,000. |
The value of the freehold property has been determined by the directors to be £910,000 at the year end. |
THE CLIFTON CLUB COMPANY LIMITED (REGISTERED NUMBER: 03071565) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 December 2021 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2014 | 505,833 | - | 505,833 |
Valuation in 2021 | 160,000 | - | 160,000 |
Cost | 244,167 | 299,665 | 543,832 |
910,000 | 299,665 | 1,209,665 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2021 |
Revaluations | 740,000 |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
The freehold properties were valued in July 2021 by Avison Young, Chartered Surveyors. The total of the freehold and Investment properties were valued at £3,750,000. |
The value of the investment property has been determined by the directors to be £2,840,000 at the year end. |
Fair value at 31 December 2021 is represented by: |
£ |
Valuation in 2014 | 1,325,109 |
Valuation in 2021 | 740,000 |
Cost | 774,891 |
2,840,000 |
THE CLIFTON CLUB COMPANY LIMITED (REGISTERED NUMBER: 03071565) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 21,208 | 30,682 |
Other creditors |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Bank loans - 2-5 years |
Other creditors |
Other Creditors include amounts due to The Clifton Club of £111,284. This includes loan notes amounting to £93,600 which are unsecured, interest free and are redeemable at the option of the company. |
Bank loans consist of a new loan amount of £650,000. This is an interest only facility with interest charged at 2.35% above the Bank of England base rate. Maturity date 20 April 2022. |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.21 | 31.12.20 |
£ | £ |
Bank loans |
Svenska Handelsbanken Ab hold a fixed charge over the company's properties and fixed and floating debentures over all of the company's assets. |
THE CLIFTON CLUB COMPANY LIMITED (REGISTERED NUMBER: 03071565) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
10. | PROVISIONS FOR LIABILITIES |
31.12.21 | 31.12.20 |
£ | £ |
Deferred tax | 535,242 | 457,882 |
Other provisions | 63,647 | 63,430 |
Deferred | Other |
tax | provisions |
£ | £ |
Balance at 1 January 2021 |
Provided during year |
Balance at 31 December 2021 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.21 | 31.12.20 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
12. | RESERVES |
Revaluatio |
reserve |
£ |
At 1 January 2021 |
Revaluation | 900,000 |
At 31 December 2021 |
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
14. | RELATED PARTY DISCLOSURES |
Unless otherwise disclosed, all related party transactions have been conducted under normal market conditions. |
THE CLIFTON CLUB COMPANY LIMITED (REGISTERED NUMBER: 03071565) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
15. | ULTIMATE CONTROLLING PARTY |
There is no ultimate controlling party. |