Clear Property (NW) Commercial Limited - Accounts to registrar (filleted) - small 22.3

Clear Property (NW) Commercial Limited - Accounts to registrar (filleted) - small 22.3

CLEAR PROPERTY (NW) COMMERCIAL LIMITED - Company Information

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REGISTERED NUMBER: 11328462 (England and Wales)















Clear Property (NW) Commercial Limited

Unaudited Financial Statements

for the Year Ended 31 March 2022






Clear Property (NW) Commercial Limited (Registered number: 11328462






Contents of the Financial Statements
for the year ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Clear Property (NW) Commercial Limited

Company Information
for the year ended 31 March 2022







DIRECTORS: AJ Mollart
DE Waterman





REGISTERED OFFICE: 28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA





REGISTERED NUMBER: 11328462 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA
Page 1
Clear Property (NW) Commercial Limited (Registered number: 11328462

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,138,475 1,138,475

CURRENT ASSETS
Debtors 5 - 765
Cash at bank 10,244 147
10,244 912
CREDITORS
Amounts falling due within one year 6 33,672 148,630
NET CURRENT LIABILITIES (23,428 ) (147,718 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,115,047
990,757

CREDITORS
Amounts falling due after more than one
year
7
655,223
673,710
NET ASSETS 459,824 317,047

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 459,823 317,046
SHAREHOLDERS' FUNDS 459,824 317,047

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 notes form part of these financial statements

Page 2 continued...
Clear Property (NW) Commercial Limited (Registered number: 11328462

Balance Sheet - continued
31 March 2022


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 19 December 2022 and were signed on its behalf by:





AJ Mollart - Director


The notes form part of these financial statements

Page 3
Clear Property (NW) Commercial Limited (Registered number: 11328462

Notes to the Financial Statements
for the year ended 31 March 2022

1. STATUTORY INFORMATION

Clear Property (NW) Commercial 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 (£).


The amounts in the financial statements have been rounded to the nearest £1.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
In accordance with Financial Reporting Standard 102, certain of the company's properties are held for long-term investment and are included in the Balance Sheet at their fair values. Fair value gains and losses are recognised in the statement of income. Deferred taxation is provided on fair value gains at the rate expected to apply when the property is sold.

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

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.

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.

Page 4 continued...
Clear Property (NW) Commercial Limited (Registered number: 11328462

Notes to the Financial Statements - continued
for the year ended 31 March 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2021
and 31 March 2022 1,138,475
NET BOOK VALUE
At 31 March 2022 1,138,475
At 31 March 2021 1,138,475

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors - 765

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed to group undertakings 18,268 138,066
Taxation and social security 11,804 8,765
Other creditors 3,600 1,799
33,672 148,630

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Amounts owed to group undertakings 655,223 673,710

8. SECURED DEBTS

There is a cross guarantee in place between Clear Property (NW) Commercial Limited and Clear Property (NW) Limited in the name of Lloyds Bank PLC, which is a fixed and floating charge on the property in these financial statements.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1 Ordinary £1 1 1

Page 5 continued...
Clear Property (NW) Commercial Limited (Registered number: 11328462

Notes to the Financial Statements - continued
for the year ended 31 March 2022

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

In the opinion of the directors the company is controlled by the parent company Clear Companies Limited, which has held 100% of the share capital since incorporation.

Page 6