Cluster Limited - Accounts to registrar (filleted) - small 18.2
Cluster Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| FOR |
| CLUSTER LIMITED |
| CLUSTER LIMITED (REGISTERED NUMBER: 05929505) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| CLUSTER LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 30 September 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 54 Sun Street |
| Waltham Abbey |
| Essex |
| EN9 1EJ |
| CLUSTER LIMITED (REGISTERED NUMBER: 05929505) |
| BALANCE SHEET |
| 30 September 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| CLUSTER LIMITED (REGISTERED NUMBER: 05929505) |
| BALANCE SHEET - continued |
| 30 September 2022 |
| 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 |
| CLUSTER LIMITED (REGISTERED NUMBER: 05929505) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 September 2022 |
| 1. | STATUTORY INFORMATION |
| Cluster Limited is a |
| The presentation currency of the financial statement is the Pound Sterling (£) which is the functional currency of the company and rounded to the nearest £. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rent receivable from property investments. |
| 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. |
| The company measures at fair value of its listed investments at the end of each accounting period reflecting any adjustment for fair value through the profit and loss account for the year. |
| Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
| The methods and significant assumptions used to ascertain the fair value at the balance sheet date and fair value movement included in the profit for the year are as follows: |
| The investment properties are revalued annually to fair value by company directors with periodic external open market valuations. |
| 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. |
| CLUSTER LIMITED (REGISTERED NUMBER: 05929505) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2022 |
| 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. |
| Debtors and creditors receivable/payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Going concern |
| The directors to whom the company owes the sum within creditors at the balance sheet date have given an undertaking that they will not seek to pursue the liability within 12 months of the date of approval of the 2022 financial statements to an extent that would prevent the company continuing as a going concern. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2021 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2021 |
| and 30 September 2022 |
| NET BOOK VALUE |
| At 30 September 2022 |
| At 30 September 2021 |
| Fair value at 30 September 2022 is represented by: |
| £ |
| Cost | 501,606 |
| If the investment properties had not been revalued they would have been included at the following historical cost: |
| 2022 | 2021 |
| £ | £ |
| Cost | 501,606 | 501,606 |
| The investment properties were valued on an open market basis on 30 September 2022 by the directors . |
| CLUSTER LIMITED (REGISTERED NUMBER: 05929505) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 September 2022 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Rent deposits held | 6,587 | 6,087 |
| Directors' current accounts | 118,568 | 120,818 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 275,062 | 275,062 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |