Clydrock Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 01581371

CLYDROCK LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2023

CLYDROCK LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

CONTENTS	PAGES

Officers and professional advisers	1

Balance sheet	2 to 3

Notes to the financial statements	4 to 6

CLYDROCK LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

DIRECTOR	Mr H Bondi

REGISTERED OFFICE	479 Holloway Road
	London
	N7 6LE

CLYDROCK LIMITED

BALANCE SHEET

31 March 2023

	2023		2022
Note	£	£	£	£

CURRENT ASSETS

Debtors	5	44,619	38,689
Investments	6	441,338	462,532
Cash at bank and in hand		59	1,161
		----------	----------
		486,016	502,382

CREDITORS: amounts falling due within one year	7	( 2,400)		( 5,093)
		----------		----------
NET CURRENT ASSETS			483,616		497,289
			----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES			483,616		497,289

PROVISIONS

Taxation including deferred tax	( 93,000)	( 97,000)
	----------	----------
NET ASSETS	390,616	400,289
	----------	----------

CAPITAL AND RESERVES

Called up share capital	2	2
Profit and loss account	390,614	400,287
	----------	----------
SHAREHOLDERS FUNDS	390,616	400,289
	----------	----------

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 Section 1A of 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 profit and loss account has not been delivered.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have 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 .

CLYDROCK LIMITED

BALANCE SHEET (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 18 March 2024 , and are signed on behalf of the board by:

Mr H Bondi
Director

Company registration number: 01581371

CLYDROCK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 479 Holloway Road, London, N7 6LE.

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.

Judgements and key sources of estimation uncertainty

Judgements made by the directors in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are as follows: (i) Trade and other debtors Management uses details of the age of trade and other debtors and the status of any disputes together with external evidence of the credit status of the counterparty in making judgements concerning any need to impair the carrying value.

Turnover

Turnover represents dividends received from listed securities.

Taxation

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.

Current asset investments

Where investments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All other financial assets are assessed individually for impairment. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. EMPLOYEE NUMBERS

The average number of persons employed by the group during the year, including the directors, amounted to nil (2022: nil).

5. DEBTORS

	2023	2022
	£	£
Amounts owed by group undertakings	44,619	35,538
Other debtors	–	3,151
	---------	---------
	44,619	38,689
	---------	---------

6. INVESTMENTS

	2023	2022
	£	£
Other investments	441,338	462,532
	----------	----------

Current asset investments comprises shares in listed companies. The shares are valued at market value.

7. CREDITORS: amounts falling due within one year

	2023	2022
	£	£
Other creditors	2,400	5,093
	-------	-------

8. RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemptions conferred by FRS 102 Section 1A and has not disclosed details of transactions with group member undertakings.

9. CONTROLLING PARTY

The parent company is Ryness Properties UK Limited , a company incorporated in England and Wales. The address of the registered office of Ryness Properties UK Limited is New Burlington House, 1075 Finchley Road, London, NW11 0PU.