Clerks Well Properties Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 07068620 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Clerks Well Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B N Gorst

V J Gorst

A Canty

J Buss

REGISTERED OFFICE:

290 High Street

Aldeburgh

Suffolk

IP15 5DQ

REGISTERED NUMBER:

07068620 (England and Wales)

ACCOUNTANTS:

K Shah & Co

Chartered Certified Accountants

Buckingham House East

Buckingham Parade

Stanmore

Middlesex

HA7 4EB

FIXED ASSETS

Investments

3

6,103,881

6,168,881

Investment property

4

13,654,364

13,090,693

19,758,245

19,259,574

CURRENT ASSETS

Debtors

5

266,204

195,028

Cash at bank

17,081

10,015

283,285

205,043

CREDITORS

Amounts falling due within one year

6

4,198,661

3,827,849

NET CURRENT LIABILITIES

(3,915,376

)

(3,622,806

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,842,869

15,636,768

CREDITORS

Amounts falling due after more than one year

7

10,433,012

10,731,047

NET ASSETS

5,409,857

4,905,721

CAPITAL AND RESERVES

Called up share capital

300,004

300,004

Share premium

21,846

21,846

Retained earnings

5,088,007

4,583,871

SHAREHOLDERS' FUNDS

5,409,857

4,905,721

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 21 September 2017 and were signed on its behalf by:

B N Gorst - Director

1.	STATUTORY INFORMATION

Clerks Well Properties 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

Investment property, which is property held to earn rentals and/or for capital appreciation, is usually measured

using the fair value model and stated at its fair value as at the reporting date. The surplus or deficit on revaluation

is recognised in the income statement.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for at cost or

the last available external valuation.

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 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.

3.	FIXED ASSET INVESTMENTS

Interest

in joint

Other

venture

investments

Totals

£

£

£

COST

At 1 January 2016

505,084

5,663,797

6,168,881

Additions

60,000

-

60,000

Reclassification/transfer

(125,000

)

-

(125,000

)

At 31 December 2016

440,084

5,663,797

6,103,881

NET BOOK VALUE

At 31 December 2016

440,084

5,663,797

6,103,881

At 31 December 2015

505,084

5,663,797

6,168,881

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2016

13,090,693

Additions

563,671

At 31 December 2016

13,654,364

NET BOOK VALUE

At 31 December 2016

13,654,364

At 31 December 2015

13,090,693

Investment property is stated at cost as the directors do not consider that it is commercially beneficial to incur the

cost of preparing regular valuations.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Other debtors

266,204

195,028

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Bank loans and overdrafts

580,761

633,335

Taxation and social security

131,756

159,895

Other creditors

3,486,144

3,034,619

4,198,661

3,827,849

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Bank loans

2,000,000

2,000,000

Other creditors

8,433,012

8,731,047

10,433,012

10,731,047

8.	RELATED PARTY DISCLOSURES