Clownalley Limited - Accounts to registrar (filleted) - small 18.2

Clownalley Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 06046833 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2022

for

Clownalley Limited

Clownalley Limited (Registered number: 06046833)






Contents of the Financial Statements
for the Year Ended 28 February 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Clownalley Limited

Company Information
for the Year Ended 28 February 2022







DIRECTOR: M Williams



REGISTERED OFFICE: North Star House
11 London Road
Bromley
Kent
BR1 1BY



REGISTERED NUMBER: 06046833 (England and Wales)



ACCOUNTANTS: BW Barfoot Accountancy Limnited
31 Churchgate Way
Terrington St Clement
King's Lynn
Norfolk
PE34 4PG



BANKERS: Royal Bank of Scotland
Bromley Branch
12 Elmfield Road
Bromley
Kent
BR1 1LP

Clownalley Limited (Registered number: 06046833)

Abridged Balance Sheet
28 February 2022

28.2.22 28.2.21
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 5,776,067 4,660,000

CURRENT ASSETS
Debtors 14,651 12,113
Cash at bank 23,613 32,402
38,264 44,515
CREDITORS
Amounts falling due within one year 2,616,394 2,319,849
NET CURRENT LIABILITIES (2,578,130 ) (2,275,334 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,197,937

2,384,666

CREDITORS
Amounts falling due after more than
one year

5

3,055,678

2,279,436
NET ASSETS 142,259 105,230

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 142,159 105,130
SHAREHOLDERS' FUNDS 142,259 105,230

Clownalley Limited (Registered number: 06046833)

Abridged Balance Sheet - continued
28 February 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 November 2022 and were signed by:





M Williams - Director


Clownalley Limited (Registered number: 06046833)

Notes to the Financial Statements
for the Year Ended 28 February 2022

1. STATUTORY INFORMATION

Clownalley 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 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.

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.

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.

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 1 (2021 - 2 ) .

Clownalley Limited (Registered number: 06046833)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2021 4,660,000
Additions 1,116,067
At 28 February 2022 5,776,067
NET BOOK VALUE
At 28 February 2022 5,776,067
At 28 February 2021 4,660,000

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
FIVE YEARS
28.2.22 28.2.21
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,598,411 1,823,088

6. LOANS

An analysis of the maturity of loans is given below:

28.2.22 28.2.21
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 457,267 -

Amounts falling due between two and five years:
Bank loans - 2-5 years - 456,348

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,598,411 1,823,088

7. SECURED DEBTS

The bank loans are secured by a fixed charge over the investment properties owned by the company.

Clownalley Limited (Registered number: 06046833)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 28.2.22 28.2.21
value: £    £   
100 Ordinary 1 100 100

9. RELATED PARTY DISCLOSURES

The company is a subsidiary of North Star (2000) Limited, a company registered in England and Wales, which owns 100% of the ordinary share capital.

As at 28 February 2022 the company owed to North Star (2000) Limited £2,560,517 in respect of loan advances (2021 - £2,272,089) which is repayable on demand.