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

REGISTERED NUMBER: 06046833 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2021

for

Clownalley Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Williams

D 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

FIXED ASSETS

Investment property

4

4,660,000

4,660,000

CURRENT ASSETS

Debtors

12,113

5,758

Cash at bank

32,402

15,396

44,515

21,154

CREDITORS

Amounts falling due within one year

2,319,849

2,347,314

NET CURRENT LIABILITIES

(2,275,334

)

(2,326,160

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,384,666

2,333,840

CREDITORS

Amounts falling due after more than one year

5

2,279,436

2,271,448

NET ASSETS

105,230

62,392

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

105,130

62,292

SHAREHOLDERS' FUNDS

105,230

62,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 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 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 2021 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 Board of Directors on 27 October 2021 and were signed on its behalf by:

M Williams - Director

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 2 (2020 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2020

and 28 February 2021

4,660,000

NET BOOK VALUE

At 28 February 2021

4,660,000

At 29 February 2020

4,660,000

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

28.2.21

29.2.20

£

£

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,823,088

1,528,016

6.

LOANS

An analysis of the maturity of loans is given below:

28.2.21

29.2.20

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

456,348

743,432

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,823,088

1,528,016

7.	SECURED DEBTS

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

company.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.21

29.2.20

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 2021 the company owed to North Star (2000) Limited £2,272,089 in

respect of loan advances (2020 - £2,272,089) which is repayable on demand.