Clearbuild Limited - Accounts to registrar (filleted) - small 17.3
Clearbuild Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| FOR |
| CLEARBUILD LIMITED |
| CLEARBUILD LIMITED (REGISTERED NUMBER: 04175613) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Abridged Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| CLEARBUILD LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 March 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 2 Hilliards Court |
| Chester Business Park |
| Chester |
| Cheshire |
| CH4 9PX |
| BANKERS: |
| 30 St Werburgh Street |
| Chester |
| Cheshire |
| CH1 2DY |
| CLEARBUILD LIMITED (REGISTERED NUMBER: 04175613) |
| ABRIDGED STATEMENT OF FINANCIAL POSITION |
| 31 March 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 3 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| 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. |
| CLEARBUILD LIMITED (REGISTERED NUMBER: 04175613) |
| ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
| 31 March 2017 |
| 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 signed on its behalf by: |
| CLEARBUILD LIMITED (REGISTERED NUMBER: 04175613) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Clearbuild Limited is a |
| 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 |
| First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
| These financial statements for the year ended 31 March 2017 are the first that are prepared |
| in accordance with FRS 102 Section 1A. The previous financial statements were prepared in |
| accordance with UK GAAP, the date of transition to FRS 102 Section 1A is 1 April 2015. |
| Turnover |
| Turnover represents rents receivable, excluding value added tax. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not |
| reversed at the statement of financial position 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. |
| CLEARBUILD LIMITED (REGISTERED NUMBER: 04175613) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2017 |
| 3. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2016 |
| and 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Fair value at 31 March 2017 is represented by: |
| £ |
| Valuation in 2003 | 15,889 |
| Valuation in 2004 | 20,000 |
| Cost | 148,226 |
| 184,115 |
| If investment property had not been revalued it would have been included at the following |
| historical cost: |
| 2017 | 2016 |
| £ | £ |
| Cost | 148,226 | 148,226 |
| Investment property was valued on an open market basis on 31 March 2015 by P B Adams FRICS a director of the company |
| . |
| 4. | RELATED PARTY DISCLOSURES |
| Perigord Limited, a company owned wholly by the directors of Clearbuild Limited was owed |
| £50,219 by Clearbuild Limited at 31 March 2017 (2016 - £50,219). |
| CLEARBUILD LIMITED (REGISTERED NUMBER: 04175613) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 March 2017 |
| 5. | FIRST YEAR ADOPTION |
| The financial statements for the year ended 31st March 2017 are the first financial |
| statements that comply with FRS102 . The transition to FRS 102 has resulted in a change to |
| accounting policies as detailed below . |
| The investment property was previously accounted for under FRSSE( effective January |
| 2015 ) , which required gains and losses on the property's open market to be taken to a |
| revaluation reserve . The property is being measured at fair value under FRS 102 and fair |
| value gains and losses are reported in the profit and loss account . FRS102 also requires |
| deferred tax to be accounted for on assets that are subject to revaluation . |
| Consequently deferred tax of £6,819 was recognised at 1st April 2015 to reflect the |
| provisions of FRS102 . |
| As there were no further changes in valuation during financial years ended 31 March 2016 |
| and 31 March 2017 no further adjustment to deferred taxation has been deemed necessary. |