Cloverleaf Estates Limited - Period Ending 2017-07-31

Registration number: 06634931

Cloverleaf Estates Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2017

C V Ross & Co Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Cloverleaf Estates Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 6

Cloverleaf Estates Limited

Company Information

Director

Mr P J Caldwell

Company secretary

Mr P J Caldwell

Registered office

25 Sefton Park Road St Andrews Bristol BS7 9AN

Accountants

C V Ross & Co Limited Accountants and Tax Consultants Unit 1, Office 1 Tower Lane Business Park Tower Lane Warmley Bristol BS30 8XT

Page 1

Cloverleaf Estates Limited

(Registration number: 06634931)
Balance Sheet as at 31 July 2017

	Note	2017 £	2016 £
Creditors: Amounts falling due within one year	2	(14,127)	(13,789)
Capital and reserves
Called up share capital		1	1
Profit and loss account		(14,128)	(13,790)
Total equity		(14,127)	(13,789)

For the financial year ending 31 July 2017 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The notes on pages 4 to 6 form an integral part of these financial statements.

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Cloverleaf Estates Limited

(Registration number: 06634931)
Balance Sheet as at 31 July 2017

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 20 March 2018
 

.........................................

Mr P J Caldwell

Director

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 3

Cloverleaf Estates Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis with the understanding of the continued support of the director.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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Cloverleaf Estates Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Bank loans and overdrafts	4	-	1
Trade creditors		-	534
Accruals and deferred income		300	270
Other creditors		13,827	12,984
		14,127	13,789

3	Share capital

Allotted, called up and fully paid shares

	2017		2016
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

4	Loans and borrowings

	2017 £	2016 £
Current loans and borrowings
Bank overdrafts	-	1

Page 5

Cloverleaf Estates Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

5	Related party transactions

Transactions with directors

2017	At 1 August 2016 £	Advances to directors £	Repayments by director £	At 31 July 2017 £
Mr P J Caldwell
Balance owed to/(by) the director	12,984	(4)	847	13,827

2016	At 1 August 2015 £	Advances to directors £	At 31 July 2016 £
Mr P J Caldwell
Balance owed to/(by) the director	13,006	(22)	12,984

6	Transition to FRS 102

These financial statements for the year ended 31 July 2017 are the first financial statements that comply with FRS 102 Section 1A small entities. The transition date is 1 August 2016.

The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in the accounting policies than those used previously.

No transitional adjustments were required in equity or profit or loss for the current or prior year.

Page 6