Clareville Capital Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03127042 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

CLAREVILLE CAPITAL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

D E Yarrow

R A Oury

SECRETARY:

D E Yarrow

REGISTERED OFFICE:

First Floor

121/122 Sloane Street

London

SW1X 9BW

REGISTERED NUMBER:

03127042 (England and Wales)

ACCOUNTANTS:

Oury Clark Chartered Accountants

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

BANKERS:

Clydesdale Bank plc

Business Fulfilment Team

Bering House, Mariner Court

Clydebank Business Park

Clydebank

G81 2NR

SOLICITORS:

Simmons & Simmons

CityPoint

Ropemaker Street

London

EC2Y 9SS

FIXED ASSETS

Investments

3

267,000

267,000

CURRENT ASSETS

Debtors

4

148,340

189,266

Cash at bank

449,104

217,752

597,444

407,018

CREDITORS

Amounts falling due within one year

5

43,716

39,774

NET CURRENT ASSETS

553,728

367,244

TOTAL ASSETS LESS CURRENT LIABILITIES

820,728

634,244

CAPITAL AND RESERVES

Called up share capital

6

100,000

100,000

Share premium

90,909

90,909

Capital redemption reserve

128,333

128,333

Retained earnings

501,486

315,002

SHAREHOLDERS' FUNDS

820,728

634,244

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 3 July 2018 and were signed on its behalf by:

R A Oury - Director

1.	STATUTORY INFORMATION

Clareville Capital 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 represents the amount derived from the provision of fund management services which fall within the

company's former principal activity, stated net of value added tax.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement

of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investments

Investments have been included at the lower of cost or net realisable value.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

267,000

NET BOOK VALUE

At 31 March 2018

267,000

At 31 March 2017

267,000

The investments in group undertakings represents the following:

£

Investment in Clareville Capital LLP

267,000

267,000

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Other debtors

148,340

189,266

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Taxation and social security

42,493

38,551

Other creditors & accruals

1,223

1,223

43,716

39,774

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

100,000

Ordinary shares

1

100,000

100,000

7.	RELATED PARTY DISCLOSURES

Clareville Capital Limited is a related party to Clareville Capital Partners LLP by virtue of it being a member of the

Partnership.

Clareville Capital Limited has always been entitled to receive a reimbursement of expenses incurred on its part on

behalf of Clareville Capital Partners LLP or profit distribution equivalent to any remaining expenses incurred. Where

profits are sufficient to distribute, the company will be entitled to a profit share equivalent to its agreed return on

capital of £41,632 (2017: £39,825) from Clareville Capital Partners LLP. In addition the company received a further

profit share of £191,862 (2017: £163,529).

The total amount outstanding due from Clareville Capital Partners LLP is £109,967 (2017: £150,895) as at the end

of the financial year.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D E Yarrow.