Clownalley Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06046833 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2018

FOR

CLOWNALLEY LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Williams

REGISTERED OFFICE:

North Star House

11 London Road

Bromley

BR11BY

REGISTERED NUMBER:

06046833 (England and Wales)

ACCOUNTANTS:

Burrells Accountancy Limited

Jubilee House

Jubilee Court

Dersingham

King's Lynn

Norfolk

PE31 6HH

BANKERS:

Royal Bank of Scotland

Bromley Branch

12 Elmfield Road

Bromley

Kent

BR1 1LP

FIXED ASSETS

Investment property

3

1,060,000

-

CURRENT ASSETS

Cash at bank

17,342

-

CREDITORS

Amounts falling due within one year

614,547

-

NET CURRENT LIABILITIES

(597,205

)

-

TOTAL ASSETS LESS CURRENT LIABILITIES

462,795

-

CREDITORS

Amounts falling due after more than one year

454,061

-

NET ASSETS

8,734

-

CAPITAL AND RESERVES

Called up share capital

100

-

Retained earnings

8,634

-

8,734

-

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2018 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 on 7 December 2018 and were signed 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 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.

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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

1,060,000

At 31 August 2018

1,060,000

NET BOOK VALUE

At 31 August 2018

1,060,000

4.

LOANS

An analysis of the maturity of loans is given below:

31.8.18

31.8.17

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

454,061

-

5.	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.

The company purchased investment property from North Star (2000) Limited at market value

amounting to £1,060,000. As at 31 August 2018 the company owed to North Star (2000) Limited

£610,091 in respect of loan advances. The balance is repayable on demand.