Registered Number 04648650
CLOWNTECH LIMITED
Abbreviated Accounts
31 December 2015
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Investments | 2 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
The significant accounting policies are consistent with those of the accounting policies described in the 2014 annual financial statements and are described below save for the inclusion of investments in subsidiaries at fair value. In accordance with FRS 18 "Accounting Policies" the directors confirm that the most appropriate accounting policies have been used in preparing the abbreviated accounts.
Turnover policy
Valuation information and policy
Other accounting policies
The company is exempted from the requirement to prepare a cash flow statement (in accordance with Financial Reporting Standard No. 1) on the basis of its being a “small company” as defined by the Companies Act 2006.
d) Deferred taxation
Deferred taxation has been recognised as a liability or asset if transactions have occurred at the balance sheet date that give rise to an obligation to pay more taxation, or a right to pay less taxation, in the future which timing differences have originated but not reversed at the balance sheet date. Deferred tax assets are recognised if their recoverability in the foreseeable future is deemed to be probable. An asset is not recognised to the extent that the transfer of economic benefits in the future is uncertain. Any liability to deferred tax is provided at the average rate of tax expected to apply based on tax rates and laws that have been enacted or substantially enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted to reflect the time value of money.
e) Consolidated abbreviated accounts
The company has taken advantage of the exemption in the Companies Act 2006 from the requirement to produce consolidated abbreviated accounts on the basis that the group is a small group. The abbreviated accounts show the results of the company only.
f) Value Added Tax
The company is not registered for Value Added Tax, all expenditure is, where applicable, stated including Value Added Tax.
Joint ventures and joint arrangements
Profits and losses from joint ventures and arrangements are recognised on the accruals basis. The company’s economic interest in the assets and liabilities of joint ventures and arrangements are included in the financial statements as advances to or from joint venture or arrangement partners and are included in debtors or creditors respectively.
2
Fixed assets Investments
£ £
Shares in subsidiary undertakings 3,087,646 1,044,149
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£3,087,646 £1,044,149
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The value of the investment in the associated and subsidiary undertakings based on the net equity method, and their details are as follows:-
Proportion of voters’ rights and shares held
Country of registration and operation Results for the year ended 31st December 2015 Aggregate capital and reserves at 31st December 2015
£ £
Portsdown Mews Limited 50% England £4,659 £4,660
Golders Way Limited 50% England £86,686 £341,687
Greencroft Gardens Limited 50% England £(18,281) £(454,932)
Hillfield Road Limited 50% England £(3,428) £104,436
Ornan Court Limited 45% England £482,906 £1,526,041
Prime Central Properties (Management) Limited
50%
England
£540,579
£630,293
Prime Central Properties Limited*
100%
England
£(16,257)
£(218,161)
Sumatra Road Limited 50% England £1,564 £28,282
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The principal activity of Portsdown Mews Limited is the provision of construction and project management services; property and estate management; finance procuration, and allied activities and property investment.
The principal activity of Ornan Court Limited, Golders Way Limited, Greencroft Gardens Limited, Hillfield Road Limited; Sumatra Road Limited and Prime Central Properties (Management) Limited is property investment. The principial activity of Prime Central Properties Limited is property development. Its figures are based upon the draft financial statements for the year ended, and as at, 31st March 2016.