C S P 35 Limited - Period Ending 2021-03-31

C S P 35 Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

C S P 35 Limited

Balance Sheet

31 March 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	1,438,859	1,438,859
Current assets
Cash at bank and in hand		968	2,166
Creditors: Amounts falling due within one year	5	(1,801)	(310,156)
Net current liabilities		(833)	(307,990)
Total assets less current liabilities		1,438,026	1,130,869
Creditors: Amounts falling due after more than one year	5	(1,529,104)	(1,209,599)
Net liabilities		(91,078)	(78,730)
Capital and reserves
Called up share capital		2	2
Profit and loss account		(91,080)	(78,732)
Shareholders' deficit		(91,078)	(78,730)

C S P 35 Limited

Balance Sheet

31 March 2021

For the financial year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 March 2022 and signed on its behalf by:
 

......................................... Mr C C Stott Director

Company Registration Number: 08924982

C S P 35 Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2021

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Towngate House
2-8 Parkstone Road
Poole
BH15 2PW

The principal place of business is:
13 Canford Cliffs Avenue
Poole
Dorset
BH14 9QN

These financial statements were authorised for issue by the Board on 29 March 2022.

2	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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including Section 1A 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.

These financial statements have been prepared using British pound sterling and rounded to the nearest whole pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

C S P 35 Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2021

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investment property

Investment properties are carried at historic cost. In the opinion of the directors, an open market valuation of the properties would require undue cost and effort and would not provide sufficient additional useful information to the primary users of the financial statements to make this worthwhile. This is regarded as a significant judgement

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

C S P 35 Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2021

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2020 - 0).

C S P 35 Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2021

4	Tangible assets

	Land and buildings £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2020	1,431,871	6,988	1,438,859
At 31 March 2021	1,431,871	6,988	1,438,859
Depreciation
Carrying amount
At 31 March 2021	1,431,871	6,988	1,438,859
At 31 March 2020	1,431,871	6,988	1,438,859

5

Creditors

Creditors: amounts falling due within one year

	2021  £	2020  £
Due within one year
Other creditors	1	308,356
Accrued expenses	1,800	1,800
	1,801	310,156

Creditors: amounts falling due after more than one year

	Note	2021 £	2020 £
Due after one year
Loans and borrowings	6	1,529,104	1,209,599

Creditors include bank loans and overdrafts which are secured of £791,035 (2020 - £791,035).

6	Loans and borrowings

	2021 £	2020 £
Loans and borrowings due after one year
Bank borrowings	1,209,599	1,209,599
Other borrowings	319,505	-
	1,529,104	1,209,599