C S P 35 Limited - Period Ending 2017-03-31

C S P 35 Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2017

Registration number: 08924982

C S P 35 Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 5

C S P 35 Limited

Balance Sheet

31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	3	685,041	6,988
Investment property		-	678,053
		685,041	685,041
Current assets
Cash at bank and in hand		5,775	10,207
Creditors: Amounts falling due within one year	4	(300,276)	(297,863)
Net current liabilities		(294,501)	(287,656)
Total assets less current liabilities		390,540	397,385
Creditors: Amounts falling due after more than one year	4	(376,925)	(396,425)
Net assets		13,615	960
Capital and reserves
Called up share capital		2	2
Profit and loss account		13,613	958
Total equity		13,615	960

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 1

C S P 35 Limited

Balance Sheet

31 March 2017

For the financial year ending 31 March 2017 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 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.

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.

Approved and authorised by the Board on 18 December 2017 and signed on its behalf by:
 

 

Mr C C Stott

Director

Company Registration Number: 08924982

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

C S P 35 Limited

Notes to the Financial Statements

Year Ended 31 March 2017

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 18 December 2017.

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 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.

Change in basis of accounting

The company's financial statements have been prepared in accordance with FRS102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland. The company has transferred from previously extant UK GAAP to FRS102 as at 01 April 2015.

Tangible assets

Tangible assets are stated in the statement of financial position 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 property is carried at historic cost, which is not in accordance with FRS 102.

Page 3

C S P 35 Limited

Notes to the Financial Statements

Year Ended 31 March 2017

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.


 

3	Tangible assets

	Land and buildings £	Property improvements  £	Total £
Cost or valuation
At 1 April 2016	678,053	6,988	685,041
At 31 March 2017	678,053	6,988	685,041
Depreciation
Carrying amount
At 31 March 2017	678,053	6,988	685,041
At 31 March 2016	-	6,988	6,988

Page 4

C S P 35 Limited

Notes to the Financial Statements

Year Ended 31 March 2017

4

Creditors

	Note	2017  £	2016  £
Due within one year
Other creditors		296,260	296,261
Accrued expenses		864	1,363
Corporation tax		3,152	239
		300,276	297,863
Due after one year
Loans and borrowings	5	376,925	396,425

5	Loans and borrowings

	2017 £	2016 £
Non-current loans and borrowings
Bank borrowings	376,925	396,425

6	Transition to FRS 102

This is the first year that the accounts have been prepared under FRS 102, however, this has not affected the financial position of the comparative figures.

Page 5