Registration number: 09043133

CT 365 Business Services Limited

Contents

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

CT 365 Business Services Limited

(Registration number: 09043133)
Abridged Balance Sheet as at 31 May 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	28,872	30,686
Current assets
Debtors		152,817	128,543
Cash at bank and in hand		708	505
		153,525	129,048
Creditors: Amounts falling due within one year	5	(131,384)	(102,509)
Net current assets		22,141	26,539
Total assets less current liabilities		51,013	57,225
Creditors: Amounts falling due after more than one year	6	(49,628)	(51,322)
Provisions for liabilities		(4,423)	(4,748)
Net (liabilities)/assets		(3,038)	1,155
Capital and reserves
Called up share capital		100	100
Profit and loss account		(3,138)	1,055
Total equity		(3,038)	1,155

For the financial year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

	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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 3 October 2023 and signed on its behalf by:
 

Mr C J Kaye

Director

CT 365 Business Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2022

1	General information

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

The address of its registered office is:
Bramble Barn
Washdale Lane
Stone
Staffordshire
ST15 8UU
England

These financial statements were authorised for issue by the Board on 3 October 2023.

2	Accounting policies

Statement of compliance

These abridged financial statements were 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 abridged 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.

Going concern

The directors are unable to meet the liabilities of the company and therefore financial statements have been prepared on a break-up basis.

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

CT 365 Business Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2022

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	20% reducing balance
Motor vehicles	25% reducing balance
Land and buildings	2% straight line

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

4	Tangible assets

	Total £
Cost or valuation
At 1 June 2021	34,067
At 31 May 2022	34,067
Depreciation
At 1 June 2021	3,381
Charge for the year	1,814
At 31 May 2022	5,195
Carrying amount
At 31 May 2022	28,872
At 31 May 2021	30,686

5	Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £992 (2021 - £992l).

6	Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £1,240 (2021 - £1,322).

7	Related party transactions

Advances to directors Mr C Kaye During the period Mr C Kaye went overdrawn on their directors loan account. The maximum overdrawn balance during the year was £128,876 (2021 - £210,306). At the year end the amount outstanding from Mr C Kaye was £83,021 (2021 - £128,545). Interest has been charged at the commercial rate.