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Registration number: 08094240

CIS Division Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2023

 

CIS Division Ltd

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

CIS Division Ltd

Company Information

Directors

A Petrenko

Mrs Maria Biryuleva

Registered office

Cart House 2
Copley Hill Business Park
Cambridge Road
Babraham
Cambridge
CB22 3GN

Accountants

Tim Phillips & Co Ltd
Accountants
Cart House 2
Copley Hill Business Park
Cambridge Road
Babraham
Cambridge
CB22 3GN

 

CIS Division Ltd

Directors' Report for the Year Ended 31 May 2023

The directors present their report and the financial statements for the year ended 31 May 2023.

Directors of the company

The directors who held office during the year were as follows:

A Petrenko

Mrs Maria Biryuleva

Principal activity

The principal activity of the company is reselling of licences for cloud video

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 27 November 2023 and signed on its behalf by:
 

.........................................
Mrs Maria Biryuleva
Director

 

CIS Division Ltd

(Registration number: 08094240)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

4

40,158

40,158

Current assets

 

Cash at bank and in hand

 

1,210,615

709,809

Creditors: Amounts falling due within one year

5

(471,477)

(291,367)

Net current assets

 

739,138

418,442

Net assets

 

779,296

458,600

Capital and reserves

 

Called up share capital

6

10

10

Share premium reserve

49,685

49,685

Retained earnings

729,601

408,905

Shareholders' funds

 

779,296

458,600

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 November 2023 and signed on its behalf by:
 

.........................................
Mrs Maria Biryuleva
Director

 

CIS Division Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

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

The address of its registered office is:
Cart House 2
Copley Hill Business Park
Cambridge Road
Babraham
Cambridge
CB22 3GN

These financial statements were authorised for issue by the Board on 27 November 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern 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 that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

CIS Division Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Tax

The tax expense for the period comprises current 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 income 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

CIS Division Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 June 2022

40,158

40,158

At 31 May 2023

40,158

40,158

Impairment

Carrying amount

At 31 May 2023

40,158

40,158

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

410,100

272,855

Taxation and social security

58,628

16,263

Accruals and deferred income

2,750

2,250

Other creditors

(1)

(1)

471,477

291,367

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

Ordinary of £1 each

9

9

9

9

 

10

10

10

10

 

CIS Division Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

7

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £Nil (2022 - £100,000.00) per ordinary share

 

-

 

100,000