Company Registration No. 05825652 (England and Wales)
CNS IT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
CNS IT LIMITED
COMPANY INFORMATION
Director
Mr P A Sturgess
Company number
05825652
Registered office
Brynford House
21 Brynford Street
Holywell
Flintshire
United Kingdom
CH8 7RD
Accountants
Azets
Brynford House
21 Brynford Street
Holywell
Flintshire
United Kingdom
CH8 7RD
Business address
10 Telford Court
Chester Gates
Dunkirk
Chester
Cheshire
United Kingdom
CH1 6LT
CNS IT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
CNS IT LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
313,573
311,411
Current assets
Stocks
2,720
2,610
Debtors
4
352,357
394,911
Cash at bank and in hand
488,706
329,044
843,783
726,565
Creditors: amounts falling due within one year
5
(390,540)
(343,479)
Net current assets
453,243
383,086
Total assets less current liabilities
766,816
694,497
Creditors: amounts falling due after more than one year
6
(130,667)
(147,001)
Provisions for liabilities
8
(9,218)
(3,978)
Net assets
626,931
543,518
Capital and reserves
Called up share capital
9
48
48
Capital redemption reserve
1
1
Profit and loss reserves
626,882
543,469
Total equity
626,931
543,518

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

CNS IT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2023
31 May 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 11 October 2023
Mr P A Sturgess
Director
Company Registration No. 05825652
CNS IT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information

CNS IT Limited is a private company limited by shares incorporated in England and Wales. The registered office is Brynford House, 21 Brynford Street, Holywell, Flintshire, United Kingdom, CH8 7RD. The principal place of business is 10 Telford Court, Chester Gates, Dunkirk, Chester, Cheshire, United Kingdom, CH1 6LT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales of services and goods, excluding VAT, except in respect of service contracts where turnover is recognised when the company obtans the right to consideration.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% p.a. straight line
Freehold improvements
10% p.a. straight line
Office equipment
25% p.a. straight line
Fixtures and fittings
25% p.a. straight line
Computers
33% p.a. straight line
Motor vehicles
10% p.a. straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

CNS IT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. As all financial assets are classified as receivable within one year, they are not amortised but carried at face value.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

CNS IT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are carried at face value.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and contnue to be measured at face value.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

CNS IT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
8
6
CNS IT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 7 -
3
Tangible fixed assets
Freehold land and buildings
Freehold improvements
Office equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 June 2022
289,768
21,478
7,830
23,938
123,791
16,564
483,369
Additions
-
0
-
0
-
0
17,104
-
0
-
0
17,104
At 31 May 2023
289,768
21,478
7,830
41,042
123,791
16,564
500,473
Depreciation and impairment
At 1 June 2022
11,859
15,694
7,164
14,971
121,166
1,104
171,958
Depreciation charged in the year
5,795
2,149
505
3,852
985
1,656
14,942
At 31 May 2023
17,654
17,843
7,669
18,823
122,151
2,760
186,900
Carrying amount
At 31 May 2023
272,114
3,635
161
22,219
1,640
13,804
313,573
At 31 May 2022
277,909
5,784
666
8,967
2,625
15,460
311,411
CNS IT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 8 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
331,642
359,322
Other debtors
19,000
30,287
Prepayments and accrued income
1,715
5,302
352,357
394,911
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
16,333
16,333
Trade creditors
120,567
72,287
Taxation and social security
133,435
151,875
Other creditors
120,205
102,984
390,540
343,479
6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
7
130,667
147,001
7
Loans and overdrafts
2023
2022
£
£
Bank loans
147,000
163,334
Payable within one year
16,333
16,333
Payable after one year
130,667
147,001

The long-term loans are secured by fixed charges over 10 Telford Court, Chester Gate, Dunkirk, Chester. CH1 6LT

8
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
9,218
3,978
CNS IT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 9 -
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Class A Ordinary shares of £1 each
45
45
45
45
Class B Ordinary shares of £1 each
3
3
3
3
48
48
48
48
2023-05-312022-06-01false11 October 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr P A Sturgessfalse058256522022-06-012023-05-3105825652bus:Director12022-06-012023-05-3105825652bus:RegisteredOffice2022-06-012023-05-31058256522023-05-31058256522022-05-3105825652core:LandBuildingscore:OwnedOrFreeholdAssets2023-05-3105825652core:LeaseholdImprovements2023-05-3105825652core:PlantMachinery2023-05-3105825652core:FurnitureFittings2023-05-3105825652core:ComputerEquipment2023-05-3105825652core:MotorVehicles2023-05-3105825652core:LandBuildingscore:OwnedOrFreeholdAssets2022-05-3105825652core:LeaseholdImprovements2022-05-3105825652core:PlantMachinery2022-05-3105825652core:FurnitureFittings2022-05-3105825652core:ComputerEquipment2022-05-3105825652core:MotorVehicles2022-05-3105825652core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3105825652core:CurrentFinancialInstrumentscore:WithinOneYear2022-05-3105825652core:Non-currentFinancialInstrumentscore:AfterOneYear2023-05-3105825652core:Non-currentFinancialInstrumentscore:AfterOneYear2022-05-3105825652core:CurrentFinancialInstruments2023-05-3105825652core:CurrentFinancialInstruments2022-05-3105825652core:ShareCapital2023-05-3105825652core:ShareCapital2022-05-3105825652core:CapitalRedemptionReserve2023-05-3105825652core:CapitalRedemptionReserve2022-05-3105825652core:RetainedEarningsAccumulatedLosses2023-05-3105825652core:RetainedEarningsAccumulatedLosses2022-05-3105825652core:ShareCapitalOrdinaryShares2023-05-3105825652core:ShareCapitalOrdinaryShares2022-05-3105825652core:LandBuildingscore:OwnedOrFreeholdAssets2022-06-012023-05-3105825652core:LeaseholdImprovements2022-06-012023-05-3105825652core:PlantMachinery2022-06-012023-05-3105825652core:FurnitureFittings2022-06-012023-05-3105825652core:ComputerEquipment2022-06-012023-05-3105825652core:MotorVehicles2022-06-012023-05-31058256522021-06-012022-05-3105825652core:LandBuildingscore:OwnedOrFreeholdAssets2022-05-3105825652core:LeaseholdImprovements2022-05-3105825652core:PlantMachinery2022-05-3105825652core:FurnitureFittings2022-05-3105825652core:ComputerEquipment2022-05-3105825652core:MotorVehicles2022-05-31058256522022-05-3105825652core:Non-currentFinancialInstruments2023-05-3105825652core:Non-currentFinancialInstruments2022-05-3105825652bus:PrivateLimitedCompanyLtd2022-06-012023-05-3105825652bus:SmallCompaniesRegimeForAccounts2022-06-012023-05-3105825652bus:FRS1022022-06-012023-05-3105825652bus:AuditExemptWithAccountantsReport2022-06-012023-05-3105825652bus:FullAccounts2022-06-012023-05-31xbrli:purexbrli:sharesiso4217:GBP