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REGISTERED NUMBER: 02553915 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

C T S (TAMWORTH) LIMITED

C T S (TAMWORTH) LIMITED (REGISTERED NUMBER: 02553915)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C T S (TAMWORTH) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mrs I J Smith
P Smith
Mrs E A Fletcher





SECRETARY: Mrs I J Smith





REGISTERED OFFICE: The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB





REGISTERED NUMBER: 02553915 (England and Wales)





ACCOUNTANTS: Philip Barnes & Co Limited
Chartered Accountants
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

C T S (TAMWORTH) LIMITED (REGISTERED NUMBER: 02553915)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 141 187
Investments 6 1,737,746 1,703,511
Investment property 7 2,200,000 2,200,000
3,937,887 3,903,698

CURRENT ASSETS
Debtors 8 575,321 566,467
Cash at bank and in hand 228,518 102,539
803,839 669,006
CREDITORS
Amounts falling due within one year 9 116,422 133,532
NET CURRENT ASSETS 687,417 535,474
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,625,304

4,439,172

PROVISIONS FOR LIABILITIES 109,000 87,000
NET ASSETS 4,516,304 4,352,172

CAPITAL AND RESERVES
Called up share capital 10 300 300
Revaluation reserve 11 651,449 651,449
Retained earnings 3,864,555 3,700,423
SHAREHOLDERS' FUNDS 4,516,304 4,352,172

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

C T S (TAMWORTH) LIMITED (REGISTERED NUMBER: 02553915)

BALANCE SHEET - continued
30 JUNE 2023



The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2023 and were signed on its behalf by:





P Smith - Director


C T S (TAMWORTH) LIMITED (REGISTERED NUMBER: 02553915)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

C T S (Tamworth) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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 the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Turnover
Turnover represents net invoiced rents receivable, excluding value added tax, for the accounting period. Rents invoiced in advance are recorded as deferred income and are included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% - 33% on cost
Motor vehicles - 25% reducing balance

Investment property
Investment property is included at market fair value. Changes in fair value are recognised in the profit and loss account. Deferred taxation is provided on gains at the rate expected to apply when the property is sold.

Financial assets
Investments are included at fair value. Changes in fair value are recognised in the profit and loss account. Deferred taxation is provided on gains at the rate expected to apply when the investment is sold.

Fair value changes in respect of readily marketable securities are treated as distributable reserves.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


C T S (TAMWORTH) LIMITED (REGISTERED NUMBER: 02553915)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES

The average number of employees during the year was 2 (2022 - NIL ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 1,221 7,737 8,958
DEPRECIATION
At 1 July 2022 1,221 7,550 8,771
Charge for year - 46 46
At 30 June 2023 1,221 7,596 8,817
NET BOOK VALUE
At 30 June 2023 - 141 141
At 30 June 2022 - 187 187

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 July 2022 1,703,511
Additions 762,383
Disposals (688,328 )
Changes to fair value (39,820 )
At 30 June 2023 1,737,746
NET BOOK VALUE
At 30 June 2023 1,737,746
At 30 June 2022 1,703,511

C T S (TAMWORTH) LIMITED (REGISTERED NUMBER: 02553915)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. FIXED ASSET INVESTMENTS - continued


7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 2,200,000
NET BOOK VALUE
At 30 June 2023 2,200,000
At 30 June 2022 2,200,000


8. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 18,534 14,358
Other debtors 453,164 448,486
471,698 462,844

Amounts falling due after more than one year:
Other debtors 103,623 103,623

Aggregate amounts 575,321 566,467

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,000 2,059
Taxation and social security 29,191 11,605
Other creditors 85,231 119,868
116,422 133,532

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 'A' Ordinary £1 200 200
100 'B' Ordinary £1 100 100
300 300

C T S (TAMWORTH) LIMITED (REGISTERED NUMBER: 02553915)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

11. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 651,449

Retained earnings include non-distributable reserves of £595,869 (2022 - £595,869).

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors is £309,059 (2022 - £317,902) due from a director. Interest, calculated using the official beneficial loan rate.