Silverfin false 30/04/2023 01/05/2022 30/04/2023 Richard John Bland 01/05/2019 Stephen Barnabas Leonard-Williams 01/05/2019 01 December 2023 The principal activity of the Company during the financial year was rental services of a commercial property. 11971924 2023-04-30 11971924 bus:Director1 2023-04-30 11971924 bus:Director2 2023-04-30 11971924 2022-04-30 11971924 core:CurrentFinancialInstruments 2023-04-30 11971924 core:CurrentFinancialInstruments 2022-04-30 11971924 core:Non-currentFinancialInstruments 2023-04-30 11971924 core:Non-currentFinancialInstruments 2022-04-30 11971924 core:ShareCapital 2023-04-30 11971924 core:ShareCapital 2022-04-30 11971924 core:RetainedEarningsAccumulatedLosses 2023-04-30 11971924 core:RetainedEarningsAccumulatedLosses 2022-04-30 11971924 core:ImmediateParent core:CurrentFinancialInstruments 2023-04-30 11971924 core:ImmediateParent core:CurrentFinancialInstruments 2022-04-30 11971924 bus:OrdinaryShareClass1 2023-04-30 11971924 2022-05-01 2023-04-30 11971924 bus:FullAccounts 2022-05-01 2023-04-30 11971924 bus:SmallEntities 2022-05-01 2023-04-30 11971924 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 11971924 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11971924 bus:Director1 2022-05-01 2023-04-30 11971924 bus:Director2 2022-05-01 2023-04-30 11971924 2021-05-01 2022-04-30 11971924 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 11971924 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11971924 (England and Wales)

CISW PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

CISW PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

CISW PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2023
CISW PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 1,625,000 1,625,000
1,625,000 1,625,000
Current assets
Debtors 4 30,000 30,000
Cash at bank and in hand 125,474 42,295
155,474 72,295
Creditors: amounts falling due within one year 5 ( 1,748,014) ( 1,613,550)
Net current liabilities (1,592,540) (1,541,255)
Total assets less current liabilities 32,460 83,745
Creditors: amounts falling due after more than one year ( 4,800) 0
Net assets 27,660 83,745
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 27,659 83,744
Total shareholders' funds 27,660 83,745

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of CISW Property Limited (registered number: 11971924) were approved and authorised for issue by the Director on 01 December 2023. They were signed on its behalf by:

Richard John Bland
Director
CISW PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
CISW PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

CISW Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1f Long Acre, Saltash, PL12 6LZ, England, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Leases


The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 May 2022 1,625,000
As at 30 April 2023 1,625,000

Valuation

The 2023 valuations were made by the directors, on an open market value for existing use basis.

4. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 0 30,000
Other debtors 30,000 0
30,000 30,000

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Parent undertakings 0 1,570,832
Accruals and deferred income 19,317 19,317
Taxation and social security 23,865 23,401
Other creditors 1,704,832 0
1,748,014 1,613,550

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 0.01 each (2022: 1 share of £ 1.00 ) 1 1

During the year, the 1 Ordinary share, which had a nominal value of £1 per share, was subdivided into 100 Ordinary shares, with a nominal value of £0.01 per share.

7. Related party transactions

Other related party transactions

2023 2022
£ £
Balance due from fellow subsidiaries 0 30,000
Balance owed to companies in which the Directors have a contolling interest (1,704,832) 0

The company has taken the advantage of the exemption contained in s. 1AC.35 of FRS102, and not disclosed transactions or balances with wholly owned group entities.