REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
for |
1 CSG Limited |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
for the Year Ended 31 May 2023 |
for |
1 CSG Limited |
1 CSG Limited (Registered number: 05818267) |
Contents of the Financial Statements |
for the Year Ended 31 May 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
Chartered Accountants' Report | 10 |
1 CSG Limited |
Company Information |
for the Year Ended 31 May 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
T/AS Sadler Davies & Co |
Chartered Accountants |
3 Enterprise House |
8 Essex Road |
Dartford |
Kent |
DA1 2AU |
1 CSG Limited (Registered number: 05818267) |
Report of the Directors |
for the Year Ended 31 May 2023 |
The directors present their report with the financial statements of the company for the year ended 31 May 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of Image rights and related activities including property investment. |
DIVIDENDS |
Interim dividends per share were paid during the year as follows: |
B £1 | - | £ |
- 31 March 2023 |
C £1 | - | £ |
- 31 March 2023 |
The total distribution of dividends for the year ended 31 May 2023 will be £ |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 June 2022 to the date of this report. |
ON BEHALF OF THE BOARD: |
1 CSG Limited (Registered number: 05818267) |
Balance Sheet |
31 May 2023 |
31.5.23 | 31.5.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Investments | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
1 CSG Limited (Registered number: 05818267) |
Balance Sheet - continued |
31 May 2023 |
31.5.23 | 31.5.22 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Revaluation reserve | 13 | 368,531 | 545,433 |
Retained earnings | 13 | 1,246,266 | 1,066,398 |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
1 CSG Limited (Registered number: 05818267) |
Notes to the Financial Statements |
for the Year Ended 31 May 2023 |
1. | STATUTORY INFORMATION |
1 CSG Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
1 CSG Limited (Registered number: 05818267) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 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 AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Equipment |
£ |
COST |
At 1 June 2022 |
and 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
1 CSG Limited (Registered number: 05818267) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2022 |
and 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
Fair value at 31 May 2023 is represented by: |
£ |
Valuation in 2016 | 25,627 |
Valuation in 2017 | 432,000 |
Valuation in 2019 | 3,000 |
Cost | 1,874,373 |
2,335,000 |
If the investment properties had not been revalued they would have been included at the following historical cost: |
31.5.23 | 31.5.22 |
£ | £ |
Cost | 1,874,373 | 1,874,373 |
Investment properties were valued on an open market basis on 31 May 2017 by Fergusson Law . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Trade debtors |
8. | CURRENT ASSET INVESTMENTS |
31.5.23 | 31.5.22 |
£ | £ |
Listed investments | - | 425,130 |
1 CSG Limited (Registered number: 05818267) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Taxation and social security |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
157 M-side, 1 Leven B, 23 LivB | 387,735 | 387,735 |
Loan- 82 Mansefield | 118,597 | 118,597 |
Loan- 120a Fauldburn | 110,000 | 110,000 |
616,332 | 616,332 |
11. | PROVISIONS FOR LIABILITIES |
31.5.23 | 31.5.22 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred tax on revaluation | 92,095 | 132,725 |
92,113 | 132,746 |
1 CSG Limited (Registered number: 05818267) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
11. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 June 2022 |
Credit to Statement of Income and Retained Earnings during year |
( |
) |
Property revaluation |
Disposal of investments | (40,629 | ) |
Balance at 31 May 2023 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.23 | 31.5.22 |
value: | £ | £ |
A | £1 | 2 | 2 |
B | £1 | 2 | 2 |
C | £1 | 1 | 1 |
5 | 5 |
13. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 June 2022 | 1,611,831 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Non distributable revaluation | - | (176,902 | ) | (176,902 | ) |
At 31 May 2023 | 1,614,797 |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
1 CSG Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 1 CSG Limited for the year ended 31 May 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of 1 CSG Limited, as a body, in accordance with the terms of our engagement letter dated 21 May 2007. Our work has been undertaken solely to prepare for your approval the financial statements of 1 CSG Limited and state those matters that we have agreed to state to the Board of Directors of 1 CSG Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 1 CSG Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that 1 CSG Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 1 CSG Limited. You consider that 1 CSG Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of 1 CSG Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
T/AS Sadler Davies & Co |
Chartered Accountants |
3 Enterprise House |
8 Essex Road |
Dartford |
Kent |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
1 CSG Limited |
DA1 2AU |