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REGISTERED NUMBER: 12835487 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

CHOICES CPO 1 LTD

CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 8


CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 349 524
Investments 5 160,816 128,237
161,165 128,761

CURRENT ASSETS
Debtors: amounts falling due within one
year

6

797,822

374,024
Debtors: amounts falling due after more
than one year

6

698,616

915,258
Cash at bank 4,450 10,859
1,500,888 1,300,141
CREDITORS
Amounts falling due within one year 7 (459,711 ) (172,941 )
NET CURRENT ASSETS 1,041,177 1,127,200
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,202,342

1,255,961

CREDITORS
Amounts falling due after more than one
year

8

(1,149,996

)

(1,152,147

)
NET ASSETS 52,346 103,814

CAPITAL AND RESERVES
Called up share capital 150,000 150,000
Retained earnings (97,654 ) (46,186 )
SHAREHOLDERS' FUNDS 52,346 103,814

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 April 2024 and were signed by:





A Atherden-Zuk - Director


CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Choices CPO 1 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12835487

Registered office: Suite 1 11th Floor
Arrive, Blue Building
Mediacityuk
Salford Quays
M50 2ST

The principal activity of the company is that of financial intermediation.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£) which is also the functional currency.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Choices CPO 1 Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reports. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are set out in the policies below:

There are no judgements included within the financial statements.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are set out below:

There are no key sources of estimation uncertainty.

CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


2. ACCOUNTING POLICIES - continued

GOING CONCERN
Choices CPO 1 Ltd continues to have greater assets than liabilities and benefits from the continued support of the Directors, regular repayments from borrowers and new avenues of inbound large investment incoming underway. Additionally recoveries from ongoing legals are imminent in the next few months and thereafter.

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

REVENUE RECOGNITION
Revenue is recognised at the point the right to consideration accrues through the performance of each distinct company service. The services provided are contractual and the costs of the service are incurred as the service is rendered.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% straight line

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.


CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

EMPLOYEE BENEFITS
The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expenses in the profit and loss account in the period in which they are incurred.

INTEREST RECEIVABLE AND INTEREST PAYABLE
Interest receivable on financial instrument obligations and interest payable on unlisted bonds issued by the Company are recognised on an accruals basis at the effective interest rate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2022
and 31 August 2023 699
DEPRECIATION
At 1 September 2022 175
Charge for year 175
At 31 August 2023 350
NET BOOK VALUE
At 31 August 2023 349
At 31 August 2022 524

CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 September 2022 71,000 57,237 128,237
Additions 32,001 578 32,579
At 31 August 2023 103,001 57,815 160,816
NET BOOK VALUE
At 31 August 2023 103,001 57,815 160,816
At 31 August 2022 71,000 57,237 128,237

6. DEBTORS
31.8.23 31.8.22
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 14,836 -
Loans 701,048 281,914
Deferred tax asset 17,622 31,913
Prepayments 64,316 60,197
797,822 374,024

Amounts falling due after more than one year:
Loans 563,210 728,362
Prepayments and accrued income 135,406 186,896
698,616 915,258

Aggregate amounts 1,496,438 1,289,282

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 72,814 33,996
Amounts owed to group undertakings 177,737 58,722
Tax - 11,574
Other creditors 74,150 21,491
Other borrowings 125,010 26,158
Accruals and deferred income 10,000 21,000
459,711 172,941

Other borrowings totalling £125,010 represent loans repayable in full by January 2024, February 2024, and August 2024.

CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Unlisted bonds 1,117,211 1,097,147
Other borrowings 32,785 55,000
1,149,996 1,152,147

Other borrowings totalling £32,785 represent 2 loans repayable in full by December 2026. One private loan amounting to £30,000 bears weekly interest at a rate of 0.5%. The second private loan amounting to £25,000 bears weekly interest at a rate of 1%.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.23 31.8.22
£    £   
Within one year 10,560 8,000

10. DEFERRED TAX
£   
Balance at 1 September 2022 (31,913 )
Charge to Statement of Income and Retained Earnings during year 14,291
Balance at 31 August 2023 (17,622 )

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Helen Tidyman (Senior Statutory Auditor)
for and on behalf of DPC Accountants Ltd

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year ended 31 August 2023, advances of £156,737 (2022: £367,608) were made by the director. Repayments of £173,192 (2022: £437,775) were made during the year by the director and the maximum overdrawn amount outstanding by the director was £35,806 (2022: £49,238) which was fully repaid in the year.

At the year end, the company owed the director £37,946 (2022: £21,491).

13. DIRECTORS' TRANSACTIONS

All transactions with the director were in the normal course of business.

14. POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statement by the board.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Alexander Atherden-Zuk.

CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


16. GOING CONCERN

Choices CPO 1 Ltd continues to have greater assets than liabilities and benefits from the continued support of the Directors, regular repayments from borrowers and new avenues of inbound large investment incoming underway. Additionally recoveries from ongoing legals are imminent in the next few months and thereafter.

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.