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Company Registration No. 12757406 (England and Wales)
CFS South Limited Unaudited accounts for the year ended 31 July 2023
CFS South Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
48,272 
60,466 
Current assets
Debtors
32,846 
11,055 
Cash at bank and in hand
38,401 
86,480 
71,247 
97,535 
Creditors: amounts falling due within one year
(73,918)
(74,416)
Net current (liabilities)/assets
(2,671)
23,119 
Total assets less current liabilities
45,601 
83,585 
Creditors: amounts falling due after more than one year
(36,339)
(46,972)
Provisions for liabilities
Deferred tax
(9,172)
(11,489)
Net assets
90 
25,124 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
88 
25,122 
Shareholders' funds
90 
25,124 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2024 and were signed on its behalf by
M Canning Director Company Registration No. 12757406
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CFS South Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
CFS South Limited is a private company, limited by shares, registered in England and Wales, registration number 12757406. The registered office is 34 Clarence Street, Southend-On-Sea, SS1 1BD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% reducing balance
Computer equipment
25% reducing balance
Leased assets
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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CFS South Limited Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2022
58,440 
2,701 
61,141 
At 31 July 2023
58,440 
2,701 
61,141 
Depreciation
At 1 August 2022
- 
675 
675 
Charge for the year
11,688 
506 
12,194 
At 31 July 2023
11,688 
1,181 
12,869 
Net book value
At 31 July 2023
46,752 
1,520 
48,272 
At 31 July 2022
58,440 
2,026 
60,466 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
2,083 
2,083 
Other debtors
30,763 
8,972 
32,846 
11,055 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
10,633 
9,702 
Taxes and social security
6,592 
1,309 
Other creditors
56,693 
58,552 
Loans from directors
- 
2,868 
Accruals
- 
1,985 
73,918 
74,416 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
36,339 
46,972 
Creditors of £46,972 (2022: £56,674) are secured over the assets to which they relate.
8
Transactions with related parties
Included within creditors due within one year is an amount of £54,203 (2022: £58,483) due to a company in which the directors have significant influence. Interest of 2% per annum being is charged on the outstanding balance.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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