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REGISTERED NUMBER: 00696590 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

CBSM 2012 LIMITED

CBSM 2012 LIMITED (REGISTERED NUMBER: 00696590)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CBSM 2012 LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: H Carter
J Burch
C Pinn





REGISTERED OFFICE: 1 Cedar House
Brook Road
Budleigh Salterton
United Kingdom
EX9 6BB





REGISTERED NUMBER: 00696590 (England and Wales)





ACCOUNTANTS: Haines Watts
3 Southernhay West
Exeter
Devon
EX1 1JG

CBSM 2012 LIMITED (REGISTERED NUMBER: 00696590)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 52,538 53,852
Investment properties 6 4,750,000 4,750,000
4,802,538 4,803,852

CURRENT ASSETS
Debtors 7 69,217 54,810
Cash at bank and in hand 244,165 162,010
313,382 216,820
CREDITORS
Amounts falling due within one year 8 (69,568 ) (97,826 )
NET CURRENT ASSETS 243,814 118,994
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,046,352

4,922,846

PROVISIONS FOR LIABILITIES (776,187 ) (776,187 )
NET ASSETS 4,270,165 4,146,659

CAPITAL AND RESERVES
Called up share capital 250 250
Share premium 9 19,550 19,550
Capital redemption reserve 9 250 250
Retained earnings 9 4,250,115 4,126,609
4,270,165 4,146,659

CBSM 2012 LIMITED (REGISTERED NUMBER: 00696590)

Balance Sheet - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2024 and were signed on its behalf by:





H Carter - Director


CBSM 2012 LIMITED (REGISTERED NUMBER: 00696590)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. COMPANY INFORMATION

CBSM 2012 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.

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


The company's principal activities and nature of its operations are disclosed in the Directors' Report.

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.

Turnover
Turnover represents amounts receivable by the company for services provided regarding property development, servicing, management and caretaking.

Other income includes rent receivable from investment properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost

Investment properties
Investment properties are measured at fair value at each reporting date, with changes in fair value recognised in profit or loss.

The investment property fair value of £4,750,000 was determined by the directors by reference to current market prices for comparable property.

CBSM 2012 LIMITED (REGISTERED NUMBER: 00696590)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents 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 current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.


Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

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.

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.

CBSM 2012 LIMITED (REGISTERED NUMBER: 00696590)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 April 2023
and 31 March 2024 65,678
DEPRECIATION
At 1 April 2023 11,826
Charge for year 1,314
At 31 March 2024 13,140
NET BOOK VALUE
At 31 March 2024 52,538
At 31 March 2023 53,852

6. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 4,750,000
NET BOOK VALUE
At 31 March 2024 4,750,000
At 31 March 2023 4,750,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2012 2,412,424
Valuation in 2018 420,412
Valuation in 2023 575,000
Cost 1,342,164
4,750,000

The directors have assessed the fair value of the properties as at 31 March 2024 and confirms no significant change from the previous years valuation.

CBSM 2012 LIMITED (REGISTERED NUMBER: 00696590)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 42,420 33,087
Other debtors 19,711 21,723
62,131 54,810

Amounts falling due after more than one year:
Other debtors 7,086 -

Aggregate amounts 69,217 54,810

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 12,110 14,037
Taxation and social security 51,948 78,451
Other creditors 5,510 5,338
69,568 97,826

9. RESERVES






Retained
earnings
Investment
property
revaluation
reserve



Totals
£££

As at 31 March 20231,494,9602,631,6494,126,609
Property revaluation--
Profit for the year153,506-153,506
Deferred tax charge---
Dividend(30,000)-(30,000)
As at 31 March 20241,618,4662,631,6494,250,115

Disclosed above are the cumulative effect of the investment properties gains and losses as a separate component of shareholders' funds, the investment property revaluation reserve. This is to clearly distinguish between the distributable retained earnings reserves, and the non-distributable investment property revaluation reserves.