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Registration number: 02042001

C.S.Property Co Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

C.S.Property Co Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

C.S.Property Co Limited

Company Information

Directors

Mr G L Capel

Mr S A Capel

Company secretary

Mrs B L Capel

Registered office

Nyes Place
Rusper Road
Newdigate
Surrey
RH5 5BX

Accountants

Andrews & O'Shea Ltd
Optima House
Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
C.S.Property Co Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of C.S.Property Co Limited for the year ended 31 March 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of C.S.Property Co Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of C.S.Property Co Limited and state those matters that we have agreed to state to the Board of Directors of C.S.Property Co Limited, as a body, in this report and for no other reason. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C.S.Property Co Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that C.S.Property Co Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of C.S.Property Co Limited. You consider that C.S.Property Co 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 accounts of C.S.Property Co 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 accounts.

......................................

Andrews & O'Shea Ltd
Optima House
Mill Court
Spindle Way
Crawley
West Sussex
RH10 1TT

9 August 2024

 

C.S.Property Co Limited

(Registration number: 02042001)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

346,078

346,078

Current assets

 

Cash at bank and in hand

 

1,392

5,295

Creditors: Amounts falling due within one year

5

(151,084)

(157,987)

Net current liabilities

 

(149,692)

(152,692)

Net assets

 

196,386

193,386

Capital and reserves

 

Called up share capital

100

100

Capital redemption reserve

42,141

42,141

Revaluation reserve

(236,000)

(236,000)

Retained earnings

390,145

387,145

Shareholders' funds

 

196,386

193,386

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 9 August 2024 and signed on its behalf by:
 

.........................................
Mr G L Capel
Director

 

C.S.Property Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Nyes Place
Rusper Road
Newdigate
Surrey
RH5 5BX

These financial statements were authorised for issue by the Board on 9 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The company has trading losses of £35,524 (2023 - £38,524) to offset against future trading profits.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

C.S.Property Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

Over 50 years

Leasehold land and buildings

Over the lease term

Plant and machinery

20% per annum on a straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

C.S.Property Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

346,078

1,390

347,468

At 31 March 2024

346,078

1,390

347,468

Depreciation

At 1 April 2023

-

1,390

1,390

At 31 March 2024

-

1,390

1,390

Carrying amount

At 31 March 2024

346,078

-

346,078

At 31 March 2023

346,078

-

346,078

Included within the net book value of land and buildings above is £346,078 (2023 - £346,078) in respect of freehold land and buildings.
 

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

7,983

14,298

Accruals and deferred income

 

1,100

1,100

Other creditors

 

142,001

142,589

 

151,084

157,987

6

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

7,983

14,298

 

C.S.Property Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Other payments made to company by director
£

At 31 March 2024
£

Mr G L Capel

Interest free loan

(14,298)

7,386

(1,072)

(7,983)

2023

At 1 April 2022
£

Advances to director
£

Other payments made to company by director
£

At 31 March 2023
£

Mr G L Capel

Interest free loan

(17,931)

6,195

(2,562)

(14,298)