Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3122023-01-01falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03234112 2023-01-01 2023-12-31 03234112 2022-01-01 2022-12-31 03234112 2023-12-31 03234112 2022-12-31 03234112 c:CompanySecretary1 2023-01-01 2023-12-31 03234112 c:Director1 2023-01-01 2023-12-31 03234112 c:Director2 2023-01-01 2023-12-31 03234112 c:RegisteredOffice 2023-01-01 2023-12-31 03234112 d:FreeholdInvestmentProperty 2023-12-31 03234112 d:FreeholdInvestmentProperty 2022-12-31 03234112 d:CurrentFinancialInstruments 2023-12-31 03234112 d:CurrentFinancialInstruments 2022-12-31 03234112 d:Non-currentFinancialInstruments 2023-12-31 03234112 d:Non-currentFinancialInstruments 2022-12-31 03234112 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03234112 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03234112 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03234112 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03234112 d:ShareCapital 2023-12-31 03234112 d:ShareCapital 2022-12-31 03234112 d:RetainedEarningsAccumulatedLosses 2023-12-31 03234112 d:RetainedEarningsAccumulatedLosses 2022-12-31 03234112 c:FRS102 2023-01-01 2023-12-31 03234112 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03234112 c:FullAccounts 2023-01-01 2023-12-31 03234112 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03234112 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 03234112







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


CIBI INVESTMENTS LIMITED






































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CIBI INVESTMENTS LIMITED
 


 
COMPANY INFORMATION


Directors
W A Harkness 
T J Harkness 




Company secretary
W A Harkness



Registered number
03234112



Registered office
2nd Floor
Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP




Accountants
Menzies LLP
Chartered Accountants

2nd Floor

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


CIBI INVESTMENTS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 4


 


CIBI INVESTMENTS LIMITED
REGISTERED NUMBER:03234112



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
8,000,000
8,000,000

  
8,000,000
8,000,000

Current assets
  

Debtors: amounts falling due within one year
 5 
2,781,181
4,102,001

Cash at bank and in hand
  
54,901
284,651

  
2,836,082
4,386,652

Creditors: amounts falling due within one year
 6 
(214,919)
(5,617,251)

Net current assets/(liabilities)
  
 
 
2,621,163
 
 
(1,230,599)

Total assets less current liabilities
  
10,621,163
6,769,401

Creditors: amounts falling due after more than one year
 7 
(4,344,783)
-

  

Net assets
  
6,276,380
6,769,401


Capital and reserves
  

Called up share capital 
  
150
150

Profit and loss account
  
6,276,230
6,769,251

  
6,276,380
6,769,401


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

W A Harkness
Director
Date: 20 September 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 


CIBI INVESTMENTS LIMITED
 


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

1.


General information

Cibi Investments Limited is a private company limited by shares and is incorporated in England and Wales. The trading address is 49 St James Street, London, SW1A 1JT.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is generated by rental and related income and is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. 
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Page 2

 


CIBI INVESTMENTS LIMITED
 


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

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
8,000,000



At 31 December 2023
8,000,000

The investment property was valued by the directors on 31 December 2023 as at fair value. In forming their opinion, the directors have considered professional valuations received. 







5.


Debtors

2023
2022
£
£


Trade debtors
179,741
168,061

Amounts owed by group undertakings
969,886
1,469,886

Other debtors
1,596,022
2,425,944

Prepayments and accrued income
35,532
38,110

2,781,181
4,102,001



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
-
4,525,908

Trade creditors
36,906
6,249

Other taxation and social security
27,435
22,951

Other creditors
27,475
523

Accruals and deferred income
123,103
1,061,620

214,919
5,617,251


The loan was secured by fixed and floating charge over all property and undertaking of the company.

Page 3

 


CIBI INVESTMENTS LIMITED
 


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

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loan
4,344,783
-

4,344,783
-


The bank loan is secured on the company's freehold property by a fixed charge and on the company's plant and machinery by a floating charge.


8.Guarantees and other financial commitments

The company had a joint loan arrangement with an entity controlled by the shareholders which was settled in full in 2023. The loan capital value plus exit fees recorded within the other entity's records at 31 December 2022 totalled £3,008,260.

 
Page 4