Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true582023-04-01falseNo description of principal activity57trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09845982 2023-04-01 2024-03-31 09845982 2022-04-01 2023-03-31 09845982 2024-03-31 09845982 2023-03-31 09845982 c:Director1 2023-04-01 2024-03-31 09845982 c:RegisteredOffice 2023-04-01 2024-03-31 09845982 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 09845982 d:Buildings d:ShortLeaseholdAssets 2024-03-31 09845982 d:Buildings d:ShortLeaseholdAssets 2023-03-31 09845982 d:PlantMachinery 2023-04-01 2024-03-31 09845982 d:PlantMachinery 2024-03-31 09845982 d:PlantMachinery 2023-03-31 09845982 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09845982 d:FurnitureFittings 2023-04-01 2024-03-31 09845982 d:FurnitureFittings 2024-03-31 09845982 d:FurnitureFittings 2023-03-31 09845982 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09845982 d:ComputerEquipment 2023-04-01 2024-03-31 09845982 d:ComputerEquipment 2024-03-31 09845982 d:ComputerEquipment 2023-03-31 09845982 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09845982 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09845982 d:CurrentFinancialInstruments 2024-03-31 09845982 d:CurrentFinancialInstruments 2023-03-31 09845982 d:Non-currentFinancialInstruments 2024-03-31 09845982 d:Non-currentFinancialInstruments 2023-03-31 09845982 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09845982 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09845982 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09845982 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09845982 d:ShareCapital 2024-03-31 09845982 d:ShareCapital 2023-03-31 09845982 d:SharePremium 2024-03-31 09845982 d:SharePremium 2023-03-31 09845982 d:RetainedEarningsAccumulatedLosses 2024-03-31 09845982 d:RetainedEarningsAccumulatedLosses 2023-03-31 09845982 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 09845982 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 09845982 d:OtherDeferredTax 2024-03-31 09845982 d:OtherDeferredTax 2023-03-31 09845982 c:OrdinaryShareClass1 2023-04-01 2024-03-31 09845982 c:OrdinaryShareClass1 2024-03-31 09845982 c:OrdinaryShareClass1 2023-03-31 09845982 c:FRS102 2023-04-01 2024-03-31 09845982 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09845982 c:FullAccounts 2023-04-01 2024-03-31 09845982 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09845982 2 2023-04-01 2024-03-31 09845982 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 09845982












CS HOSPITALITY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 

CS HOSPITALITY LTD

CONTENTS



Page
Company Information
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 11


 

CS HOSPITALITY LTD
 
COMPANY INFORMATION


Director
C Smyth 




Registered number
09845982



Registered office
92 Kensington Park Road
London

W11 2PN




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:09845982
CS HOSPITALITY LTD

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,849,106
932,219

  
1,849,106
932,219

Current assets
  

Stocks
 5 
909,166
575,951

Debtors: amounts falling due within one year
 6 
147,235
303,620

Cash at bank and in hand
  
1,611,525
2,359,680

  
2,667,926
3,239,251

Creditors: amounts falling due within one year
 7 
(1,039,043)
(1,437,280)

Net current assets
  
 
 
1,628,883
 
 
1,801,971

Total assets less current liabilities
  
3,477,989
2,734,190

Creditors: amounts falling due after more than one year
 8 
-
(186,667)

Provisions for liabilities
  

Deferred tax
 9 
(323,692)
(116,433)

  
 
 
(323,692)
 
 
(116,433)

Net assets
  
3,154,297
2,431,090


Capital and reserves
  

Called up share capital 
 10 
1,000
1,000

Share premium account
  
414,691
414,691

Profit and loss account
  
2,738,606
2,015,399

Total equity
  
3,154,297
2,431,090


Page 2


 
REGISTERED NUMBER:09845982
CS HOSPITALITY LTD
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges her 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 profit and loss account 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 on 25 September 2024.




C Smyth
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 

CS HOSPITALITY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

CS Hospitality Limited is a private company limited by shares incorporated in England and Wales. Its registered office is 92 Kensington Park Road, London, W11 2PN.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial
statements.

 
2.3

Revenue

Revenue 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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 

CS HOSPITALITY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 

CS HOSPITALITY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
7-12% straight line, to the end of the lease
Plant and machinery
-
33% straight line
Fixtures and fittings
-
33% straight line
Computer equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 

CS HOSPITALITY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.13

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument. 

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 Company after deducting all of its liabilities. 
 
The Company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 7

 

CS HOSPITALITY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)




Financial instruments (continued)

Impairment of financial assets
Financial assets 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 profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.15

 Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Page 8

 

CS HOSPITALITY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 57 (2023 - 58).


4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
1,365,216
91,425
192,890
19,678
1,669,209


Additions
967,823
15,907
165,881
2,549
1,152,160


Disposals
-
-
(151,049)
-
(151,049)



At 31 March 2024

2,333,039
107,332
207,722
22,227
2,670,320



Depreciation


At 1 April 2023
554,764
39,057
127,875
15,294
736,990


Charge for the year on owned assets
152,129
25,528
36,898
3,010
217,565


Disposals
-
-
(133,341)
-
(133,341)



At 31 March 2024

706,893
64,585
31,432
18,304
821,214



Net book value



At 31 March 2024
1,626,146
42,747
176,290
3,923
1,849,106



At 31 March 2023
810,452
52,368
65,015
4,384
932,219


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
909,166
575,951


Page 9

 

CS HOSPITALITY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
2,610
1,020

Other debtors
57,493
129,054

Prepayments and accrued income
87,132
173,546

147,235
303,620



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
80,000

Trade creditors
315,796
288,844

Corporation tax
-
283,911

Other taxation and social security
270,099
249,204

Other creditors
350,244
382,049

Accruals and deferred income
102,904
153,272

1,039,043
1,437,280



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
186,667



9.


Deferred taxation




2024


£






At beginning of year
(116,433)


Charged to profit or loss
(207,259)



At end of year
(323,692)

Page 10

 

CS HOSPITALITY LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(324,566)
(117,276)

Short term timing differences
874
843


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


 
Page 11