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REGISTERED NUMBER: 10843815 (England and Wales)















CS Astra Limited

Group Strategic Report,

Director's Report and

Audited Consolidated Financial Statements

for the Year Ended 31 December 2023






CS Astra Limited (Registered number: 10843815)

Contents of the Consolidated Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Group Strategic Report 2

Director's Report 4

Independent Auditors' Report 6

Consolidated Statement of Income and Retained
Earnings

9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Cash Flow Statement 12

Notes to the Consolidated Financial Statements 13


CS Astra Limited

Company Information
for the year ended 31 December 2023







Director: C A Slaughter





Registered office: 178 Buckingham Avenue
Slough
Berkshire
SL1 4RD





Registered number: 10843815 (England and Wales)





Auditors: Cooper Parry Group Limited
Statutory Auditor
178 Buckingham Avenue
Slough
Berkshire
SL1 4RD

CS Astra Limited (Registered number: 10843815)

Group Strategic Report
for the year ended 31 December 2023


The director presents his strategic report of the company and the group for the year ended 31 December 2023.

The director aims to present a balanced and comprehensive review of the development and performance of the group during the year and its position at the year end. The review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties faced.

Review of business
The principal activity of C S Astra Limited is that of a holding company. The group's principal activity is the sale and repair of new and used vehicles, with significant property activities, including property investment, commercial property rental, and property development.

Whilst the 2023 results show a good level of profitability it was another challenging year due to disruption in supply chains affecting the supply of building materials and new and used vehicles. We consider that our key financial performance indicators are those that communicate the financial performance and strength of the group as a whole, these being turnover and gross margin.

2023 £'000 2022 £'000

Turnover 146,761 127,019
Gross profit 9,438 9,973
Operating profit 4,409 4,593
Profit before tax 4,273 4,426


The 2023 results show a full year of trade and group profit before tax is £4,273,213.

Principal risks and uncertainties
The company's operations expose it to a variety of financial risks which include credit risk, liquidity risk and interest rate risk. The company has in place risk management policies which are implemented by the company's finance department. These policies, which are consistent with those from the previous year, seek to limit the adverse effects on the financial performance of the company by monitoring levels of debt finance and related finance costs.

Interest rate risk
The group's liquidity position does not place reliance on short term borrowings and hence such perceived risk is considered to be minimal.

Liquidity risk
The group makes efforts to manage the financial risk by the monitoring of cash flow to ensure that the business is able to meet its foreseeable debts as they fall due and to invest any cash assets profitably. A mixture of long-term and short-term debt finance is designed to ensure the company has sufficient funds available for operations and planned expansions.

Credit risk
The group's principal financial assets are stock and trade debtors. The credit risk associated with stock is limited and therefore the principal credit risk arises from its trade debtors.

In order to manage credit risk management set limits for customers based on a combination of payment history and third party credit references. These credit limits are reviewed regularly by management together with the aged debtors and collection history.

With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen future events outside of our control.


CS Astra Limited (Registered number: 10843815)

Group Strategic Report
for the year ended 31 December 2023

Section 172(1) statement
The directors are accountable to shareholders for the management, performance and long-term success of the Company and we consider they are constantly focused on the key stakeholders who are vital and to a great degree depend on the success of the business. These include:-

Our workforce which remains our greatest asset and of which retention and motivation of is essential. The Company always aims therefore to be a reasonable employer in its approach to its employees in key areas including pay, benefits, safety, training, health and well-being.

We aim to create a culture of diversity and inclusion and to ensure that employment and progression within the Company is based on equality, aptitude and the ability and willingness to work and not on the basis, of race, individual characteristics, creed or political opinion.

The nature of our business means there is constant focus on working with our suppliers and business partners to ensure the balance is maintained of strong relationships and the need to obtain value for the business.

Being in the maid a retail business the retention and growth of customers is vital to our success and we take great pride in maintaining the excellent reputation for high standards of business conduct that has taken many years to achieve. Great attention is also given to measuring customer satisfaction and taking action as appropriate to ensure that our standards remains high and continue to improve whether measured against our competitors or internal objectives.

On behalf of the board:





C A Slaughter - Director


2 October 2024

CS Astra Limited (Registered number: 10843815)

Director's Report
for the year ended 31 December 2023


The director presents his report with the financial statements of the company and the group for the year ended 31 December 2023.

Principal activity
The principal activity of the group in the year under review was that of a motor trader.

Dividends
No dividends will be distributed for the year ended 31 December 2023.

Director
C A Slaughter held office during the whole of the period from 1 January 2023 to the date of this report.

Streamlined energy and carbon reporting


Type

2022 Consumed
kwh
2022 Emissions
metric tonnes
CO2e

2023 Consumed
kwh
2023 Emissions
metric tonnes
CO2e
Gas (Scope 1) 801,035 145.9 695,981 127.1
Electric (Scope 2) 680,752 131.6 713,269 147.6
Transport (Scope 1) 1,267,621 295.5 1,197,279 277.11
Total 2,749,408 573.0 2,606,529 551.8

Intensity Ratio 4.5 3.7

The methodology used in the calculation of these disclosures was based on the HM Government Environmental Reporting Guidelines 2019 and the Greenhouse Gas Reporting conversion factors of 2023.

Consumption data was extracted from supplier invoices across all sites.

The intensity ratio has been calculated by applying metric tonnes equivalent per £m turnover (tCO2e/£m)

Energy efficiency actions taken
We continue to make ongoing improvements to plant and equipment as we refurbish our current sites and seek to improve efficiency and reduce the use of energy and waste wherever possible.

Along with the UK's transition to electric vehicles, of which the Volvo brand which we represent is at the forefront, we continue to invest heavily in improvements to our vehicle charging infrastructure across all our sites and have significantly increased our own use of electric and hybrid vehicles. We installed solar energy panels at our Tonbridge location during 2023 and also commenced the installation at Eltham at the end of 2023 which will be active from January 2024.

Statement of director's responsibilities
The director is responsible for preparing the Group Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CS Astra Limited (Registered number: 10843815)

Director's Report
for the year ended 31 December 2023


Statement as to disclosure of information to auditors
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

The audit business of Haines Watts was acquired by Cooper Parry Group Limited on 14 November 2023. Haines
Watts has resigned as auditor and Cooper Parry Group Limited has been appointed in its place. Cooper Parry Group
Limited will be proposed for re-appointment in accordance with section 485 of the Companies Act 2006.

On behalf of the board:





C A Slaughter - Director


2 October 2024

Independent Auditors' Report to the Members of
CS Astra Limited


Opinion
We have audited the financial statements of CS Astra Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2023 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Director's Report, but does not include the financial statements and our Auditors' Report thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.

Independent Auditors' Report to the Members of
CS Astra Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We discussed with the Directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation.

Our procedures in relation to fraud, included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates and challenged the assumptions and judgements made by management in its significant accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. Our tests included agreeing the financial statement disclosures to underlying supporting documentation.


Independent Auditors' Report to the Members of
CS Astra Limited

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jane Wills (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited
Statutory Auditor
178 Buckingham Avenue
Slough
Berkshire
SL1 4RD

2 October 2024

CS Astra Limited (Registered number: 10843815)

Consolidated
Statement of Income and
Retained Earnings
for the year ended 31 December 2023

2023 2022
Notes £ £

Turnover 3 146,760,782 127,018,914

Cost of sales (137,323,214 ) (117,045,185 )
Gross profit 9,437,568 9,973,729

Administrative expenses (6,369,625 ) (6,253,148 )
3,067,943 3,720,581

Other operating income 4 1,341,436 872,334
Operating profit 4,409,379 4,592,915

Interest receivable and similar income 187,832 37,800
4,597,211 4,630,715

Interest payable and similar expenses 7 (323,999 ) (204,638 )
Profit before taxation 8 4,273,212 4,426,077

Tax on profit 10 (510,722 ) (743,081 )
Profit for the financial year 3,762,490 3,682,996

Retained earnings at beginning of year 18,275,191 15,006,738

Retained earnings for the group at end of
year

22,037,681

18,689,734

Profit attributable to:
Owners of the parent 3,284,875 3,268,453
Non-controlling interests 477,615 414,543
3,762,490 3,682,996

CS Astra Limited (Registered number: 10843815)

Consolidated Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 12 (4,653,153 ) (5,951,707 )
Tangible assets 13 13,958,335 11,428,283
Investments 14 239,513 239,513
9,544,695 5,716,089

Current assets
Stocks 15 11,512,525 7,672,973
Debtors 16 9,512,641 8,405,427
Cash at bank and in hand 7,254,354 10,362,687
28,279,520 26,441,087
Creditors
Amounts falling due within one year 17 10,425,624 8,594,947
Net current assets 17,853,896 17,846,140
Total assets less current liabilities 27,398,591 23,562,229

Creditors
Amounts falling due after more than one
year

18

(1,817,071

)

(1,804,670

)

Provisions for liabilities 21 (1,732,081 ) (1,670,610 )
Net assets 23,849,439 20,086,949

Capital and reserves
Called up share capital 22 8,656 8,656
Retained earnings 23 21,560,066 18,275,191
Shareholders' funds 21,568,722 18,283,847

Non-controlling interests 24 2,280,717 1,803,102
Total equity 23,849,439 20,086,949

The financial statements were approved by the director and authorised for issue on 2 October 2024 and were signed by:





C A Slaughter - Director


CS Astra Limited (Registered number: 10843815)

Company Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 12 - -
Tangible assets 13 9,294,157 7,825,229
Investments 14 3,357,519 3,217,300
12,651,676 11,042,529

Current assets
Debtors 16 6,318,614 5,592,028
Cash at bank 1,392,289 3,874,189
7,710,903 9,466,217
Creditors
Amounts falling due within one year 17 12,907,269 9,120,063
Net current (liabilities)/assets (5,196,366 ) 346,154
Total assets less current liabilities 7,455,310 11,388,683

Creditors
Amounts falling due after more than one
year

18

-

(1,662,587

)

Provisions for liabilities 21 (180,902 ) (205,889 )
Net assets 7,274,408 9,520,207

Capital and reserves
Called up share capital 22 8,656 8,656
Retained earnings 7,265,752 9,511,551
Shareholders' funds 7,274,408 9,520,207

Company's loss for the financial year (2,245,799 ) (1,694,569 )

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

The financial statements were approved by the director and authorised for issue on 2 October 2024 and were signed by:





C A Slaughter - Director


CS Astra Limited (Registered number: 10843815)

Consolidated Cash Flow Statement
for the year ended 31 December 2023

2023 2022
Notes £ £
Cash flows from operating activities
Cash generated from operations 30 (1,294,159 ) 6,677,614
Interest paid (323,999 ) (204,638 )
Tax paid (560,807 ) (883,742 )
Net cash from operating activities (2,178,965 ) 5,589,234

Cash flows from investing activities
Purchase of tangible fixed assets (3,163,565 ) (1,378,657 )
Sale of tangible fixed assets 102,973 -
Interest received 187,832 37,800
Net cash from investing activities (2,872,760 ) (1,340,857 )

Cash flows from financing activities
New loans in year 2,350,000 -
Loan repayments in year (406,608 ) (1,544,379 )
Payment to non-controlling interest - (53,668 )
Net cash from financing activities 1,943,392 (1,598,047 )

(Decrease)/increase in cash and cash equivalents (3,108,333 ) 2,650,330
Cash and cash equivalents at beginning
of year

31

10,362,687

7,712,357

Cash and cash equivalents at end of year 31 7,254,354 10,362,687

CS Astra Limited (Registered number: 10843815)

Notes to the Consolidated Financial Statements
for the year ended 31 December 2023


1. Statutory information

CS Astra 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 General Information page.

2. Accounting policies

Basis of preparing the financial statements
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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest pound.

Going concern
The financial statements have been prepared on the going concern basis. The directors have a reasonable expectation that the company and group have adequate resources to continue in operational existence for the foreseeable future. The company nd group therefore continues to adopt the going concern basis in preparing its financial statements.

Basis of consolidation
The financial statements consolidate the accounts of CS Astra Limited and all of its subsidiary undertakings ('subsidiaries').

Significant judgements and estimates
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provision do not match the level of debts which ultimately prove to be uncollectable.

There is also estimation uncertainty in calculating stock provisions. Slow moving and obsolete stocks are monitored during the year. Whilst every attempt is made to ensure that the stock provisions are as accurate as possible, there remain a risk that the provisions do not match the ultimate unrealised value of stock held.

There is estimation uncertainty in calculating estimated useful life of tangible and intangible fixed assets. Estimated useful lives are based on management's knowledge of historic useful life of similar assets and industry averages. Whilst every attempt is made to ensure that the depreciation provision is as accurate as possible, there remains a risk that the depreciation provision does not match the actual life of the asset.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Sales of motor vehicles and accessories are recognised on the earlier of full payment by, or delivery date to, the customer together with associated manufacturer vehicle bonus income. Any other manufacturer income in relation to achieving targets is recognised on an accrual basis. Servicing revenue is recognised on the
completion of the agreed work.

Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated economic life.

Amortisation is provided at the following rates:

Goodwill - 10% Straight line

CS Astra Limited (Registered number: 10843815)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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
Short leasehold - 20% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Basic financial instruments
A financial asset held as an equity instrument is recognised initially at the transaction price (including transaction costs).

At the end of each reporting period, unlisted equity investments are recorded at fair value, where appropriate, or at cost less impairment if their fair value cannot be reliably measured. Objective evidence of the impairment of financial assets is assessed at each period end and any impairment loss recognised in the profit or loss immediately. Impairment loss is calculated as the difference between the carrying amount of the instrument and the best estimate of the cash flows expected to be derived from the asset (including sales proceeds if sold) at the balance sheet date.

Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the financial instrument.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a
party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the
substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

CS Astra Limited (Registered number: 10843815)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Investments
(i) Subsidiary undertakings
Investments in subsidiaries are valued at cost less provision for impairment.

(ii) Other investments
Investments held as fixed assets are shown at fair value.

3. Turnover

The turnover and profit before taxation are attributable to the one principal activity of the group.

All turnover arose within the United Kingdom.

4. Other operating income
2023 2022
£ £
Sundry receipts 223,200 -
Finance commission 968,466 872,334
Profit on sale of tangible fixed assets 149,770 -
1,341,436 872,334

5. Employees and directors
2023 2022
£ £
Wages and salaries 5,472,714 5,293,296
Social security costs 390,746 387,801
Other pension costs 105,714 99,112
5,969,174 5,780,209

The average number of employees during the year was as follows:
2023 2022

Sales 52 50
Service and parts 84 93
Administration 22 22
158 165

The average number of employees by undertakings that were proportionately consolidated during the year was 158 (2022 - 165 ) .

6. Directors' emoluments
2023 2022
£ £
Director's remuneration 191,550 228,619
Director's pension contributions to money purchase schemes 23,967 20,156

7. Interest payable and similar expenses
2023 2022
£ £
Bank interest 120,934 110,166
Other loan interest payable 203,065 94,472
323,999 204,638

CS Astra Limited (Registered number: 10843815)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2023


8. Profit before taxation

The profit is stated after charging/(crediting):

2023 2022
£ £
Hire of plant and machinery 8,524 9,488
Other operating leases 638,161 412,531
Depreciation - owned assets 530,540 217,932
Profit on disposal of fixed assets (149,770 ) -
Goodwill amortisation (1,298,554 ) (1,298,554 )

9. Auditors' remuneration

2023 2022
£    £   
Fees payable to the company's auditor for the audit of the company's
annual accounts

11,550

11,000
Fees payable to the company's auditor in respect of the auditing of
accounts of associates of the company

50,925

48,500
Fees payable to the company's auditor in respect of taxation compliance
and other services

6,125

6,125
Total 68,600 66,125

10. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£ £
Current tax:
UK corporation tax 535,150 544,382
Under/(over) tax provision 559 -
Total current tax 535,709 544,382

Deferred tax (24,987 ) 198,699
Tax on profit 510,722 743,081

CS Astra Limited (Registered number: 10843815)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2023


10. Taxation - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£ £
Profit before tax 4,273,212 4,426,077
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2022 - 19 %)

1,068,303

840,955

Effects of:
Expenses not deductible for tax purposes 22,428 42,677
Income not taxable for tax purposes (542,070 ) (248,128 )
Depreciation in excess of capital allowances 25,869 -
Adjustments to tax charge in respect of previous periods 559 -
Impact of change of rate of deferred tax (64,367 ) 107,577

Total tax charge 510,722 743,081

11. Individual income statement

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


12. Intangible fixed assets

Group
Goodwill
£
Cost
At 1 January 2023
and 31 December 2023 (12,659,123 )
Amortisation
At 1 January 2023 (6,707,416 )
Amortisation for year (1,298,554 )
At 31 December 2023 (8,005,970 )
Net book value
At 31 December 2023 (4,653,153 )
At 31 December 2022 (5,951,707 )

CS Astra Limited (Registered number: 10843815)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2023


13. Tangible fixed assets

Group
Freehold Short Plant and
property leasehold machinery
£ £ £
Cost
At 1 January 2023 9,883,346 - 552,541
Additions - 1,805,644 17,112
Disposals (100,000 ) (2,973 ) -
At 31 December 2023 9,783,346 1,802,671 569,653
Depreciation
At 1 January 2023 314,387 - 322,034
Charge for year 114,595 120,178 100,963
At 31 December 2023 428,982 120,178 422,997
Net book value
At 31 December 2023 9,354,364 1,682,493 146,656
At 31 December 2022 9,568,959 - 230,507

Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 January 2023 1,807,378 48,092 12,291,357
Additions 1,339,514 1,295 3,163,565
Disposals - - (102,973 )
At 31 December 2023 3,146,892 49,387 15,351,949
Depreciation
At 1 January 2023 196,261 30,392 863,074
Charge for year 191,851 2,953 530,540
At 31 December 2023 388,112 33,345 1,393,614
Net book value
At 31 December 2023 2,758,780 16,042 13,958,335
At 31 December 2022 1,611,117 17,700 11,428,283

CS Astra Limited (Registered number: 10843815)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2023


13. Tangible fixed assets - continued

Company
Fixtures
Freehold Short and
property leasehold fittings Totals
£ £ £ £
Cost
At 1 January 2023 8,109,725 - 27,204 8,136,929
Additions - 1,805,644 1,500 1,807,144
Disposals (100,000 ) (2,973 ) - (102,973 )
At 31 December 2023 8,009,725 1,802,671 28,704 9,841,100
Depreciation
At 1 January 2023 304,783 - 6,917 311,700
Charge for year 112,194 120,178 2,871 235,243
At 31 December 2023 416,977 120,178 9,788 546,943
Net book value
At 31 December 2023 7,592,748 1,682,493 18,916 9,294,157
At 31 December 2022 7,804,942 - 20,287 7,825,229

14. Fixed asset investments

Group
Unlisted
investments
£
Cost
At 1 January 2023
and 31 December 2023 239,513
Net book value
At 31 December 2023 239,513
At 31 December 2022 239,513
Company
Shares in
group
undertakings
£
Cost
At 1 January 2023 3,217,300
Share of profit/(loss) 140,219
At 31 December 2023 3,357,519
Net book value
At 31 December 2023 3,357,519
At 31 December 2022 3,217,300


CS Astra Limited (Registered number: 10843815)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2023


14. Fixed asset investments - continued


Principal subsidiaries

Company name Country % Shareholding Description

Grafise Holdings Limited

England and Wales

90
Immediate holding
company
Grafise Limited England and Wales 90 Volvo dealership
Squire Furneaux Maidenhead Limited England and Wales 90 Non-trading
Squire Furneaux Cobham Limited England and Wales 90 Volvo dealership
Squire Furneaux LLP England and Wales 95 Property investment

15. Stocks

Group
2023 2022
£ £
Stocks 11,512,525 7,672,973

16. Debtors: amounts falling due within one year

Group Company
2023 2022 2023 2022
£ £ £ £
Trade debtors 3,249,028 2,263,526 - -
Amounts owed by group undertakings - - 2,889,890 2,881,016
Other debtors 4,651,115 4,353,340 3,187,074 2,711,012
Tax 819,244 719,075 - -
VAT - - 208,384 -
Prepayments and accrued income 793,254 1,069,486 33,266 -
9,512,641 8,405,427 6,318,614 5,592,028

17. Creditors: amounts falling due within one year

Group Company
2023 2022 2023 2022
£ £ £ £
Bank loans and overdrafts (see note 19) 1,662,587 231,394 1,662,587 231,394
Other loans (see note 19) 507,044 81,330 - -
Trade creditors 5,375,772 4,475,250 122,853 12,562
Amounts owed to group undertakings - - 11,049,540 8,890,668
Amounts owed to participating interests 77,509 77,509 - -
Tax 249,997 174,926 - (72,893 )
Social security and other taxes 377,926 477,122 - -
VAT 269,452 398,482 - 58,344
Other creditors 1,184,990 1,518,660 - (12 )
Accruals and deferred income 720,347 1,160,274 72,289 -
10,425,624 8,594,947 12,907,269 9,120,063

The bank loan is secured by a cross guarantee with other group companies and legal charges over the properties held by group companies.

Within other creditors is a vehicle funding balance of £937,791 (2022: £1,338,295) which is secured over the stock items to which it relates.

CS Astra Limited (Registered number: 10843815)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2023


18. Creditors: amounts falling due after more than one year

Group Company
2023 2022 2023 2022
£ £ £ £
Bank loans (see note 19) - 1,662,587 - 1,662,587
Other loans (see note 19) 1,817,071 70,000 - -
Accruals and deferred income - 72,083 - -
1,817,071 1,804,670 - 1,662,587

The bank loan is secured by a cross guarantee with other group companies and legal charges over the properties held by group companies.

19. Loans

An analysis of the maturity of loans is given below:

Group Company
2023 2022 2023 2022
£ £ £ £
Amounts falling due within one year or on demand:
Bank loans 1,662,587 231,394 1,662,587 231,394
Other loans 507,044 81,330 - -
2,169,631 312,724 1,662,587 231,394
Amounts falling due between one and two years:
Bank loans - 1-2 years - 1,662,587 - 1,662,587
Other loans - 1-2 years 355,714 70,000 - -
355,714 1,732,587 - 1,662,587
Amounts falling due between two and five years:
Other loans - 2-5 years 1,008,976 - - -
Amounts falling due in more than five years:
Repayable by instalments
Other loans more 5yrs instal 452,381 - - -

Other loans is secured by a cross guarantee with other group companies.

20. Leasing agreements

Minimum lease payments fall due as follows:

Company
Non-cancellable
operating leases
2023 2022
£ £
Within one year 261,250 -
Between one and five years 1,127,500 -
1,388,750 -

CS Astra Limited (Registered number: 10843815)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2023


21. Provisions for liabilities

Group Company
2023 2022 2023 2022
£ £ £ £
Deferred tax
Accelerated capital allowances 423,250 448,237 180,902 205,889

Other provisions 1,308,831 1,222,373 - -

Aggregate amounts 1,732,081 1,670,610 180,902 205,889

Group
Deferred Other
tax provisions
£ £
Balance at 1 January 2023 448,237 1,222,373
Provided during year (24,987 ) -
Balance at 31 December 2023 423,250 1,222,373

Company
Deferred tax
£
Balance at 1 January 2023 205,889
Deferred tax (24,987 )
Balance at 31 December 2023 180,902

The other provision relates to a Unfunded Unapproved Retirement Benefit pension for the directors.

22. Called up share capital

Allotted, issued and fully paid:


Number

Class
Nominal
value


£   
1,000 A Ordinary £1.00 £1,000
1,187 B Ordinary £1.00 £1,187
2,165 C Ordinary £1.00 £2,165
4,304 D Ordinary £1.00 £4,304
£8,656
All shares ranked pari-passu.

CS Astra Limited (Registered number: 10843815)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2023


23. Reserves

Group
Retained
earnings
£

At 1 January 2023 18,275,191
Profit for the year 3,284,875
At 31 December 2023 21,560,066


24. Non-controlling interests

Equity £
At 1 January 2022 1,442,227
Proportion of net assets at the year end 414,543
Payment of non-controlling interest in year (53,668 )
At 31 December 2022 1,803,102

25. Pension commitments

The Group operates a defined contribution pension scheme for the benefit of directors and senior employees. The assets of the scheme are administered by trustees in funds which are independent from those of the Group.

The total contribution paid in the year amounted to £105,714 (2022: £99,112).

26. Capital commitments

At the year end the group had capital commitments of £643,107 (2022: £1,500,000).

27. Guarantees

The group companies have provided a cross guarantee to National Westminster Bank PLC in respect of CS Astra Limited bank loans up to £3,900,000.

28. Related party disclosures

Included in creditors in the group is £77,509 (2022: 77,509) owed to companies controlled by a director.

Included in CS Astra Limited debtors is £2,889,890 (2022: £2,889,890) owed from subsidiaries that are not wholly owned, and within creditors is £11,049,542 (2022: £8,899,542) due to these subsidiaries. During the year the company also received income of £435,000 (2022: £435,000) from subsidiaries that are not wholly owned.

29. Ultimate controlling party

The ultimate controlling party is the Slaughter family.

CS Astra Limited (Registered number: 10843815)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 December 2023


30. Reconciliation of profit before taxation to cash generated from operations
2023 2022
£ £
Profit before taxation 4,273,212 4,426,077
Depreciation charges 533,220 217,932
Profit on disposal of fixed assets (149,770 ) -
Amortisation charges (1,298,554 ) (1,298,554 )
Finance costs 323,999 204,638
Finance income (187,832 ) (37,800 )
3,494,275 3,512,293
Increase in stocks (3,839,552 ) (337,458 )
(Increase)/decrease in trade and other debtors (859,955 ) 5,231,844
Decrease in trade and other creditors (88,927 ) (1,729,065 )
Cash generated from operations (1,294,159 ) 6,677,614

31. Cash and cash equivalents

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31/12/23 1/1/23
£ £
Cash and cash equivalents 7,254,354 10,362,687
Year ended 31 December 2022
31/12/22 1/1/22
£ £
Cash and cash equivalents 10,362,687 7,712,357


32. Analysis of changes in net funds

At 1/1/23 Cash flow At 31/12/23
£ £ £
Net cash
Cash at bank and in hand 10,362,687 (3,108,333 ) 7,254,354
10,362,687 (3,108,333 ) 7,254,354
Debt
Debts falling due within 1 year (312,724 ) (1,856,907 ) (2,169,631 )
Debts falling due after 1 year (1,732,587 ) (84,484 ) (1,817,071 )
(2,045,311 ) (1,941,391 ) (3,986,702 )
Total 8,317,376 (5,049,724 ) 3,267,652