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Company registration number: 08683815
Cnepin Enterprises Limited
Trading as Cnepin Enterprises Limited
Unaudited filleted abridged financial statements
31 March 2024
Cnepin Enterprises Limited
Contents
Directors and other information
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Cnepin Enterprises Limited
Directors and other information
Directors Mrs Heather Perkins
Mrs Allyson Coleman
Secretary David Emrys Jones
Company number 08683815
Registered office The Grange
Castle Lane
Penhow
NP26 3AD
Business address The Grange
Castle Lane
Penhow
Mon
NP26 3AD
Bankers Barclays Bank plc
14 Commercial St
Newport
Solicitors Morgan La Roche
Bay House
Phoenix Way
Swansea
Cnepin Enterprises Limited
Abridged statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 4 2,951,000 3,321,000
_______ _______
2,951,000 3,321,000
Current assets
Debtors 15,002 20,002
Cash at bank and in hand 129,592 49,037
_______ _______
144,594 69,039
Creditors: amounts falling due
within one year ( 34,280) ( 34,780)
_______ _______
Net current assets 110,314 34,259
_______ _______
Total assets less current liabilities 3,061,314 3,355,259
Creditors: amounts falling due
after more than one year ( 3,049,504) ( 3,342,504)
_______ _______
Net assets 11,810 12,755
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 11,808 12,753
_______ _______
Shareholders funds 11,810 12,755
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
Mrs Heather Perkins
Director
Company registration number: 08683815
Cnepin Enterprises Limited
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2022 2 13,848 13,850
Loss for the year ( 1,095) ( 1,095)
_______ _______ _______
Total comprehensive income for the year - ( 1,095) ( 1,095)
_______ _______ _______
At 31 March 2023 and 1 April 2023 2 12,753 12,755
Loss for the year ( 945) ( 945)
_______ _______ _______
Total comprehensive income for the year - ( 945) ( 945)
_______ _______ _______
At 31 March 2024 2 11,808 11,810
_______ _______ _______
Cnepin Enterprises Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Wales. The address of the registered office is The Grange, Castle Lane, Penhow, NP26 3AD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company is dependant on the ongoing support of its creditors. The financial statements have been prepared on a going concern basis which assumes that the company will continue for the foreseeable future. The directors believe it is appropriate to prepare the financial statements on a going concern basis.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
£
Cost
At 1 April 2023 3,321,000
Disposals ( 370,000)
_______
At 31 March 2024 2,951,000
_______
Impairment
At 1 April 2023 and 31 March 2024 -
_______
Carrying amount
At 31 March 2024 2,951,000
_______
At 31 March 2023 3,321,000
_______