COMMUNITY FIBRE INFRASTRUCTURE PARTNERS LIMITED

Company Registration Number:
13962580 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

COMMUNITY FIBRE INFRASTRUCTURE PARTNERS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

COMMUNITY FIBRE INFRASTRUCTURE PARTNERS LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

10 months to 31 December 2022


£

£
Fixed assets
Tangible assets: 3 34,411 26,816
Total fixed assets: 34,411 26,816
Current assets
Stocks: 3,697,112 1,648,613
Debtors: 4 26,001,859 6,979,500
Cash at bank and in hand: 25,815 312,888
Investments:   0 0
Total current assets: 29,724,786 8,941,001
Creditors: amounts falling due within one year: 5 (6,423,920) (4,542,501)
Net current assets (liabilities): 23,300,866 4,398,500
Total assets less current liabilities: 23,335,277 4,425,316
Creditors: amounts falling due after more than one year: 6 (25,613,800) (3,500,000)
Total net assets (liabilities): (2,278,523) 925,316
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (2,278,623) 925,216
Shareholders funds: (2,278,523) 925,316

The notes form part of these financial statements

COMMUNITY FIBRE INFRASTRUCTURE PARTNERS LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 June 2024
and signed on behalf of the board by:

Name: Peter White
Status: Director

The notes form part of these financial statements

COMMUNITY FIBRE INFRASTRUCTURE PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Freehold buildings over 50 years Leasehold land and buildings over the lease term Computer equipment over 3 years Fixtures, fittings, tools and equipment over 3 years

Other accounting policies

Stock Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Pensions Contributions to defined contribution plans are expensed in the period to which they relate.

COMMUNITY FIBRE INFRASTRUCTURE PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 10 months to 31 December 2022
Average number of employees during the period 31 17

COMMUNITY FIBRE INFRASTRUCTURE PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 30,863
Additions 23,841
At 31 December 2023 54,704
Depreciation
At 01 January 2023 4,047
Charge for year 16,246
At 31 December 2023 20,293
Net book value
At 31 December 2023 34,411
At 31 December 2022 26,816

COMMUNITY FIBRE INFRASTRUCTURE PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 10 months to 31 December 2022
££
Debtors due after more than one year: 26,001,859 6,979,500

Debtors included as follows : Trade debtors £21,305,708 ( 2022 - £6,979,500), Taxation and social security costs £4,685,207 (2022 - Nil), Other debtors £10,944 (2022 - Nil).

COMMUNITY FIBRE INFRASTRUCTURE PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

Creditors amounts falling due within one year : Trade creditors due within one year is £1,417,436 (2022 -£ 336,356) Amounts owed to group undertakings and undertakings in which the company has a participating interest is £4,073,864 (2022 - £3,412,633) Taxation and social security costs is £Nil (2022 - £79,024) Other creditors is £932,620 (2022 - £714,488)

COMMUNITY FIBRE INFRASTRUCTURE PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due after more than one year note

creditors - amounts falling due after one year : Amounts owed to group undertakings and undertakings in which the company has a participating interest is £25,613,800 (2022 - £3,500,000).

COMMUNITY FIBRE INFRASTRUCTURE PARTNERS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Related party transactions

Name of the related party: Community Fibre Limited
Relationship:
Ultimate controlling parent company
Description of the Transaction: The transaction was the loan from Community Fibre Limited which is the ultimate controlling party is by virtue of its shareholding in the company.
£
Balance at 01 January 2023 3,500,000
Balance at 31 December 2023 25,613,800

During the year the company entered into the following transactions with related parties : Sales - £18,089,723 (2022 - £5,816,250), Shared service costs - £904,486 (2022 - £278,388) and Rent - £120,000 .