Company registration number 07393384 (England and Wales)
CS STREATHAM LIMITED
Unaudited Financial Statements
for the Year Ended 31 March 2024
CS STREATHAM LIMITED
Contents
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
CS STREATHAM LIMITED
Company Information
- 1 -
Directors
Mr T J Talbot
Mr B A Ridge
Company number
07393384
Registered office
St Davids House
48 Free Street
Brecon
Powys
UK
LD3 7BN
Accountants
Mitchell Associates Ltd
St Davids House
48 Free Street
Brecon
Powys
UK
LD3 7BN
CS STREATHAM LIMITED
Balance Sheet
As at 31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,450
6,842
Investments
4
-
0
67
5,450
6,909
Current assets
Stocks
5
9,500
20,673
Debtors
6
3,675
2,237
Cash at bank and in hand
6,985
3,548
20,160
26,458
Creditors: amounts falling due within one year
7
(57,623)
(63,089)
Net current liabilities
(37,463)
(36,631)
Total assets less current liabilities
(32,013)
(29,722)
Creditors: amounts falling due after more than one year
8
(30,412)
(32,644)
Net liabilities
(62,425)
(62,366)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(62,427)
(62,368)
Total equity
(62,425)
(62,366)
CS STREATHAM LIMITED
Balance Sheet
As at 31 March 2024
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 22 October 2024 and are signed on its behalf by:
Mr T J Talbot
Mr B A Ridge
Director
Director
Company Registration No. 07393384
CS STREATHAM LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
- 4 -
1
Accounting policies
Company information

CS Streatham Limited is a private company limited by shares incorporated in England and Wales. The registered office is St Davids House, 48 Free Street, Brecon, Powys, UK, LD3 7BN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the balance sheet date the company had net current liabilities of £true47,463 (2023 - £36,631) and total net liabilities of £72,358 (2023 - £62,366). However creditors includes loans from the directors of £10,934 (2023 - £11,005). In addition the directors are aware of the turnover and margins that the company needs to achieve in order to keep the company in profit and they believe these targets can be met. The directors review realistic objectives at regular intervals, based on this periodic review, the company's plans and the continued support of the directors, they consider it appropriate to prepare the financial statements on the going concern basis.

1.3
Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

 

The company recognises Turnover when:

The amount of Turnover can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% and 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

CS STREATHAM LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
1
Accounting policies
- 5 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

CS STREATHAM LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
1
Accounting policies
- 6 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
5
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2023 and 31 March 2024
26,980
Depreciation and impairment
At 1 April 2023
20,138
Depreciation charged in the year
1,392
At 31 March 2024
21,530
Carrying amount
At 31 March 2024
5,450
At 31 March 2023
6,842
CS STREATHAM LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
- 7 -
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
-
0
67
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2023 & 31 March 2024
67
Impairment
At 1 April 2023
-
Disposals
67
At 31 March 2024
67
Carrying amount
At 31 March 2024
-
At 31 March 2023
67
5
Stocks
2024
2023
£
£
Stocks
9,500
20,673
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,394
704
Other debtors
1,281
1,533
3,675
2,237
CS STREATHAM LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2024
- 8 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
26,475
26,810
Trade creditors
10,500
8,705
Taxation and social security
776
3,117
Other creditors
19,872
24,457
57,623
63,089
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
30,412
32,644
9
Loans and overdrafts
2024
2023
£
£
Bank loans
33,661
37,938
Bank overdrafts
23,226
21,516
56,887
59,454
Payable within one year
26,475
26,810
Payable after one year
30,412
32,644

Bank Borrowings

Barclays Bounce Back Loan is denominated in GBP with a nominal interest rate of 2.5%, and the final instalment is due on 31 May 2030. The Carrying amount at year end is £33,661 (2023 - £37,938).

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