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Registration number: 08049999

CBRS Estates Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

CBRS Estates Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

CBRS Estates Ltd

Company Information

Directors

Mr R Hanslip

Mrs S Hanslip

Registered office

58 Grooms Newtown Road
Southampton
Hampshire
SO31 9GB

Accountants

Lines & Company Ltd
8 Highfield Road
West Moors
Ferndown
Dorset
BH22 0NA

 

CBRS Estates Ltd

(Registration number: 08049999)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

68,433

80,510

Investments

5

2,474,805

2,474,805

 

2,543,238

2,555,315

Current assets

 

Stocks

6

1,777,290

1,994,392

Debtors

7

292,692

271,123

Cash at bank and in hand

 

1,817,213

838,481

 

3,887,195

3,103,996

Creditors: Amounts falling due within one year

8

(3,089,628)

(3,079,213)

Net current assets

 

797,567

24,783

Net assets

 

3,340,805

2,580,098

Capital and reserves

 

Called up share capital

9

110

110

Share premium reserve

2,474,795

2,474,795

Retained earnings

865,900

105,193

Shareholders' funds

 

3,340,805

2,580,098

 

CBRS Estates Ltd

(Registration number: 08049999)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

Mr R Hanslip
Director

   
     

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

 

CBRS Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
58 Grooms Newtown Road
Southampton
Hampshire
SO31 9GB
England

These financial statements were authorised for issue by the Board on 28 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Summary of disclosure exemptions

The company has taken advantage of the exemption to not disclose transactions with wholly owned group members (FRS102 1AC.35).

Revenue recognition

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 revenue when:
The amount of revenue 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.

 

CBRS Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

CBRS Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

CBRS Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Financial instruments

Classification
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102, in full, 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 financial 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.

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.

 Recognition and measurement
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from group companies and related parties that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

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

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 initially at transaction price and subsequently measured at amortised cost using the effective interest method.

 

 

CBRS Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

253,272

253,272

At 30 April 2024

253,272

253,272

Depreciation

At 1 May 2023

172,762

172,762

Charge for the year

12,077

12,077

At 30 April 2024

184,839

184,839

Carrying amount

At 30 April 2024

68,433

68,433

At 30 April 2023

80,510

80,510

5

Investments

2024
£

2023
£

Investments in subsidiaries

2,474,805

2,474,805

Subsidiaries

£

Cost or valuation

At 1 May 2023

2,474,805

Provision

Carrying amount

At 30 April 2024

2,474,805

At 30 April 2023

2,474,805

 

CBRS Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

CBRS Estates 1 Limited

58 Newtown Road, Warsash, Southampton, Hampshire, SO31 9GB

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

CBRS Estates 1 Limited

The principal activity of CBRS Estates 1 Limited is property investment and letting.

6

Stocks

2024
£

2023
£

Work in progress

1,777,290

1,994,392

7

Debtors

Current

2024
£

2023
£

Trade debtors

16,423

4,646

Other debtors

276,269

266,477

 

292,692

271,123

 

CBRS Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

40,456

59,266

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

1,531,694

1,591,048

Taxation and social security

 

256,698

19,273

Accruals and deferred income

 

68,207

154,552

Other creditors

 

1,192,573

1,255,074

 

3,089,628

3,079,213

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

CBRS Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

10

Related party transactions

Summary of transactions with other related parties

At the balance sheet date, a member of key management personnel was owed £402,841 (2023: £465,639) by the company.
 
No interest was paid on this loan during the year and there are no fixed terms for repayment. The amount is included within creditors.