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REGISTERED NUMBER: 02841260










C.I.B.S. HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024






C.I.B.S. HOLDINGS LIMITED (REGISTERED NUMBER: 02841260)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 4


C.I.B.S. HOLDINGS LIMITED (REGISTERED NUMBER: 02841260)

BALANCE SHEET
31ST AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 360
Investment property 5 306,000 250,000
306,000 250,360

CURRENT ASSETS
Debtors 6 9,251 813
Cash at bank 120,411 153,932
129,662 154,745
CREDITORS
Amounts falling due within one year 7 11,402 31,026
NET CURRENT ASSETS 118,260 123,719
TOTAL ASSETS LESS CURRENT LIABILITIES 424,260 374,079

CAPITAL AND RESERVES
Called up share capital 8 36 36
Non distributable reserve 9 166,549 110,549
Capital redemption reserve 36 36
Retained earnings 257,639 263,458
SHAREHOLDERS' FUNDS 424,260 374,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th January 2025 and were signed by:





M P Metcalfe - Director


C.I.B.S. HOLDINGS LIMITED (REGISTERED NUMBER: 02841260)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024


1. STATUTORY INFORMATION

C.I.B.S Holdings Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

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

At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis.

Turnover
Turnover is the total amount receivable by the company for rents during the year. The turnover is wholly derived from the UK.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 33% on cost

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

C.I.B.S. HOLDINGS LIMITED (REGISTERED NUMBER: 02841260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST OR VALUATION
At 1st September 2023
and 31st August 2024 1,932
DEPRECIATION
At 1st September 2023 1,572
Charge for year 360
At 31st August 2024 1,932
NET BOOK VALUE
At 31st August 2024 -
At 31st August 2023 360


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st September 2023 250,000
Revaluations 56,000
At 31st August 2024 306,000
NET BOOK VALUE
At 31st August 2024 306,000
At 31st August 2023 250,000

C.I.B.S. HOLDINGS LIMITED (REGISTERED NUMBER: 02841260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024


5. INVESTMENT PROPERTY - continued

Investment property is included in the financial statements at a fair value of £306,000 which, in the opinion of the director, fairly represents the open market value at the balance sheet date.

Fair value at 31st August 2024 is represented by:
£   
Valuation in 2002 60,550
Valuation in 2015 22,222
Valuation in 2023 27,778
Valuation in 2024 56,000
Cost 139,450
306,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 813
Other debtors 9,251 -
9,251 813

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 3,881 3,321
Other creditors 7,521 27,705
11,402 31,026

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
36 Ordinary £1 36 36

9. RESERVES
Non
distributable
reserve
£   
At 1st September 2023 110,549
Revaluation 56,000

At 31st August 2024 166,549