REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
FOR |
CB ARBITRATIONS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
FOR |
CB ARBITRATIONS LIMITED |
CB ARBITRATIONS LIMITED (REGISTERED NUMBER: 08929903) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CB ARBITRATIONS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
19-21 Middle Row |
Stevenage |
Hertfordshire |
SG1 3AW |
CB ARBITRATIONS LIMITED (REGISTERED NUMBER: 08929903) |
BALANCE SHEET |
30 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
CB ARBITRATIONS LIMITED (REGISTERED NUMBER: 08929903) |
BALANCE SHEET - continued |
30 MARCH 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
CB ARBITRATIONS LIMITED (REGISTERED NUMBER: 08929903) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
1. | STATUTORY INFORMATION |
CB Arbitrations Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 30th March 2024 have been prepared using the going concern basis of accounting. |
Significant judgements and estimates |
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
Turnover |
Turnover represents the gross revenue due in respect of the provision of arbitration services. |
Tangible fixed assets |
Office and computer equipment | - |
Motor vehicles | - |
Financial instruments |
The directors consider all financial instruments to be basic financial instruments in accordance with paragraph 11 of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost. |
Trade and other receivables and payables |
Trade and other receivables and payables are measured at amortised cost which approximates to fair value given the short term nature of these assets and liabilities. |
Trade receivables are valued at original invoice amount less an allowance for potentially un-collectable debts. Provision is made where there is objective evidence to suggest that the company will not be in a position to collect receivables as they fall due. Bad and Doubtful debts are written off in the profit and loss account on identification. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances held for the purposes of meeting short-term cash commitments. |
CB ARBITRATIONS LIMITED (REGISTERED NUMBER: 08929903) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Office |
and |
computer | Motor |
equipment | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 30 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 31 March 2023 |
The company acquired an electric vehicle at the end of the accounting period under a hire purchase agreement. Given the timing of the acquisition no depreciation or interest charges arise. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
CB ARBITRATIONS LIMITED (REGISTERED NUMBER: 08929903) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 APRIL 2023 TO 30 MARCH 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
Directors' current accounts | 4,137 | 13,231 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |