Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr R A Rose 15/07/1999 17 March 2025 The principal activity of the Company during the financial year was that of a holding company for insurance broking subsidiaries in the USA largely dealing with insurance placements for the years from 1999 to 2002 which are now in run-off.

CPSR Holdings Limited also provides management services for a company providing similar services in the insurance industry.

The directors do not consider the company to be undertaking any activity which would require regulation by the Financial Authority Conduct.
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Company No: 03766180 (England and Wales)

CPSR HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

CPSR HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CPSR HOLDINGS LIMITED

BALANCE SHEET

As at 31 March 2024
CPSR HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 529 529
529 529
Current assets
Debtors 4 243,838 126,776
Cash at bank and in hand 54,436 202,637
298,274 329,413
Creditors: amounts falling due within one year 5 ( 852,074) ( 881,935)
Net current liabilities (553,800) (552,522)
Total assets less current liabilities (553,271) (551,993)
Net liabilities ( 553,271) ( 551,993)
Capital and reserves
Called-up share capital 1,131 1,131
Profit and loss account ( 554,402 ) ( 553,124 )
Total shareholders' deficit ( 553,271) ( 551,993)

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

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of CPSR Holdings Limited (registered number: 03766180) were approved and authorised for issue by the Director on 17 March 2025. They were signed on its behalf by:

Mr R A Rose
Director
CPSR HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CPSR HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

CPSR Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom. The principal place of business is Ashe Warren Cottage, Ashe Warren, Basingstoke, Hampshire, RG25 3AP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The financial statements have been prepared on a going concern basis. The company is reliant on the continued financial support of its directors, members and certain related entities in order to continue to trade. The directors consider the company to be a going concern and have no reason to consider that the support of the other entities under common control will not continue. Accordingly the financial statements have been prepared on a going concern basis and do not reflect any of the adjustments that may be necessary should the company fail to do so.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation 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.

Fixed asset investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable..

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 April 2023 529
At 31 March 2024 529
Carrying value at 31 March 2024 529
Carrying value at 31 March 2023 529

4. Debtors

2024 2023
£ £
Trade debtors 17,100 23,751
Other debtors 226,738 103,025
243,838 126,776

Included within other debtors is a loan of £108,000 due from a shareholder of the company, which is interest free and repayable on demand.

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 227 3,428
Taxation and social security 20,308 5,012
Other creditors 831,539 873,495
852,074 881,935