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Registration number: 09134909

CSM Leicester Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

CSM Leicester Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

CSM Leicester Ltd

Company Information

Director

Mr Christopher William Mee

Registered office

Unit 8
Harcourt Way
Leicester
LE19 1WP

 

CSM Leicester Ltd

(Registration number: 09134909)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

252,008

376,881

Investment property

6

824,545

-

 

1,076,553

376,881

Current assets

 

Debtors

7

108,333

217,239

Cash at bank and in hand

 

13,984

112,630

 

122,317

329,869

Creditors: Amounts falling due within one year

8

(103,404)

(132,717)

Net current assets

 

18,913

197,152

Total assets less current liabilities

 

1,095,466

574,033

Creditors: Amounts falling due after more than one year

8

(927,970)

(291,177)

Net assets

 

167,496

282,856

Capital and reserves

 

Called up share capital

9

2

2

Other reserves

-

50,861

Retained earnings

167,494

231,993

Shareholders' funds

 

167,496

282,856

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

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

Approved and authorised by the director on 21 March 2025
 

.........................................
Mr Christopher William Mee
Director

 

CSM Leicester Ltd

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

1

General information

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

The address of its registered office is:
Unit 8
Harcourt Way
Leicester
LE19 1WP
England

These financial statements were authorised for issue by the director on 21 March 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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises 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 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.

 

CSM Leicester Ltd

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

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 2016 and 2017 onwards

25% then 10% on reducing balance

Fixtures and fittings

20% on reducing balance

Motor vehicles

25% on reducing balance

Office equipment

33% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

CSM Leicester Ltd

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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

33,310

49,363

 

CSM Leicester Ltd

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

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 July 2023

16,994

581,308

6,819

82,783

Additions

-

3,750

371

-

Disposals

(11,869)

(164,266)

(2,450)

(15,955)

At 30 June 2024

5,125

420,792

4,740

66,828

Depreciation

At 1 July 2023

11,752

239,206

5,639

54,426

Charge for the year

437

25,490

713

6,669

Eliminated on disposal

(8,813)

(73,320)

(2,449)

(14,273)

At 30 June 2024

3,376

191,376

3,903

46,822

Carrying amount

At 30 June 2024

1,749

229,416

837

20,006

At 30 June 2023

5,242

342,102

1,180

28,357

Total
£

Cost or valuation

At 1 July 2023

687,904

Additions

4,121

Disposals

(194,540)

At 30 June 2024

497,485

Depreciation

At 1 July 2023

311,023

Charge for the year

33,309

Eliminated on disposal

(98,855)

At 30 June 2024

245,477

Carrying amount

At 30 June 2024

252,008

At 30 June 2023

376,881

 

CSM Leicester Ltd

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

6

Investment properties

2024
£

Additions

824,545

At 30 June

824,545

There has been no valuation of investment property by an independent valuer.

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

34,022

181,371

Amounts owed by related parties

49,129

35,868

Prepayments

 

6,535

-

Other debtors

 

18,647

-

   

108,333

217,239

 

CSM Leicester Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

20,339

57,655

Trade creditors

 

38,059

48,246

Taxation and social security

 

1,545

24,740

Other creditors

 

43,461

2,076

 

103,404

132,717

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

927,970

291,177

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

ordinary of £1 each

2

2

2

2

         

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

377,970

91,177

Other borrowings

550,000

200,000

927,970

291,177

 

CSM Leicester Ltd

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

2024
£

2023
£

Current loans and borrowings

Bank borrowings

20,339

53,650

Hire purchase contracts

-

4,005

20,339

57,655