CSB Assets Limited SC734574 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is property rental. Digita Accounts Production Advanced 6.30.9574.0 true SC734574 2023-07-01 2024-06-30 SC734574 2024-06-30 SC734574 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC734574 core:RevaluationReserve 2024-06-30 SC734574 core:ShareCapital 2024-06-30 SC734574 core:CurrentFinancialInstruments 2024-06-30 SC734574 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 SC734574 core:Non-currentFinancialInstruments 2024-06-30 SC734574 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 SC734574 bus:SmallEntities 2023-07-01 2024-06-30 SC734574 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC734574 bus:FilletedAccounts 2023-07-01 2024-06-30 SC734574 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC734574 bus:RegisteredOffice 2023-07-01 2024-06-30 SC734574 bus:Director1 2023-07-01 2024-06-30 SC734574 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC734574 bus:Agent1 2023-07-01 2024-06-30 SC734574 countries:Scotland 2023-07-01 2024-06-30 SC734574 2023-06-30 SC734574 2022-07-01 2023-06-30 SC734574 2023-06-30 SC734574 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC734574 core:RevaluationReserve 2023-06-30 SC734574 core:ShareCapital 2023-06-30 SC734574 core:CurrentFinancialInstruments 2023-06-30 SC734574 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 SC734574 core:Non-currentFinancialInstruments 2023-06-30 SC734574 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 iso4217:GBP xbrli:pure

Registration number: SC734574

CSB Assets Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

CSB Assets Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

Accountants' Report

6

 

CSB Assets Limited

Company Information

Director

Mr Christopher Bauer

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

Accountants

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

CSB Assets Limited

(Registration number: SC734574)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

225,980

131,788

Current assets

 

Cash at bank and in hand

 

1,573

917

Creditors: Amounts falling due within one year

5

(97,024)

(132,812)

Net current liabilities

 

(95,451)

(131,895)

Total assets less current liabilities

 

130,529

(107)

Creditors: Amounts falling due after more than one year

5

(130,616)

-

Net liabilities

 

(87)

(107)

Capital and reserves

 

Called up share capital

1

-

Revaluation reserve

2,000

-

Retained earnings

(2,088)

(107)

Shareholders' deficit

 

(87)

(107)

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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 October 2024
 

.........................................
Mr Christopher Bauer
Director

 

CSB Assets Limited

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 Scotland.

2

Accounting policies

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.

Going concern

It is the opinion of the director that there is reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. For this reason the going concern basis has been adopted in preparing the financial statements for the period ended 30 June 2024.

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

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.

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.

 

CSB Assets Limited

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

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 July

131,788

Additions

92,192

Fair value adjustments

2,000

At 30 June

225,980

The fair value of one of the company's investment properties was revalued on 30 June 2024 by an independent valuer.

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

10,445

-

Other creditors

 

86,579

132,812

 

97,024

132,812

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

130,616

-

 

CSB Assets Limited

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

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

130,616

-

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,445

-

7

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

2024
 £

2023
 £

Mr Christopher Bauer

34,856

30,564

 

34,856

30,564

The maximum balance outstanding during the year amounted to £34,856.

The director current account is repayable on demand.

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
CSB Assets Limited
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CSB Assets Limited for the year ended 30 June 2024 as set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of CSB Assets Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of CSB Assets Limited and state those matters that we have agreed to state to the Board of Directors of CSB Assets Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CSB Assets Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that CSB Assets Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of CSB Assets Limited. You consider that CSB Assets Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of CSB Assets Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

30 October 2024