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REGISTERED NUMBER: 12835487 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

CHOICES CPO 1 LTD

CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

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










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 8


CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 36,090 349
Investments 6 160,816 160,816
196,906 161,165

CURRENT ASSETS
Debtors: amounts falling due within one
year

7

801,122

797,822
Debtors: amounts falling due after more
than one year

7

1,566,779

698,616
Cash at bank 82,110 4,450
2,450,011 1,500,888
CREDITORS
Amounts falling due within one year 8 (1,365,128 ) (459,711 )
NET CURRENT ASSETS 1,084,883 1,041,177
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,281,789

1,202,342

CREDITORS
Amounts falling due after more than one
year

9

(1,212,289

)

(1,149,996

)
NET ASSETS 69,500 52,346

CAPITAL AND RESERVES
Called up share capital 150,000 150,000
Retained earnings 12 (80,500 ) (97,654 )
SHAREHOLDERS' FUNDS 69,500 52,346

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 April 2025 and were signed by:





A Zuk - Director


CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

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


1. STATUTORY INFORMATION

Choices CPO 1 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12835487

Registered office: Suite 1 11th Floor
Arrive, Blue Building
Mediacityuk
Salford Quays
M50 2ST

The principal activity of the company is that of financial intermediation.

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.

The presentation currency of the financial statements is the Pound Sterling (£) which is also the functional currency.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Choices CPO 1 Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reports. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are set out in the policies below:

There are no judgements included within the financial statements.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are set out below:

There are no key sources of estimation uncertainty.

CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

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


2. ACCOUNTING POLICIES - continued

GOING CONCERN
Choices CPO 1 Ltd continues to have greater assets than liabilities as well as regular inbound group investment, asset realisation and regular repayments from borrowers.

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

REVENUE RECOGNITION
Revenue is recognised at the point the right to consideration accrues through the performance of each distinct company service. The services provided are contractual and the costs of the service are incurred as the service is rendered.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated
residual value of each asset over its estimated useful life.

Computer equipment - 25% straight line
Motor vehicles - 15% reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

TAXATION
Taxation for the year comprises current and deferred 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 statement of financial position date.


CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

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


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

EMPLOYEE BENEFITS
The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expenses in the profit and loss account in the period in which they are incurred.

INTEREST RECEIVABLE AND INTEREST PAYABLE
Interest receivable on financial instrument obligations and interest payable on unlisted bonds issued by the Company are recognised on an accruals basis at the effective interest rate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. AUDITORS' REMUNERATION
31.8.24 31.8.23
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

12,850

12,000

CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

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


5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 - 699 699
Additions 39,094 974 40,068
At 31 August 2024 39,094 1,673 40,767
DEPRECIATION
At 1 September 2023 - 350 350
Charge for year 3,909 418 4,327
At 31 August 2024 3,909 768 4,677
NET BOOK VALUE
At 31 August 2024 35,185 905 36,090
At 31 August 2023 - 349 349

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:

Motor vehicles £35,185 (2023: £Nil)

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 103,001 57,815 160,816
NET BOOK VALUE
At 31 August 2024 103,001 57,815 160,816
At 31 August 2023 103,001 57,815 160,816

7. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 13,026 14,836
Loans 702,453 701,048
Other debtors 9,600 -
Deferred tax asset 11,903 17,622
Prepayments 64,140 64,316
801,122 797,822

CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

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


7. DEBTORS - continued
31.8.24 31.8.23
£    £   
Amounts falling due after more than one year:
Loans 1,495,513 563,210
Prepayments and accrued income 71,266 135,406
1,566,779 698,616

Aggregate amounts 2,367,901 1,496,438

Amounts owed by group undertakings are unsecured, interest free and are repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 10) 3,295 -
Trade creditors 17,408 72,814
Amounts owed to group undertakings 1,166,954 177,737
Other creditors 46,501 74,150
Other borrowings 102,857 125,010
Directors' loan accounts 12,693 -
Accruals and deferred income 15,420 10,000
1,365,128 459,711

Amounts owed to group undertakings are unsecured, interest free and are repayable on demand.

Other borrowings totalling £102,857 represent loans repayable in full by June 2025. One private loan amounting to £50,000 bears weekly interest at a rate of 1.25%. The second private loan amounting to £50,000 bears weekly interest at a rate of 2%.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 10) 30,782 -
Unlisted bonds 1,155,986 1,117,211
Other borrowings 25,521 32,785
1,212,289 1,149,996

Other borrowings totalling £25,521 represents a private loan repayable in full by December 2026. The private loan amounting to £25,000 bears weekly interest at a rate of 1%.

CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

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


10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.8.24 31.8.23
£    £   
Net obligations repayable:
Within one year 3,295 -
Between one and five years 30,782 -
34,077 -

Non-cancellable operating leases
31.8.24 31.8.23
£    £   
Within one year 576 10,560

11. DEFERRED TAX
£   
Balance at 1 September 2023 (17,622 )
Charge to Statement of Income and Retained Earnings during year 5,719
Balance at 31 August 2024 (11,903 )

12. RESERVES
Retained
earnings
£   

At 1 September 2023 (97,654 )
Profit for the year 17,154
At 31 August 2024 (80,500 )

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Helen Tidyman (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited

14. DIRECTORS' TRANSACTIONS

During the year ended 31 August 2024, advances of £457,950 (2023: £156,737) were made by the director. Repayments of £441,492 (2023: £173,192) were made during the year by the director and the maximum overdrawn amount outstanding by the director was £157,154 (2023: £35,806) which was fully repaid in the year.

15. POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statement by the board.

CHOICES CPO 1 LTD (REGISTERED NUMBER: 12835487)

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


16. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Alexander Atherden-Zuk.