Company Registration No. 14116350 (England and Wales)
CJS11 Limited
Unaudited financial statements
for the year ended 31 March 2024
Pages for filing with the registrar
CJS11 Limited
Contents
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
CJS11 Limited
Statement of financial position
As at 31 March 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
585,000
500,000
Current assets
Debtors
5
166,558
11,068
Cash at bank and in hand
98
17,431
166,656
28,499
Creditors: amounts falling due within one year
6
(426,086)
(271,242)
Net current liabilities
(259,430)
(242,743)
Total assets less current liabilities
325,570
257,257
Creditors: amounts falling due after more than one year
7
(203,750)
(203,750)
Net assets
121,820
53,507
Capital and reserves
Called up share capital
360
360
Revaluation reserve
226,701
141,701
Profit and loss reserves
(105,241)
(88,554)
Total equity
121,820
53,507
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CJS11 Limited
Statement of financial position (continued)
As at 31 March 2024
2
The financial statements were approved by the board of directors and authorised for issue on 30 April 2025 and are signed on its behalf by:
C J Shenton
Director
Company Registration No. 14116350
CJS11 Limited
Statement of changes in equity
For the year ended 31 March 2024
3
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 June 2022
-
Period ended 31 March 2023:
Loss
-
-
(88,554)
(88,554)
Other comprehensive income:
Revaluation of tangible fixed assets
-
141,701
-
141,701
Total comprehensive income
-
141,701
(88,554)
53,147
Issue of share capital
360
-
-
360
Balance at 31 March 2023
360
141,701
(88,554)
53,507
Year ended 31 March 2024:
Loss
-
-
(16,687)
(16,687)
Other comprehensive income:
Revaluation of tangible fixed assets
-
85,000
-
85,000
Total comprehensive income
-
85,000
(16,687)
68,313
Balance at 31 March 2024
360
226,701
(105,241)
121,820
CJS11 Limited
Notes to the financial statements
For the year ended 31 March 2024
4
1
Accounting policies
Company information
CJS11 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Oxford Court, Manchester, M2 3WQ, England.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include investment properties at fair value]. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover consists of rental income received, net of VAT and other sales related taxes, in relation to the provision of short term rental property contracts.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
CJS11 Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
1
Accounting policies (continued)
5
Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
CJS11 Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
6
3
Employees
The average monthly number of persons (excluding non-remunerated directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
Investment property
2024
£
Fair value
At 1 April 2023
500,000
Revaluations
85,000
At 31 March 2024
585,000
The fair value of the investment property has been arrived at using an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
8,885
Amounts owed by group undertakings
200
200
Other debtors
157,473
10,868
166,558
11,068
Included within other debtors is £137,091 (2023: £Nil ) due from other related parties, as detailed in the related party note.
CJS11 Limited
Notes to the financial statements (continued)
For the year ended 31 March 2024
7
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
30,000
Trade creditors
68,469
17,264
Taxation and social security
251,417
99,734
Other creditors
106,200
124,244
426,086
271,242
Included within other creditors is £91,200 (2023: £122,944) due to other related parties, as detailed in the related party note.
Included in bank loans is a loan of £Nil (2023: £30,000) which is secured by way of fixed and floating charges on the assets of the company.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
203,750
203,750
Included in bank loans is a loan of £203,750 (2023: £203,750) which is secured by way of fixed and floating charges on the assets of the company.
8
Related party transactions
2024
2023
Amounts due to related parties
£
£
Other related parties
91,200
122,944
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
200
200
Other related parties
137,091
-
9
Parent company
CJS11 Limited is a wholly owned subsidiary of Shenton Property Ltd.