8 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 41,217 3,500 44,717 44,717 41,217 xbrli:pure xbrli:shares iso4217:GBP 06671640 2023-09-01 2024-08-31 06671640 2024-08-31 06671640 2023-08-31 06671640 2022-09-01 2023-08-31 06671640 2023-08-31 06671640 2022-08-31 06671640 core:LandBuildings core:LongLeaseholdAssets 2023-09-01 2024-08-31 06671640 core:FurnitureFittings 2023-09-01 2024-08-31 06671640 core:MotorVehicles 2023-09-01 2024-08-31 06671640 bus:Director1 2023-09-01 2024-08-31 06671640 core:LandBuildings 2023-08-31 06671640 core:FurnitureFittings 2023-08-31 06671640 core:MotorVehicles 2023-08-31 06671640 core:LandBuildings 2024-08-31 06671640 core:FurnitureFittings 2024-08-31 06671640 core:MotorVehicles 2024-08-31 06671640 core:LandBuildings 2023-09-01 2024-08-31 06671640 core:WithinOneYear 2024-08-31 06671640 core:WithinOneYear 2023-08-31 06671640 core:ShareCapital 2024-08-31 06671640 core:ShareCapital 2023-08-31 06671640 core:RetainedEarningsAccumulatedLosses 2024-08-31 06671640 core:RetainedEarningsAccumulatedLosses 2023-08-31 06671640 core:CostValuation core:Non-currentFinancialInstruments 2023-08-31 06671640 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-08-31 06671640 core:CostValuation core:Non-currentFinancialInstruments 2024-08-31 06671640 core:Non-currentFinancialInstruments 2024-08-31 06671640 core:Non-currentFinancialInstruments 2023-08-31 06671640 core:LandBuildings 2023-08-31 06671640 core:FurnitureFittings 2023-08-31 06671640 core:MotorVehicles 2023-08-31 06671640 bus:SmallEntities 2023-09-01 2024-08-31 06671640 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 06671640 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 06671640 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 06671640 bus:FullAccounts 2023-09-01 2024-08-31 06671640 core:OfficeEquipment 2023-09-01 2024-08-31 06671640 core:OfficeEquipment 2023-08-31 06671640 core:OfficeEquipment 2024-08-31
COMPANY REGISTRATION NUMBER: 06671640
C I 4 U GB Nationwide Limited
Filleted Unaudited Financial Statements
31 August 2024
C I 4 U GB Nationwide Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
61,102
66,673
Investments
6
44,717
41,217
----------
----------
105,819
107,890
Current assets
Debtors
7
6,618
8,782
Cash at bank and in hand
797,828
589,067
----------
----------
804,446
597,849
Creditors: amounts falling due within one year
8
568,525
473,650
----------
----------
Net current assets
235,921
124,199
----------
----------
Total assets less current liabilities
341,740
232,089
----------
----------
Net assets
341,740
232,089
----------
----------
C I 4 U GB Nationwide Limited
Statement of Financial Position (continued)
31 August 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
10,500
10,500
Profit and loss account
331,240
221,589
----------
----------
Shareholders funds
341,740
232,089
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 April 2025 , and are signed on behalf of the board by:
Mr S Bond
Director
Company registration number: 06671640
C I 4 U GB Nationwide Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Clinton Avenue, Nottingham, Nottinghamshire, NG5 1AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
12% reducing balance
Fixtures, fittings and equipment
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
20% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 7 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 September 2023
2,981
82,001
12,000
19,926
116,908
Additions
2,000
4,925
6,925
-------
---------
---------
---------
----------
At 31 August 2024
2,981
84,001
12,000
24,851
123,833
-------
---------
---------
---------
----------
Depreciation
At 1 September 2023
2,344
32,631
4,126
11,134
50,235
Charge for the year
80
7,705
1,968
2,743
12,496
-------
---------
---------
---------
----------
At 31 August 2024
2,424
40,336
6,094
13,877
62,731
-------
---------
---------
---------
----------
Carrying amount
At 31 August 2024
557
43,665
5,906
10,974
61,102
-------
---------
---------
---------
----------
At 31 August 2023
637
49,370
7,874
8,792
66,673
-------
---------
---------
---------
----------
6. Investments
Other investments other than loans
£
Cost
At 1 September 2023
41,217
Additions
3,500
---------
At 31 August 2024
44,717
---------
Impairment
At 1 September 2023 and 31 August 2024
---------
Carrying amount
At 31 August 2024
44,717
---------
At 31 August 2023
41,217
---------
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
6,618
6,054
Other debtors
2,728
-------
-------
6,618
8,782
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
459,691
419,607
Corporation tax
65,196
34,805
Social security and other taxes
2,133
1,334
Directors current accounts
817
484
Other creditors
40,688
17,420
----------
----------
568,525
473,650
----------
----------
9. Related party transactions
The company is wholly owned by Bond-Parrish Holding Limited, the company's parent company. During the year the company paid a dividend of £81,000 (2023:£100,000) to Bond-Parrish Holding Limited. A loan balance of £6,618 (2023:£6,054) was due to C I 4 U GB Nationwide Ltd at the year end. During the year the director has lent money to the company on an unsecured interest free basis. The amount outstanding on this loan at the year end was £817 (2023:£484).