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Registered number: 11455726
Cfs Redundancy Payments Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 November 2024
AJ Fleet and Co Limited
Chartered Certified Accountants
Hyde Park House
Cartwright Street
Hyde
SK14 4EH
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 11455726
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 278 444
Tangible Assets 5 31,984 952
32,262 1,396
CURRENT ASSETS
Stocks 31,912 73,663
Debtors 6 246,096 222,767
Cash at bank and in hand 277,418 23,744
555,426 320,174
Creditors: Amounts Falling Due Within One Year 7 (264,801 ) (80,371 )
NET CURRENT ASSETS (LIABILITIES) 290,625 239,803
TOTAL ASSETS LESS CURRENT LIABILITIES 322,887 241,199
Creditors: Amounts Falling Due After More Than One Year 8 (10,950 ) (12,000 )
NET ASSETS 311,937 229,199
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 311,936 229,198
SHAREHOLDERS' FUNDS 311,937 229,199
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For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 November 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Myles Addison
Director
13/05/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Cfs Redundancy Payments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11455726 . The registered office is Hyde Park House c/o AJ Fleet and Co Limited, Cartwright Street, Hyde, Cheshire, SK14 4EH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets is a domain name. It is amortised to profit and loss account over its estimated economic life of 3 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Reducing balance
Computer Equipment 25% Reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 3)
4 3
4. Intangible Assets
Total
£
Cost
As at 1 December 2023 500
As at 30 November 2024 500
Amortisation
As at 1 December 2023 56
Provided during the period 166
As at 30 November 2024 222
Net Book Value
As at 30 November 2024 278
As at 1 December 2023 444
5. Tangible Assets
Total
£
Cost
As at 1 December 2023 1,094
Additions 34,060
As at 30 November 2024 35,154
Depreciation
As at 1 December 2023 142
Provided during the period 3,028
As at 30 November 2024 3,170
Net Book Value
As at 30 November 2024 31,984
As at 1 December 2023 952
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6. Debtors
2024 2023
£ £
Due after more than one year
Other debtors 4,332 790
Other debtors - Loan from connected party 202,151 202,151
Other debtors - MJM intercompany 6,000 -
212,483 202,941
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 12,709 9,519
Corporation tax 59,940 30,645
Other taxes and social security 5,041 484
VAT 70,705 10,755
Other creditors - 212
Other creditors - CA 2,667 5,078
Other creditors - Profit share 112,989 -
Accruals and deferred income 750 1,643
Director's loan account - 22,035
264,801 80,371
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors - Addison Lewis Ltd 10,950 12,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mr Myles Addison (22,035 ) 36,532 (1,311 ) - 13,186
The above loan is unsecured, interest free and repayable on demand. The loan was repaid within 9 months of the year end.
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11. Related Party Transactions
As at 30 November 2024, Six Step CFS Limited, the ultimate controlling party, owed the company £202,151. This loan is not interest bearing and is not due for repayment during the following twelve months.
As at 30 November 2024, the company owed C. Addison £2,667 (2023 £5,078), as shown in 'Other creditors'. C. Addison is a connected party of director M. Addison and a shareholder of Six Step CFS Limited, the controlling company. This loan is interest free.
During the year, the company made repayments to Addison Lewis Ltd, a company of which M. Addison is also a director and shareholder. The amount owing as at 30 November 2024 was £10,950 (2023 £12,000). This loan is interest free.
12. Ultimate Controlling Party
The company's ultimate controlling party is Six Step CFS Limited by virtue of the ownership of 100% of the issued share capital in the company.
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