COMPANY REGISTRATION NUMBER:
08427716
|
CIGNPOST FINANCIAL SERVICES LIMITED |
|
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
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CIGNPOST FINANCIAL SERVICES LIMITED |
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STATEMENT OF FINANCIAL POSITION |
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31 July 2024
|
31 Jul 24 |
31 Mar 23 |
|
Note |
£ |
£ |
£ |
|
|
|
|
Current assets
|
Debtors |
5 |
– |
|
2,680,598 |
|
---- |
|
------------- |
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Net current assets |
|
– |
2,680,598 |
|
|
---- |
------------- |
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Total assets less current liabilities |
|
– |
2,680,598 |
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|
---- |
------------- |
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|
|
|
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Capital and reserves
|
Called up share capital |
|
3,571,743 |
3,571,743 |
|
Share premium account |
|
66,668 |
66,668 |
|
Profit and loss account |
|
(
3,638,411) |
(
957,813) |
|
|
------------- |
------------- |
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Shareholders funds |
|
– |
2,680,598 |
|
|
------------- |
------------- |
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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 period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their 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
23 May 2025
, and are signed on behalf of the board by:
Company registration number:
08427716
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CIGNPOST FINANCIAL SERVICES LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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PERIOD FROM 1 APRIL 2023 TO 31 JULY 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 The Stables, Peper Harow, Godalming, GU8 6BQ.
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
and are prepared in sterling
, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. 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. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. No significant judgements or estimates have been made by management in the process of applying the entity's accounting policies that would have a significant effect on the amounts recognised in the financial statements.
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. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.
4.
Exceptional items
On 31 July 2024 group debts totalling £2.7M were waived resulting in a charge to the profit & loss account.
5.
Debtors
|
31 Jul 24 |
31 Mar 23 |
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
– |
2,680,598 |
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---- |
------------- |
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6.
Events after the end of the reporting period
On 1 August 2024 the ultimate parent company changed from Inchora Limited to Hatbox Group Limited.
7.
Related party transactions
The company has taken advantage of the exemption in FRS 102 for disclosure of transactions between group companies. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 (Section 1A).
8.
Controlling party
The immediate parent undertaking is
Cignpost Group Limited
. The ultimate parent undertaking was Inchora Limited to 31 July 2024. Copies of the Inchora Limited financial statements can be obtained from the Company Secretary at The Stables, Peper Harow, Godalming, GU8 6BQ. From 1 August 2024 the ultimate parent undertaking is Hatbox Group Limited.