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REGISTERED NUMBER: 08777953 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Cypress Ltd

Cypress Ltd (Registered number: 08777953)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cypress Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Tajinderpal S Obhrai
Deepinder Singh Obhrai





REGISTERED OFFICE: 173 Cleveland Street
London
W1T 6QR





REGISTERED NUMBER: 08777953 (England and Wales)





ACCOUNTANTS: Shah Dodhia & Co
173 Cleveland Street
London
W1T 6QR

Cypress Ltd (Registered number: 08777953)

Balance Sheet
31 August 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Intangible assets 5 6 6
Tangible assets 6 198,555 233,663
198,561 233,669

CURRENT ASSETS
Stocks 13,378 10,788
Debtors 7 106,456 119,905
Cash at bank and in hand 384,588 615,065
504,422 745,758
CREDITORS
Amounts falling due within one year 8 673,443 704,568
NET CURRENT (LIABILITIES)/ASSETS (169,021 ) 41,190
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,540

274,859

CREDITORS
Amounts falling due after more than one
year

9

656,393

692,185
NET LIABILITIES (626,853 ) (417,326 )

CAPITAL AND RESERVES
Called up share capital 1 1
Equity contribution reserve 171,718 171,718
Retained earnings (798,572 ) (589,045 )
(626,853 ) (417,326 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Cypress Ltd (Registered number: 08777953)

Balance Sheet - continued
31 August 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:





Tajinderpal S Obhrai - Director


Cypress Ltd (Registered number: 08777953)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Cypress Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 preparing the financial statements
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Cypress Ltd (Registered number: 08777953)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises of current tax. Tax is recognised in the Income Statement, 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 balance sheet date.

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.

Going concern
Notwithstanding net liabilities of £626,853 (2023: £417,326) these financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons:

The ability of the Company to remain as a going concern is dependent on the immediate parent company not seeking repayment of the amounts currently due to it and providing additional financial support the Company may require. The immediate parent has indicated its intention to make available such funds as are needed by the Company, and that it does not intend to seek repayment of the amounts due at the Balance Sheet date for the foreseeable future.

As with any company placing reliance on other group entities for financial support, the directors of the company acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.

On this basis, the directors believe it remains appropriate to prepare the financial statements on a going concern basis.

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 balance sheet 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.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at the amount receivable and subsequently adjusted for any impairment or other change in consideration expected to be received on settlement.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, are initially measured at the amount payable and subsequently adjusted for any change in consideration expected to be paid on settlement.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2023 - 55 ) .

Cypress Ltd (Registered number: 08777953)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£ £ £
COST
At 1 September 2023
and 31 August 2024 25,000 5 25,005
AMORTISATION
At 1 September 2023
and 31 August 2024 24,999 - 24,999
NET BOOK VALUE
At 31 August 2024 1 5 6
At 31 August 2023 1 5 6

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 September 2023 369,189 596,048 31,925 997,162
Additions 8,664 5,867 - 14,531
At 31 August 2024 377,853 601,915 31,925 1,011,693
DEPRECIATION
At 1 September 2023 293,668 446,342 23,489 763,499
Charge for year 16,837 31,115 1,687 49,639
At 31 August 2024 310,505 477,457 25,176 813,138
NET BOOK VALUE
At 31 August 2024 67,348 124,458 6,749 198,555
At 31 August 2023 75,521 149,706 8,436 233,663

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 4,417 68,669
Amounts owed by group undertakings 9,360 -
Amounts owed by related undertakings 42,718 -
Other debtors 49,961 51,236
106,456 119,905

Cypress Ltd (Registered number: 08777953)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans 50,400 50,400
Trade creditors 87,089 94,267
Amounts owed to group undertakings 23,600 118,000
Amounts owed to related undertakings - 117,776
Taxation and social security 89,304 88,232
Other creditors 423,050 235,893
673,443 704,568

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 66,315 116,376
Amounts owed to group undertakings 590,078 575,809
656,393 692,185

The company has received interest free loans of £632,235 (2023: £730,360) from the parent undertaking. The loan is unsecured and it has been renewed for another 5 years from September 2020. The loan balance is discounted at 3.125% per annum to its Net Present Value. The total discounted loan balance outstanding at the Balance sheet date was £613,678 (2023 : £693,809).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£ £
Tajinderpal S Obhrai
Balance outstanding at start of year 15,758 15,645
Amounts advanced - 113
Amounts repaid (15,758 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 15,758

Deepinder Singh Obhrai
Balance outstanding at start of year 27,315 27,315
Amounts advanced 277 -
Amounts repaid (27,592 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 27,315

11. RELATED PARTY DISCLOSURES

The company was charged rent of £236,050 (2023: £236,000) by its parent company for the year.

The directors confirm that there are no other related party transactions other than those disclosed in these financial statements, or from which disclosure exemption was taken, based on FRS 102.33.