Company Registration No. 07453631 (England and Wales)
C&S Finance Limited
Unaudited accounts
for the year ended 30 November 2024
C&S Finance Limited
Unaudited accounts
Contents
C&S Finance Limited
Company Information
for the year ended 30 November 2024
Company Number
07453631 (England and Wales)
Registered Office
4 Porchester Terrace
London
W2 3TL
ENGLAND
Accountants
Infinity Accountants
27 Coniston Gardens
Pinner
Middlesex
HA5 2JN
C&S Finance Limited
Statement of financial position
as at 30 November 2024
Investment property
1,287,752
1,280,120
Cash at bank and in hand
23,126
995
Creditors: amounts falling due within one year
(1,126,536)
(1,089,597)
Net current liabilities
(1,099,179)
(1,055,825)
Total assets less current liabilities
188,779
224,570
Creditors: amounts falling due after more than one year
(447,078)
(450,439)
Net liabilities
(258,299)
(225,869)
Called up share capital
100
100
Profit and loss account
(258,399)
(225,969)
Shareholders' funds
(258,299)
(225,869)
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 August 2025 and were signed on its behalf by
Mr S Kazolides
Director
Company Registration No. 07453631
C&S Finance Limited
Notes to the Accounts
for the year ended 30 November 2024
C&S Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 07453631. The registered office is 4 Porchester Terrace, London, W2 3TL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance Method
Investment property, leasehold or freehold, is initially recorded at cost, which includes purchase price and directly attributable expenditure.
In accordance with FRS102, investment properties whose fair value can be measures reliably without undue cost or efforts are measured at fair value at each reporting date and any changes in fair value are recognised in profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
As at the balance sheet date the company's current liabilities exceeded its current assets. The director, however, considers that the company has sufficient support from its creditors. The director has provided loans to the company and has confirmed that he will not recall the loan for repayment until the company is in position to do so. Therefore, the accounts are prepared on a going concern basis.
C&S Finance Limited
Notes to the Accounts
for the year ended 30 November 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 December 2023
1,280,120
At 30 November 2024
1,287,752
Investment properties have been valued by the director on an open market basis on 30 November 2024.
Amounts falling due within one year
Accrued income and prepayments
231
957
Other debtors
4,000
31,820
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
39,200
39,200
Other creditors
715,586
670,340
Loans from directors
355,302
377,302
Included in other creditors is an amount owed to Polystep Limited in the sum of £717,099 (2023: £671,852). The loan is payable on demand. C&S Finance Limited and Polystep Limited are connected by virtue of a common director.
C&S Finance Limited
Notes to the Accounts
for the year ended 30 November 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
447,078
450,439
The bank loans totalling £486,278 (2023: £489,639) are secured by first legal charge over the leasehold investment properties, personal guarantees have been provided by the director for the amount of £825,000 and further guarantees have been provided by a company related to the director.
9
Transactions with related parties
Included in other creditors is an amount owed to Polystep Limited in the sum of £717,099 (2023: £671,852). The loan is payable on demand. C&S Finance Limited and Polystep Limited are connected by virtue of a common director.
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).