CCS Properties London Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00821539

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2018

FOR

CCS PROPERTIES LONDON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

Mr M F Cox FCA

Mr A K Shah ACA

REGISTERED OFFICE:

14-15 Lower Grosvenor Place

London

SW1W 0EX

REGISTERED NUMBER:

00821539

ACCOUNTANTS:

Cox Costello & Horne

Chartered Accountants and Tax Advisors

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

-

-

Investment property

6

280,000

280,000

280,000

280,000

CURRENT ASSETS

Debtors

7

-

45,616

Cash at bank

10,523

-

10,523

45,616

CREDITORS

Amounts falling due within one year

8

26,271

19,080

NET CURRENT (LIABILITIES)/ASSETS

(15,748

)

26,536

TOTAL ASSETS LESS CURRENT LIABILITIES

264,252

306,536

CREDITORS

Amounts falling due after more than one year

9

-

(87,873

)

PROVISIONS FOR LIABILITIES

(50,373

)

(50,373

)

NET ASSETS

213,879

168,290

CAPITAL AND RESERVES

Called up share capital

6

6

Fair value reserve

11

217,606

217,606

Retained earnings

(3,733

)

(49,322

)

SHAREHOLDERS' FUNDS

213,879

168,290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 28 June 2019 and were signed on its behalf by:

Mr M F Cox FCA - Director

Mr A K Shah ACA - Director

1.	STATUTORY INFORMATION

CCS Properties London Limited is a private company, limited by shares , registered in Not specified/Other. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

The company meets its day-to-day working capital requirements through its bank facility. The company's

forecasts and projections, taking account of reasonably possible changes in trading performance, show that the

company should be able to operate within the level of its current facilities. After making enquiries, the directors

have a reasonable expectation that the company has adequate resources to continue in operational existence

for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its

financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover comprises revenue recognised by the company in respect of good and services supplied. Turnover is

measured as the fair value of the consideration received or receivable, excluding discounts and rebates.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

in accordance with the property

Plant and machinery etc

-

15% on reducing balance

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated

impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the

location and condition necessary for it to be capable of operating in the manner intended by management.

Investment property

Investment property consists of property held for long-term rental yields or for capital appreciation or both, and

not held for the social benefit or for use in the business. Investment property is measured at cost, including

related transaction costs, on initial recognition and subsequently at fair value as at the year end, with changes in

fair value recognised in profit and loss. Subsequent expenditure is capitalised to the asset's carrying value only

when it is probable that future economic benefits associated with the expenditure will flow to the company. All

other repairs and maintenance costs are expensed when incurred. Fair value is determined by either

independent professional third party valuers or company officers, such as the directors. Depreciation is not

provided in respect of the investment properties. Fair value of investment property reflects, among other things,

rental income from current leases and other assumptions market participants would make when pricing the

property under current market conditions.

Financial instruments

a) Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost

using the effective interest method, less any impairment.

b) Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related

parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction,

where the debt instrument is measured at the present value of the future payments discounted at a market rate

of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less

any impairment.

c) Cash at bank and in hand

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term highly liquid investments that mature in no more than three months from the date of acquisition

and that are readily convertible to known amounts of cash with insignificant risk of change in value.

d) Interest income

Interest income is recognised in profit or loss using the effective interest method.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised

as other comprehensive income or to an item recognised directly in equity is also recognised in other

comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by

the balance sheet date, except that:

-

the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

-

any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2017

20,000

Disposals

(20,000

)

At 30 September 2018

-

AMORTISATION

At 1 October 2017

20,000

Eliminated on disposal

(20,000

)

At 30 September 2018

-

NET BOOK VALUE

At 30 September 2018

-

At 30 September 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2017

8,893

2,462

11,355

Disposals

(8,893

)

(2,462

)

(11,355

)

At 30 September 2018

-

-

-

DEPRECIATION

At 1 October 2017

8,893

2,462

11,355

Eliminated on disposal

(8,893

)

(2,462

)

(11,355

)

At 30 September 2018

-

-

-

NET BOOK VALUE

At 30 September 2018

-

-

-

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2017

and 30 September 2018

280,000

NET BOOK VALUE

At 30 September 2018

280,000

At 30 September 2017

280,000

Fair value at 30 September 2018 is represented by:

£

Valuation in 1996

43,009

Valuation in 2015

55,000

Valuation in 2017

181,991

280,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Other debtors

-

45,616

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.18

30.9.17

£

£

Bank overdraft

-

9,208

Taxation and social security

9,747

9,874

Other creditors

16,524

(2

)

26,271

19,080

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.18

30.9.17

£

£

Other creditors

-

87,873

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.18

30.9.17

£

£

Other loans

-

87,873

Debt is secured over the property concerned.

11.

RESERVES

Fair

value

reserve

£

At 1 October 2017

and 30 September 2018

217,606

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2018 and

30 September 2017:

30.9.18

30.9.17

£

£

Mrs H M Landolfi

Balance outstanding at start of year

50,189

31,644

Amounts advanced

-

18,545

Amounts repaid

(50,189

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

50,189

Mr A Landolfi

Balance outstanding at start of year

757

757

Amounts repaid

(757

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

757

The outstanding balances were repaid within nine months after the reporting date.

13.	ULTIMATE CONTROLLING PARTY

At the reporting date, in the opinion of the directors, there is no ultimate single individual controlling party. There

has been no change between the reporting date and date of approval of the financial statements.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of CCS Properties London Limited for the year ended 30 September 2018 which comprise the Profit

and loss account, Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of CCS Properties London Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CCS Properties London Limited and state those matters that we have agreed to state to the Board of Directors of CCS Properties London Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CCS Properties London Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that CCS Properties London Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of CCS Properties London Limited. You consider that CCS Properties London Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of CCS Properties London Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cox Costello & Horne

Chartered Accountants and Tax Advisors

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

28 June 2019