CS Integration Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02786517 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2018 TO 15 APRIL 2019

FOR

CS INTEGRATION LTD

PREVIOUSLY KNOWN AS

NOVI SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M A Copley

A R Copley

SECRETARY:

A R Copley

REGISTERED OFFICE:

Colwick Quays Business Park

Private Road No 2

Colwick

Nottingham

NG4 2JY

REGISTERED NUMBER:

02786517 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Magma House

16 Davy Court

Castle Mound Way

Rugby

CV23 0UZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

-

2,116

-

2,116

CURRENT ASSETS

Stocks

98,234

129,000

Debtors

6

271,044

188,343

Cash at bank

263,826

149,866

633,104

467,209

CREDITORS

Amounts falling due within one year

7

(162,990

)

(132,114

)

NET CURRENT ASSETS

470,114

335,095

TOTAL ASSETS LESS CURRENT LIABILITIES

470,114

337,211

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

470,014

337,111

470,114

337,211

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 15 April 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 15 April 2019 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 applicable to companies subject to the small companies regime.

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 13 January 2020 and were signed on its behalf by:

A R Copley - Director

1.	STATUTORY INFORMATION

CS Integration Ltd is a limited company, registered in England and Wales. Its registered office address is

Colwick Quays Business Park, Private Road No 2, Colwick, Nottingham, NG4 2JY and the registered number is

02786517.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared on a basis other than going concern, which is described as the

break-up basis. The company has ceased to trade after the period end and therefore the financial statements

have been prepared under the break up basis. The break up basis requires the carrying value of all the assets to

be at the amounts they are expected to realise and liabilities include any amounts which have crystalised as a

result of the decision to wind up the company.

The presentation currency of the financial statements is the Pound Sterling (£).

Significant judgements and estimates

The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Turnover

Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in

accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

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.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets

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

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful

lives, using a reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery

-33% straight line

Fixtures, fittings and equipment

-20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if

appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are

recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based

on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and

attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is

reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in

profit or loss.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to

related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

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.

Taxation

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

Tax is recognised in profit and loss except that a charge 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred. Development

expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met:

- it is technically feasible to complete the intangible asset so that it will be available for us or sale;

- there is the intention to complete the intangible asset and use or sell it;

- there is the ability to use or sell the intangible asset;

- the use or sale of the intangible will generate probably future economic benefits;

- there are adequate technical, financial and other resources available to complete the development and to use

or sell the intangible asset; and

- the expenditure attributable to the intangible asset during ins development can be measured reliably.

Expenditure that does not meet the above criteria is expensed as incurred.

Operating leases

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments

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

Pension costs and other post-retirement benefits

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.

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.

Cash and cash equivalents

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2018 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 April 2018

and 15 April 2019

403,456

AMORTISATION

At 1 April 2018

and 15 April 2019

403,456

NET BOOK VALUE

At 15 April 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2018

and 15 April 2019

44,346

40,923

85,269

DEPRECIATION

At 1 April 2018

44,320

38,833

83,153

Charge for period

26

2,090

2,116

At 15 April 2019

44,346

40,923

85,269

NET BOOK VALUE

At 15 April 2019

-

-

-

At 31 March 2018

26

2,090

2,116

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

267,217

162,925

Other debtors

3,827

25,418

271,044

188,343

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

35,343

53,156

Taxation and social security

52,049

25,978

Other creditors

75,598

52,980

162,990

132,114