Controlled Sol Group Ltd was CES - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04480079 (England and Wales)

CONTROLLED SOLUTIONS GROUP LIMITED

Unaudited Financial Statements for the Year Ended 31 July 2020

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D H Kirkland

REGISTERED OFFICE:

Unit 13a & 13b United Trading Estate

Old Trafford

Manchester

Greater Manchester

M16 0RJ

REGISTERED NUMBER:

04480079 (England and Wales)

ACCOUNTANTS:

Michael Dufty Partnership Limited

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

FIXED ASSETS

Intangible assets

4

60,000

160,000

Tangible assets

5

58,567

88,622

Investments

6

249,400

249,400

367,967

498,022

CURRENT ASSETS

Debtors

1,520,576

1,597,276

Cash at bank and in hand

145,056

898

1,665,632

1,598,174

CREDITORS

Amounts falling due within one year

764,753

702,635

NET CURRENT ASSETS

900,879

895,539

TOTAL ASSETS LESS CURRENT LIABILITIES

1,268,846

1,393,561

CREDITORS

Amounts falling due after more than one year

9,906

35,937

NET ASSETS

1,258,940

1,357,624

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Capital redemption reserve

10,000

10,000

Retained earnings

1,228,940

1,327,624

SHAREHOLDERS' FUNDS

1,258,940

1,357,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2020 and were signed by:

D H Kirkland - Director

1.	STATUTORY INFORMATION

Controlled Solutions Group Limited 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.

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

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.

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty 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.

Course material are being amortised evenly over their estimated useful life of five years.

Development costs have been fully amortised in the current year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1,195 (2019 - 1,396 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2019

and 31 July 2020

950,000

AMORTISATION

At 1 August 2019

790,000

Amortisation for year

100,000

At 31 July 2020

890,000

NET BOOK VALUE

At 31 July 2020

60,000

At 31 July 2019

160,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2019

464,386

Additions

5,361

Disposals

(10,000

)

At 31 July 2020

459,747

DEPRECIATION

At 1 August 2019

375,764

Charge for year

35,416

Eliminated on disposal

(10,000

)

At 31 July 2020

401,180

NET BOOK VALUE

At 31 July 2020

58,567

At 31 July 2019

88,622

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 August 2019

and 31 July 2020

53,316

DEPRECIATION

At 1 August 2019

12,721

Charge for year

13,329

At 31 July 2020

26,050

NET BOOK VALUE

At 31 July 2020

27,266

At 31 July 2019

40,595

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 August 2019

and 31 July 2020

249,400

NET BOOK VALUE

At 31 July 2020

249,400

At 31 July 2019

249,400

7.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank overdraft

-

200,800

Hire purchase contracts

35,937

42,335

35,937

243,135

The bank borrowings are secured by a debenture over the company's assets.

The hire purchase liability is secured on the assets to which the funding relates.

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2020 and 31 July 2019:

2020

2019

£

£

D H Kirkland

Balance outstanding at start of year

180,505

180,505

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

180,505

180,505