CSC (Holdings) Limited Filleted accounts for Companies House (small and micro)

CSC (HOLDINGS) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03330075

CSC (Holdings) Limited

Filleted financial statements

31 December 2019

CSC (Holdings) Limited

Statement of financial position

31 December 2019

	2019		2018
Note	£	£	£	£

Fixed assets

Investments	5		863,458		863,458

Current assets

Debtors	6	8,886,877		8,886,877

Creditors: amounts falling due within one year	7	9,400,000		9,400,000
		-----------		-----------
Net current liabilities			513,123		513,123
			---------		---------
Total assets less current liabilities			350,335		350,335
			---------		---------

Capital and reserves

Called up share capital		107,700	107,700
Share premium account	8	69,300	69,300
Capital redemption reserve	8	10,000	10,000
Profit and loss account	8	163,335	163,335
		---------	---------
Shareholders funds		350,335	350,335
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

The company did not trade during the current year or prior year and has not made either a profit or loss.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 27 October 2020 , and are signed on behalf of the board by:

Ms J Shepard

Director

Company registration number: 03330075

CSC (Holdings) Limited

Notes to the financial statements

year ended 31st December 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Trimble House, Gelderd Road, Gildersome, Leeds, LS27 7JP.

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 preparation

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.

Going concern

On 3 January 2015, the trade and activities of the company were transferred to the immediate parent company of Cobco 867 Limited, Trible Solutions UK Limited. At 31 December 2019 the intermediate parent company; Cobco 867 Limited's liabilities exceeded its total assets by £4,622,898. The directors have obtained confirmation from Trimble Navigation Limited Group that they will continue to provide financial support as is required to allow Cobco 867 Limited to meet its operating liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements. The directors have a reasonable expectation that the wider group has adequate resources to provide support. We draw your attention to the fact that whilst the directors believe support from the ultimate parent company can be relied upon as this type of support has been offered to other companies within the wider group, the agreement of this support is not legally binding. The Covid 19 pandemic has not had a significant, immediate impact on the company's operations but the directors are aware that if the current situation becomes prolonged then this may change. Accordingly, the directors have assessed the financial position of the company and have concluded that it is appropriate to continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Income statement

The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in shareholders funds during the current year or prior year.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Particulars of employees

The company has no employees other than the directors.

5. Investments

	Shares in group undertakings
	£

Cost
At 1st January 2019 and 31st December 2019	863,458
	---------
Impairment
At 1st January 2019 and 31st December 2019	–
	---------

Carrying amount
At 31st December 2019	863,458
	---------
At 31st December 2018	863,458
	---------

6. Debtors

	2019	2018
	£	£

Amounts owed by group undertakings	8,886,877	8,886,877
	-----------	-----------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£

Amounts owed to group undertakings and undertakings in which the company has a participating interest	9,400,000	9,400,000
	-----------	-----------

8. Reserves

Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.

9. Summary audit opinion

The auditor's report for the year dated 27 October 2020 was unqualified.

The senior statutory auditor was Kevin Hoult BA FCA , for and on behalf of Sagars Accountants Ltd .

10. Controlling party

The ultimate controlling party of the entity is Trimble Inc, a company incorporated in the United States of America. The consolidated accounts for Trimble Inc can be obtained from www.trimble.com