Credit Sureties Company Limited - Accounts to registrar (filleted) - small 18.2
Credit Sureties Company Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2020 |
for |
Credit Sureties Company Limited |
Credit Sureties Company Limited (Registered number: 00544525) |
Contents of the Financial Statements |
for the Year Ended 30 April 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Credit Sureties Company Limited |
Company Information |
for the Year Ended 30 April 2020 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
63 Broad Green |
Wellingborough |
Northamptonshire |
NN8 4LQ |
SOLICITORS: |
16 St Cuthberts Street |
Bedford |
Beds |
MK40 3JG |
Credit Sureties Company Limited (Registered number: 00544525) |
Balance Sheet |
30 April 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium | 11 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
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. |
Credit Sureties Company Limited (Registered number: 00544525) |
Balance Sheet - continued |
30 April 2020 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Credit Sureties Company Limited (Registered number: 00544525) |
Notes to the Financial Statements |
for the Year Ended 30 April 2020 |
1. | STATUTORY INFORMATION |
Credit Sureties Company Limited is a private company , registered in England and Wales. 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 |
Revenue |
Revenue represents amounts chargeable to customers during the year, excluding Value Added Tax. Goods and services provided to customers, which at the balance sheet date have not been invoiced, have been recognised as revenue. Revenue recognised in this manner is based on an assessment of the fair value of the goods/services provided at the balance sheet date as a proportion of the total value of the goods/services contracted for. Revenue is only recognised where the company has a contractual right to receive consideration for the goods/services provided. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Credit Sureties Company Limited (Registered number: 00544525) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 May 2019 |
and 30 April 2020 |
DEPRECIATION |
At 1 May 2019 |
and 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
5. | FIXED ASSET INVESTMENTS |
Other |
investment |
£ |
COST OR VALUATION |
At 1 May 2019 |
Additions |
Disposals | ( |
) |
Revaluations |
At 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2019 |
and 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
Investment properties has been measured at fair value which is the open market value of the properties and were valued by Brown & Lee Chartered Surveyors on 1st April 2016. The fair value adjustment has been taken through the profit and loss account. |
The directors have reviewed these valuations at each year end and are of the opinion that there has been no material changed. |
Credit Sureties Company Limited (Registered number: 00544525) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
9. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax | 141,135 | 165,092 |
Deferred |
tax |
£ |
Balance at 1 May 2019 |
Fair value movements | (23,957 | ) |
Balance at 30 April 2020 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
Ordinary | £1 | 227,000 | 227,000 |
11. | RESERVES |
Included within retained earnings at the year end are fair value reserves relating to the company's investments of £1,162,397 (2019 - £1,286,676) which are non distributable until realized on disposal. |