Cessi Holdings Limited - Period Ending 2020-05-31

Cessi Holdings Limited

Contents

Company Information	1
Accountants' Report	2
Statement of Financial Position	3
Notes to the Financial Statements	4 to 7

Cessi Holdings Limited

Company Information

Director

Michael Robert Sibbald

Company secretary

Graeme Michael Sibbald

Registered office

Arthur House Chorlton Street Manchester M1 3FH

Accountants

Gordon Levy Limited Chartered Accountants Arthur House Chorlton Street Manchester M1 3FH

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Cessi Holdings Limited
for the Year Ended 31 May 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cessi Holdings Limited for the year ended 31 May 2020 as set out on pages 3 to 7 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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

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

It is your duty to ensure that Cessi Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Cessi Holdings Limited. You consider that Cessi Holdings 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 accounts of Cessi Holdings 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 accounts.

......................................

Gordon Levy Limited
Chartered Accountants
Arthur House
Chorlton Street
Manchester
M1 3FH

18 May 2021

Cessi Holdings Limited

(Registration number: 08522639)
Statement of Financial Position as at 31 May 2020

	Note	2020 £	2019 £
Fixed assets
Investments	4	145	145
Current assets
Debtors	5	332,018	307,943
Creditors: Amounts falling due within one year	6	(651,821)	(627,131)
Net current liabilities		(319,803)	(319,188)
Net liabilities		(319,658)	(319,043)
Capital and reserves
Called up share capital		120	120
Profit and loss account		(319,778)	(319,163)
Total equity		(319,658)	(319,043)

For the financial year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 18 May 2021
 

.........................................

Michael Robert Sibbald

Director

Cessi Holdings Limited

Notes to the Financial Statements for the Year Ended 31 May 2020

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Arthur House
Chorlton Street
Manchester
M1 3FH

These financial statements were authorised for issue by the director on 18 May 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Cessi Holdings Limited

Notes to the Financial Statements for the Year Ended 31 May 2020

3	Staff numbers

The average number of persons employed by the company under contracts of service (including the director) during the year, was 0 (2019 - 0).

4	Investments

	2020 £	2019 £
Investments in subsidiaries	120	120
Investments in associates	25	25
	145	145

Subsidiaries	£
Cost or valuation
At 1 June 2019	120
Provision
Carrying amount
At 31 May 2020	120
At 31 May 2019	120

Associates	£
Cost
At 1 June 2019	25
Provision
Carrying amount
At 31 May 2020	25
At 31 May 2019	25

5

Debtors

	Note	2020 £	2019 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	7	332,018	307,943
Total current trade and other debtors		332,018	307,943

Cessi Holdings Limited

Notes to the Financial Statements for the Year Ended 31 May 2020

6

Creditors

	Note	2020 £	2019 £
Due within one year
Other creditors		651,821	627,131

7	Related party transactions

Loans to related parties

2020	Subsidiary £	Associates £
At start of period	233,614	74,329
Advanced	-	41,615
Repaid	(15,040)	(2,500)
At end of period	218,574	113,444

2019	Subsidiary £	Associates £
At start of period	298,708	71,520
Advanced	34,265	13,200
Repaid	(99,359)	(10,391)
At end of period	233,614	74,329

Terms of loans to related parties

Amounts owed by subsidiaries and associates are unsecured, interest free and repayable on demand.
 

Cessi Holdings Limited

Notes to the Financial Statements for the Year Ended 31 May 2020

Loans from related parties

2020	Key management £
At start of period	625,899
Advanced	41,614
Repaid	(16,308)
At end of period	651,205

2019	Key management £
At start of period	688,184
Advanced	47,465
Repaid	(109,750)
At end of period	625,899

Terms of loans from related parties

The loan amount owed to key management shown above, and included in other creditors, is the amount owed to the director, Michael Robert Sibbald. The loan is unsecured, interest free and repayable on demand.