Cisse Properties Limited - Accounts to registrar (filleted) - small 18.2

Cisse Properties Limited - Accounts to registrar (filleted) - small 18.2

CISSE PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 06945591 (England and Wales)















Financial Statements for the Year Ended 30 June 2021

for

Cisse Properties Limited
Cisse Properties Limited (Registered number: 06945591)






Contents of the Financial Statements
for the Year Ended 30 June 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cisse Properties Limited

Company Information
for the Year Ended 30 June 2021







DIRECTORS: P D Harrison
Mrs S L Harrison





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 06945591 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW
Page 1
Cisse Properties Limited (Registered number: 06945591)

Balance Sheet
30 June 2021

30.6.21 30.6.20
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 255,000 255,000

CURRENT ASSETS
Debtors 5 72,579 73,008
Cash at bank 7,952 14,019
80,531 87,027
CREDITORS
Amounts falling due within one year 6 174,131 139,812
NET CURRENT LIABILITIES (93,600 ) (52,785 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
161,400
202,215

CREDITORS
Amounts falling due after more than one
year
7
(159,075
)
(188,250
)

PROVISIONS FOR LIABILITIES (482 ) (482 )
NET ASSETS 1,843 13,483

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,743 13,383
SHAREHOLDERS' FUNDS 1,843 13,483

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 notes form part of these financial statements

Page 2 continued...
Cisse Properties Limited (Registered number: 06945591)

Balance Sheet - continued
30 June 2021


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2022 and were signed on its behalf by:





P D Harrison - Director


The notes form part of these financial statements

Page 3
Cisse Properties Limited (Registered number: 06945591)

Notes to the Financial Statements
for the Year Ended 30 June 2021

1. STATUTORY INFORMATION

Cisse Properties 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.

Despite the net current liabilities position at the year end and the company being affected by Covid-19 during the year the directors still feel the going concern basis of the preparation of the financial statements is still appropriate as the directors will continue to financially support the company during any uncertain period.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is derived from ordinary activities which consist of rental income which is exempt from VAT and recognised on an accruals basis.

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.

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

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.

Page 4 continued...
Cisse Properties Limited (Registered number: 06945591)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 1 ).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2020
and 30 June 2021 255,000
NET BOOK VALUE
At 30 June 2021 255,000
At 30 June 2020 255,000

The investment properties have been revalued, this valuation was provided by the director and is based on an open market value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.21 30.6.20
£    £   
Amounts owed by participating interests 59,178 59,608
Other debtors 13,401 13,400
72,579 73,008

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.21 30.6.20
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors - 619
Amounts owed to participating interests 91,100 65,300
Taxation and social security 216 193
Other creditors 32,815 23,700
174,131 139,812

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.21 30.6.20
£    £   
Bank loans 159,075 188,250

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.21 30.6.20
£    £   
Bank loans 159,075 188,250

Page 5 continued...
Cisse Properties Limited (Registered number: 06945591)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2021

9. RELATED PARTY DISCLOSURES

Included in debtors is £9,178 (2020 £9,608) due from Qualitas Private Ltd and £50,000 due from C M Promotions Limited, companies which Mr P Harrison is a director.

Included in creditors is £61,100 (2020 £61,100) due to Seyphil Ltd and £30,000 due to CM Financial Group Ltd which Mr P Harrison is a director.

These loans are interest free.

Page 6