Cleveland Scott York IP Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05907872 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

CLEVELAND SCOTT YORK IP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

T J Faulkner

Miss Lorna Hobbs

A Mackenzie

J Midgley

SECRETARY:

J Midgley

REGISTERED OFFICE:

10 Fetter Lane

London

EC4A 1BR

REGISTERED NUMBER:

05907872 (England and Wales)

AUDITORS:

Myrus Smith

Chartered Accountants & Statutory Auditor

Norman House

8 Burnell Road

Sutton

Surrey

SM1 4BW

FIXED ASSETS

Intangible assets

4

1

1

CURRENT ASSETS

Debtors

5

533,841

667,982

Cash at bank

237,632

141,534

771,473

809,516

CREDITORS

Amounts falling due within one year

6

760,863

798,956

NET CURRENT ASSETS

10,610

10,560

TOTAL ASSETS LESS CURRENT LIABILITIES

10,611

10,561

PROVISIONS FOR LIABILITIES

96

96

NET ASSETS

10,515

10,465

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

515

465

10,515

10,465

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 3 December 2021 and were signed on its behalf by:

T J Faulkner - Director

1.	STATUTORY INFORMATION

Cleveland Scott York IP Ltd 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.

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.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the income can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before income is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of income can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliability;

- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, was amortised over its useful life. This was originally over seven years. As at 1 November 2011 the remaining useful life was revised and extended for three years from this date. The remaining value was amortised evenly over this 3 year term, it is now fully amortised.

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.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

900,000

AMORTISATION

At 1 April 2020

and 31 March 2021

899,999

NET BOOK VALUE

At 31 March 2021

1

At 31 March 2020

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

386,427

518,511

Other debtors

147,414

149,471

533,841

667,982

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

200,488

294,562

Taxation and social security

58,758

56,849

Other creditors

501,617

447,545

760,863

798,956

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kevin Fisher BA FCA CTA (Senior Statutory Auditor)

for and on behalf of Myrus Smith