CMB Partners UK Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07556457 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

CMB Partners UK Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L Bednash

D M Christou

REGISTERED OFFICE:

Craftwork Studios

1-3 Dufferin Street

London

EC1Y 8NA

REGISTERED NUMBER:

07556457 (England and Wales)

FIXED ASSETS

Intangible assets

4

275,000

360,000

Tangible assets

5

8,923

12,273

Investments

6

502,194

-

786,117

372,273

CURRENT ASSETS

Work-in-progress

291,108

323,257

Debtors

7

283,917

326,759

Cash at bank and in hand

675,235

669,553

1,250,260

1,319,569

CREDITORS

Amounts falling due within one year

8

376,101

605,883

NET CURRENT ASSETS

874,159

713,686

TOTAL ASSETS LESS CURRENT LIABILITIES

1,660,276

1,085,959

PROVISIONS FOR LIABILITIES

1,695

2,509

NET ASSETS

1,658,581

1,083,450

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,658,481

1,083,350

SHAREHOLDERS' FUNDS

1,658,581

1,083,450

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 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 15 December 2021 and were signed on its behalf by:

D M Christou - Director

L Bednash - Director

1.	STATUTORY INFORMATION

CMB Partners UK 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work-in-progress to their present location and condition.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2020 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

850,000

AMORTISATION

At 1 April 2020

490,000

Charge for year

85,000

At 31 March 2021

575,000

NET BOOK VALUE

At 31 March 2021

275,000

At 31 March 2020

360,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

29,988

DEPRECIATION

At 1 April 2020

17,715

Charge for year

3,350

At 31 March 2021

21,065

NET BOOK VALUE

At 31 March 2021

8,923

At 31 March 2020

12,273

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

502,194

At 31 March 2021

502,194

NET BOOK VALUE

At 31 March 2021

502,194

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

22,755

59,026

Other debtors

261,162

267,733

283,917

326,759

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Taxation and social security

262,751

257,876

Other creditors

113,350

348,007

376,101

605,883

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020:

31.3.21

31.3.20

£

£

L Bednash

Balance outstanding at start of year

43,760

-

Amounts advanced

1,572

43,760

Amounts repaid

(43,760

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,572

43,760

D M Christou

Balance outstanding at start of year

-

-

Amounts advanced

1,285

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,285

-

Director's loan account balances of £1,572 and £1,285 were repaid to the company within 9 months after the balance sheet date.

10.	RELATED PARTY DISCLOSURES

During the year, the company was owed £170,000 (2020: £170,000) from Tenth June Limited, in which the director, D M Christou, is a director and 50% shareholder. The balance arose from transactions which were at arms length and in the ordinary course of business.