CUSU Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07700634 (England and Wales)

ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

FOR

CUSU SERVICES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T J Holmes

J Abell

P S Fairburn

Ms C Fernandes Cardoso

Ms J M Zaboklicka

J Robinson

P M Sanders

K K S Sandhu

Ms C Whelan

REGISTERED OFFICE:

The Hub

Jordan Well

Coventry

West Midlands

CV1 5QT

REGISTERED NUMBER:

07700634 (England and Wales)

SENIOR STATUTORY AUDITOR:

Gregg Olner MPhil BA(Hons) ACA

AUDITORS:

Harrison Beale & Owen Limited

Chartered Accountants and Statutory Auditor

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

BANKERS:

The Co-Operative Bank plc

PO Box 101

1 Balloon Street

Manchester

M60 4EP

FIXED ASSETS

Tangible assets

4

2,024

4,048

CURRENT ASSETS

Stocks

5,661

6,289

Debtors

170,680

101,857

Cash at bank

239,629

219,509

415,970

327,655

CREDITORS

Amounts falling due within one year

700,932

692,695

NET CURRENT LIABILITIES

(284,962

)

(365,040

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(282,938

)

(360,992

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(282,939

)

(360,993

)

SHAREHOLDERS' FUNDS

(282,938

)

(360,992

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 November 2021 and were signed on its behalf by:

J Abell - Director

1.	STATUTORY INFORMATION

CUSU Services 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.

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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

At the balance sheet date the company had net current liabilities of £284,962 (2020 - £365,040) and net liabilities of £282,938 (2020 - £360,992). Included within current liabilities is a balance owed to Coventry University Students Union of £475,136 (2020 - £480,377) The parent company has expressed its willingness to support the company as necessary as such the accounts and financial statements have been prepared on a going concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other wholly owned group entities.

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

Tangible fixed assets

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

Short leasehold

-

Straight line over 7 years

Improvements to properties

-

Straight line over 7 years

Fixtures and fittings

-

Straight line over 3 years and Straight line over 7 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

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 the income statement.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Taxation

No tax arises on the results of the year as the company remits an amount equivalent to its annual taxable profit to its parent undertaking under a deed of covenant arrangement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2020 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2020

and 31 July 2021

153,130

DEPRECIATION

At 1 August 2020

149,082

Charge for year

2,024

At 31 July 2021

151,106

NET BOOK VALUE

At 31 July 2021

2,024

At 31 July 2020

4,048

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

The Report of the Auditors was unqualified.

Gregg Olner MPhil BA(Hons) ACA (Senior Statutory Auditor)

for and on behalf of Harrison Beale & Owen Limited

6.	ULTIMATE PARENT COMPANY

Coventry University Students' Union Limited is regarded by the directors as being the company's ultimate parent company.

These financial statements are consolidated into the group financial statements which are available from the registered office.