CSE42_LIMITED - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CSE42 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8 Devonshire Square, London, EC2M 4PL.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the balance sheet date the company has net current liabilities of £49,900. Included in creditors are amounts due to fellow subsidiary company, Clearstone Services Limited of £50,000. The parent company has confirmed that they will continue to support the company for the foreseeable future and is confident about the company's ability to trade a going concern and meet its financial obligations. Therefore the accounts have been prepared on the going concern basis.

A fellow subsidiary company, is managing live projects and associated costs for CSE42 Limited. These costs along with related management services are recharged to CSE42 Limited from the fellow subsidiary once pre-determined stages are met. The final stage is met once a viable grid connection offer is made and accepted. The company is therefore considered to be preparing to trade.

The company has not traded during the year. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

The average monthly number of persons (including directors) employed by the company during the year was: