Company registration number:
8389352
CM Seven Limited
Unaudited filleted financial statements
28 February 2022
CM Seven Limited
Statement of financial position
28 February 2022
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2022
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2021
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Note
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£
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£
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£
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£
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Fixed assets
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Tangible assets
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5
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3,146
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6,940
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_______
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_______
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3,146
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6,940
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Current assets
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Debtors
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3,629
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10,922
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Cash at bank
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32,972
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1,502
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_______
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_______
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36,601
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12,424
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Creditors: amounts falling due
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within one year
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(
11,570)
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(
9,611)
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_______
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_______
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Net current assets
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25,031
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2,813
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_______
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_______
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Total assets less current liabilities
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28,177
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9,753
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Provisions for liabilities
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(
598)
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(
798)
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_______
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_______
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Net assets
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27,579
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8,955
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_______
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_______
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Capital and reserves
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Called up share capital
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6
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100
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100
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Profit and loss account
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27,479
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8,855
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_______
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_______
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Shareholders funds
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27,579
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8,955
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_______
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_______
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For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
08 April 2022
, and are signed on behalf of the board by:
Mr C S H Mitchell
Director
Company registration number:
8389352
CM Seven Limited
Notes to the financial statements
Year ended 28 February 2022
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 7 Stamford Street, Newmarket, Suffolk, CB8 8JB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fittings fixtures and equipment
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-
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25 %
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reducing balance
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Property improvements
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-
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20 %
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straight line
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2021:
1
).
5.
Tangible assets
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Fixtures, fittings and equipment
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Property improvements
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Total
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£
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£
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£
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Cost
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At 1 March 2021 and 28 February 2022
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10,200
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13,701
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23,901
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_______
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_______
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_______
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Depreciation
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At 1 March 2021
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6,001
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10,960
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16,961
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Charge for the year
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1,053
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2,741
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3,794
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_______
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_______
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_______
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At 28 February 2022
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7,054
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13,701
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20,755
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_______
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_______
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_______
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Carrying amount
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At 28 February 2022
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3,146
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-
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3,146
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_______
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_______
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_______
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At 28 February 2021
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4,199
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2,741
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6,940
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_______
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_______
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_______
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6.
Called up share capital
Issued, called up and fully paid
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2022
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2021
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No
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£
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No
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£
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Ordinary
shares of £
1.00 each
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100
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100
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100
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100
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_______
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_______
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_______
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_______
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7.
Directors advances, credits and guarantees
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During the year the director entered into the following advances and credits with the company:
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2022
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Balance brought forward
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Advances /(credits) to the director
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Amounts repaid
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Balance o/standing
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£
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£
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£
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£
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Mr C S H Mitchell
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2,019
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-
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(
2,020)
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(
1)
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_______
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_______
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_______
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_______
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2021
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Balance brought forward
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Advances /(credits) to the director
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Amounts repaid
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Balance o/standing
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£
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£
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£
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£
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|
Mr C S H Mitchell
|
228
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2,019
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(
228)
|
2,019
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_______
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_______
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_______
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_______
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