CST Group Limited
Unaudited Financial Statements
For Filing with Registrar
For the year ended 31 May 2019
Company Registration No. 03048576 (England and Wales)
CST Group Limited
Company Information
Director
P. Ockenden
Secretary
J. Ockenden
Company number
03048576
Registered office
The Shipping Building
The Old Vinyl Factory
Blyth Road
Hayes
London
UB3 1HA
Accountants
Moore Kingston Smith LLP
The Shipping Building
The Old Vinyl Factory
Blyth Road
Hayes
London
UB3 1HA
Business address
49 Downside
Shoreham-By-Sea
West Sussex
BN43 6HF
Bankers
Royal Bank of Scotland Plc
Western Branch
60 Conduit Street
London
W1S 2GA
CST Group Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CST Group Limited
Balance Sheet
As at 31 May 2019
Page 1
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,502
3,002
Current assets
Debtors
5
32,714
57,128
Cash at bank and in hand
111,912
57,174
144,626
114,302
Creditors: amounts falling due within one year
6
(34,304)
(27,951)
Net current assets
110,322
86,351
Total assets less current liabilities
111,824
89,353
Capital and reserves
Called up share capital
7
4,717
4,717
Share premium account
7,090
7,090
Capital redemption reserve
11,283
11,283
Profit and loss reserves
88,734
66,263
Total equity
111,824
89,353
The director 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 31 May 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have 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.
The financial statements were approved and signed by the director and authorised for issue on 2 December 2019
P. Ockenden
Director
Company Registration No. 03048576
CST Group Limited
Notes to the Financial Statements
For the year ended 31 May 2019
Page 2
1
Accounting policies
Company information
CST Group Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Shipping Building, The Old Vinyl Factory, Blyth Road, Hayes, London, UB3 1HA.
1.1
Accounting convention
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 financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is attributable to the one principal activity of the company which arose wholly in the United Kingdom.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash and cash equivalents
Cash and cash equivalents include cash in hand
and
deposits held at call with banks
.
CST Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2019
1
Accounting policies
(Continued)
Page 3
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including trade and other payables
are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
payments
discounted at a market rate of interest.
Trade payables are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. Accounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade payables are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
CST Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2019
1
Accounting policies
(Continued)
Page 4
1.9
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 5 (2018 - 5).
3
Interest receivable and similar income
2019
2018
£
£
Interest income
Interest on bank deposits
117
28
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2018 and 31 May 2019
27,885
Depreciation and impairment
At 1 June 2018
24,883
Depreciation charged in the year
1,500
At 31 May 2019
26,383
Carrying amount
At 31 May 2019
1,502
At 31 May 2018
3,002
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
16,763
42,454
Other debtors
15,951
14,674
32,714
57,128
CST Group Limited
Notes to the Financial Statements (Continued)
For the year ended 31 May 2019
Page 5
6
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
1,890
913
Other taxation and social security
10,240
9,240
Other creditors
22,174
17,798
34,304
27,951
7
Called up share capital
2019
2018
£
£
Ordinary share capital
Authorised
100,000 Ordinary shares of £1 each
100,000
100,000
Issued and fully paid
4,717 Ordinary shares of £1 each
4,717
4,717
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2019
2018
£
£
21,958
29,708
9
Related party transactions
Demographix Limited is a company with a common director. During the year the company made sales to Demographix Limited of £13,882 (2018: £17,166).