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REGISTERED NUMBER: 11075070 (England and Wales)







Unaudited Financial Statements

for the Year Ended 28 February 2023

for

City Rise Developments Limited

City Rise Developments Limited (Registered number: 11075070)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


City Rise Developments Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr D E Wiltshire
Mrs S A Wiltshire





SECRETARY: Mr D E Wiltshire





REGISTERED OFFICE: Cottage Farm
Wapley Hill
Westerleigh
Gloucestershire
BS37 8RJ





REGISTERED NUMBER: 11075070 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

City Rise Developments Limited (Registered number: 11075070)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,875,000 4,244,799

CURRENT ASSETS
Debtors 5 5,476 -
Cash at bank 2,496 3,970
7,972 3,970
CREDITORS
Amounts falling due within one year 6 2,076,030 2,093,674
NET CURRENT LIABILITIES (2,068,058 ) (2,089,704 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,806,942 2,155,095

CREDITORS
Amounts falling due after more than one year 7 (2,098,903 ) (2,108,902 )

PROVISIONS FOR LIABILITIES (131,869 ) -
NET ASSETS 576,170 46,193

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 576,169 46,192
SHAREHOLDERS' FUNDS 576,170 46,193

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 26 September 2023 and were signed on its behalf by:





Mr D E Wiltshire - Director


City Rise Developments Limited (Registered number: 11075070)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

City Rise Developments 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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 2 (2022 - 2 ) .

City Rise Developments Limited (Registered number: 11075070)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 4,252,541
Additions 47,122
Disposals (110,966 )
Revaluations 694,045
At 28 February 2023 4,882,742
DEPRECIATION
At 1 March 2022
and 28 February 2023 7,742
NET BOOK VALUE
At 28 February 2023 4,875,000
At 28 February 2022 4,244,799

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2023 694,045
Cost 4,188,697
4,882,742

If investment property had not been revalued it would have been included at the following historical cost:

28.2.23 28.2.22
£    £   
Cost 4,188,697 4,252,541
Aggregate depreciation (7,742 ) (7,742 )

Investment property was valued on an open market basis on 28 February 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 4,588 -
Prepayments 888 -
5,476 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 10,000 10,000
Amounts owed to group undertakings 1,758,911 1,799,765
Other creditors 52,118 24,132
Directors' current accounts 253,501 252,877
Accrued expenses 1,500 6,900
2,076,030 2,093,674

City Rise Developments Limited (Registered number: 11075070)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 17,407 27,406
Bank loans more 5 yrs non-inst 2,071,496 2,071,496
2,098,903 2,108,902

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,071,496 2,071,496

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 2,071,496 2,071,496

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Retained
earnings
£   

At 1 March 2022 46,192
Profit for the year 529,977
At 28 February 2023 576,169

The company has non-distributable reserves totalling £562,177.