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Company Registration No. 08798101 (England and Wales)
CITY OF GOLD LIMITED Unaudited accounts for the year ended 31 March 2023
CITY OF GOLD LIMITED Unaudited accounts Contents
Page
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CITY OF GOLD LIMITED Company Information for the year ended 31 March 2023
Directors
Mr B W Bibby Mrs D Bibby
Company Number
08798101 (England and Wales)
Registered Office
The Downshire 71 Baldwins Lane Croxley Green Rickmansworth Herts WD3 3LT UK
Accountants
Dempsey & Co The Downshire 71 Baldwins Lane Croxley Green Rickmansworth Herts WD3 3LT
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CITY OF GOLD LIMITED Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
118,250 
129,000 
Tangible assets
1,360,538 
1,260,902 
1,478,788 
1,389,902 
Current assets
Inventories
21,335 
21,335 
Debtors
65,830 
38,566 
Cash at bank and in hand
46,257 
98,548 
133,422 
158,449 
Creditors: amounts falling due within one year
(575,397)
(452,306)
Net current liabilities
(441,975)
(293,857)
Total assets less current liabilities
1,036,813 
1,096,045 
Creditors: amounts falling due after more than one year
(277,682)
(331,985)
Provisions for liabilities
Deferred tax
(95,301)
(83,292)
Net assets
663,830 
680,768 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
663,730 
680,668 
Shareholders' funds
663,830 
680,768 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2023 and were signed on its behalf by
Mr B W Bibby Director Company Registration No. 08798101
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CITY OF GOLD LIMITED Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
CITY OF GOLD LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08798101. The registered office is The Downshire, 71 Baldwins Lane, Croxley Green Rickmansworth, Herts, WD3 3LT, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents arcade income, excluding Value Added Tax
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
10% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
25% redicing balance
Intangible fixed assets
Goodwill represents the excess of cost of acquisition over the fair value of the separable net asset acquired. Goodwill is amortised through the profit and loss account in equal instalments over its useful life at a rate of 5% per annum.
Deferred taxation
Deferred taxation is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account in the year in which they are made.
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CITY OF GOLD LIMITED Notes to the Accounts for the year ended 31 March 2023
Operating Lease
Rentals payable under operating leases are charged to the profit and loss account as incurred.
Going concern
These financial statements have been prepared on a going concern basis.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
215,000 
At 31 March 2023
215,000 
Amortisation
At 1 April 2022
86,000 
Charge for the year
10,750 
At 31 March 2023
96,750 
Net book value
At 31 March 2023
118,250 
At 31 March 2022
129,000 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2022
984,596 
763,608 
14,910 
65,076 
1,828,190 
Additions
70,078 
159,518 
- 
28,159 
257,755 
Disposals
- 
(73,320)
- 
- 
(73,320)
At 31 March 2023
1,054,674 
849,806 
14,910 
93,235 
2,012,625 
Depreciation
At 1 April 2022
140,155 
372,587 
14,910 
39,636 
567,288 
Charge for the year
21,475 
84,974 
- 
13,356 
119,805 
On disposals
- 
(35,006)
- 
- 
(35,006)
At 31 March 2023
161,630 
422,555 
14,910 
52,992 
652,087 
Net book value
At 31 March 2023
893,044 
427,251 
- 
40,243 
1,360,538 
At 31 March 2022
844,441 
391,021 
- 
25,440 
1,260,902 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
65,830 
38,566 
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CITY OF GOLD LIMITED Notes to the Accounts for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
77,160 
67,872 
Trade creditors
193,812 
193,333 
Other creditors
24,513 
24,155 
Loans from directors
279,912 
166,946 
575,397 
452,306 
£354842 of the bank loan and overdraft is secured. Included in other creditors is tax and social security totalling £3037 (2022-£4399)
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
277,682 
331,985 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 35 (2022: 35).
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