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REGISTERED NUMBER: 07109680 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CITI UTILITIES LIMITED

CITI UTILITIES LIMITED (REGISTERED NUMBER: 07109680)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CITI UTILITIES LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: Mr R Preece
Ms J R Thomas





SECRETARY: Mrs E Preece





REGISTERED OFFICE: Elm Farm
Bristol Road
Cambridge
Gloucestershire
GL2 7AN





REGISTERED NUMBER: 07109680 (England and Wales)





ACCOUNTANTS: Kingscott Dix (Cheltenham) Limited
Chartered Accountants
Malvern View Business Park
Stella Way
Bishops Cleeve
Cheltenham
Gloucestershire
GL52 7DQ

CITI UTILITIES LIMITED (REGISTERED NUMBER: 07109680)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 983,121 750,208

CURRENT ASSETS
Stocks 81,162 77,334
Debtors 5 176,883 105,402
Cash at bank 342,682 120,212
600,727 302,948
CREDITORS
Amounts falling due within one year 6 (641,237 ) (335,242 )
NET CURRENT LIABILITIES (40,510 ) (32,294 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

942,611

717,914

CREDITORS
Amounts falling due after more than one
year

7

(263,284

)

(336,189

)

PROVISIONS FOR LIABILITIES 11 (165,637 ) (119,706 )
NET ASSETS 513,690 262,019

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 513,590 261,919
SHAREHOLDERS' FUNDS 513,690 262,019

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

CITI UTILITIES LIMITED (REGISTERED NUMBER: 07109680)

BALANCE SHEET - continued
31 March 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





Mr R Preece - Director


CITI UTILITIES LIMITED (REGISTERED NUMBER: 07109680)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Citi Utilities 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The directors are of the opinion that there are no significant judgements or estimations used in preparing the financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Temporary Building - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Tools & equipment - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Office equipment - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


CITI UTILITIES LIMITED (REGISTERED NUMBER: 07109680)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments
The company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Temporary Plant and Tools &
Building machinery equipment
£    £    £   
COST
At 1 April 2022 202,672 1,009,397 60,923
Additions 1,450 492,860 16,360
Disposals - (68,920 ) (1,198 )
At 31 March 2023 204,122 1,433,337 76,085
DEPRECIATION
At 1 April 2022 122,278 498,742 46,122
Charge for year 16,369 190,932 6,040
Eliminated on disposal - (20,072 ) (240 )
At 31 March 2023 138,647 669,602 51,922
NET BOOK VALUE
At 31 March 2023 65,475 763,735 24,163
At 31 March 2022 80,394 510,655 14,801

CITI UTILITIES LIMITED (REGISTERED NUMBER: 07109680)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 321,517 14,126 1,608,635
Additions 13,995 3,830 528,495
Disposals - - (70,118 )
At 31 March 2023 335,512 17,956 2,067,012
DEPRECIATION
At 1 April 2022 183,804 7,481 858,427
Charge for year 30,341 2,094 245,776
Eliminated on disposal - - (20,312 )
At 31 March 2023 214,145 9,575 1,083,891
NET BOOK VALUE
At 31 March 2023 121,367 8,381 983,121
At 31 March 2022 137,713 6,645 750,208

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,879 864
Other debtors 155,004 104,538
176,883 105,402

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 41,098 40,162
Hire purchase contracts (see note 9) 108,664 71,853
Trade creditors 423,736 128,238
Tax - 21,952
Social security and other taxes 11,369 21,825
Other creditors 48,608 39,298
Directors' current accounts - 28
Accrued expenses 7,762 11,886
641,237 335,242

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 8) 46,374 85,661
Hire purchase contracts (see note 9) 216,910 250,528
263,284 336,189

CITI UTILITIES LIMITED (REGISTERED NUMBER: 07109680)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 41,098 40,162

Amounts falling due between two and five years:
Bank loans - 2-5 years 46,374 85,661

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 108,664 71,853
Between one and five years 216,910 250,528
325,574 322,381

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 87,472 125,823
Hire purchase contracts 325,574 322,381
413,046 448,204

National Westminster Bank plc hold a fixed and floating charge (floating charge covers all the property
or undertaking of the company).

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 165,637 119,706

Deferred
tax
£   
Balance at 1 April 2022 119,706
Provided during year 45,931
Balance at 31 March 2023 165,637

CITI UTILITIES LIMITED (REGISTERED NUMBER: 07109680)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R Preece.

The ultimate controlling party is Mr R Preece.