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REGISTERED NUMBER: 11948103 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CITYTALK GROUP LTD

CITYTALK GROUP LTD (REGISTERED NUMBER: 11948103)






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


CITYTALK GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: M E Croxford





REGISTERED OFFICE: Hewgate House Rabans Lane
Rabans Lane Industrial Area
Aylesbury
HP19 8RT





REGISTERED NUMBER: 11948103 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Ltd
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

CITYTALK GROUP LTD (REGISTERED NUMBER: 11948103)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 586,741 3,729
Tangible assets 5 437,483 119,833
Investments 6 200 252,255
1,024,424 375,817

CURRENT ASSETS
Stocks 76,543 17,489
Debtors 7 826,557 431,637
Cash at bank 47,819 797
950,919 449,923
CREDITORS
Amounts falling due within one year 8 (1,093,019 ) (562,877 )
NET CURRENT LIABILITIES (142,100 ) (112,954 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

882,324

262,863

CREDITORS
Amounts falling due after more than one
year

9

(845,640

)

(85,781

)
NET ASSETS 36,684 177,082

CAPITAL AND RESERVES
Called up share capital 12 350,000 350,000
Retained earnings (313,316 ) (172,918 )
SHAREHOLDERS' FUNDS 36,684 177,082

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 director acknowledges his 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.

CITYTALK GROUP LTD (REGISTERED NUMBER: 11948103)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2023 and were signed by:





M E Croxford - Director


CITYTALK GROUP LTD (REGISTERED NUMBER: 11948103)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Citytalk Group Ltd 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.

Going concern
The company meets its day-to-day working capital requirements through its bank facilities. The current economic conditions continue to create uncertainty over (a) the level of demand for the company’s products; and (b) the availability of bank finance for the foreseeable future. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its 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.

Goodwill
Goodwill recognised represents the excess of the fair value and directly attributable costs of the purchase consideration over the fair values of the identifiable net assets, liabilities and contingent liabilities acquired.

Goodwill is amortised through the income statement in equal instalments over its estimated useful life of 10 years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. Reversals of impairment are recognised when the reasons for the impairment no longer apply.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

CITYTALK GROUP LTD (REGISTERED NUMBER: 11948103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

CITYTALK GROUP LTD (REGISTERED NUMBER: 11948103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022 9,339
Additions 565,019
Reclassification/transfer 113,143
At 31 March 2023 687,501
AMORTISATION
At 1 April 2022 5,610
Amortisation for year 68,750
Impairments 26,400
At 31 March 2023 100,760
NET BOOK VALUE
At 31 March 2023 586,741
At 31 March 2022 3,729

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 - 83,162 44,158 19,360 146,680
Additions 21,955 16,893 448,439 18,963 506,250
Disposals - - (81,757 ) - (81,757 )
Transfer to ownership - - (44,158 ) - (44,158 )
At 31 March 2023 21,955 100,055 366,682 38,323 527,015
DEPRECIATION
At 1 April 2022 - 9,597 9,200 8,050 26,847
Charge for year 4,393 18,092 72,229 12,129 106,843
Transfer to ownership - - (44,158 ) - (44,158 )
At 31 March 2023 4,393 27,689 37,271 20,179 89,532
NET BOOK VALUE
At 31 March 2023 17,562 72,366 329,411 18,144 437,483
At 31 March 2022 - 73,565 34,958 11,310 119,833

CITYTALK GROUP LTD (REGISTERED NUMBER: 11948103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 373,677
Disposals (16,696 )
At 31 March 2023 356,981
DEPRECIATION
Charge for year 69,804
Transfer to ownership (44,158 )
At 31 March 2023 25,646
NET BOOK VALUE
At 31 March 2023 331,335

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022 252,255
Impairments (138,912 )
Reclassification/transfer (113,143 )
At 31 March 2023 200
NET BOOK VALUE
At 31 March 2023 200
At 31 March 2022 252,255

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 324,113 41,561
Amounts owed by group undertakings - 155,483
Other debtors 502,444 234,593
826,557 431,637

CITYTALK GROUP LTD (REGISTERED NUMBER: 11948103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 304,568 21,372
Hire purchase contracts 90,877 8,996
Trade creditors 404,162 178,960
Amounts owed to group undertakings 200 246,332
Taxation and social security 210,783 48,874
Other creditors 82,429 58,343
1,093,019 562,877

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 10) 631,665 64,888
Hire purchase contracts 213,975 20,893
845,640 85,781

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 14,423 -

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 1,665
Bank loans 304,568 19,707
304,568 21,372

Amounts falling due between one and two years:
Bank loans - 1-2 years 307,923 19,952

Amounts falling due between two and five years:
Bank loans - 2-5 years 309,319 44,936

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 14,423 -

CITYTALK GROUP LTD (REGISTERED NUMBER: 11948103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

11. DEFERRED TAX
£   
Balance at 1 April 2022 (139,578 )
Credit to Income Statement during year (19,693 )
B/fwd from Hived up companies 46,399
Balance at 31 March 2023 (112,872 )

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
350,000 Ordinary £1 350,000 350,000