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REGISTERED NUMBER: 03431035 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

City Discovery Centre (Trading) Co.
Limited

City Discovery Centre (Trading) Co.
Limited (Registered number: 03431035)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


City Discovery Centre (Trading) Co.
Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Ms L Broder
D P Lock





SECRETARY: Dr N M James





REGISTERED OFFICE: The Farmhouse
Bradwell Abbey
Milton Keynes
MK13 9AP





REGISTERED NUMBER: 03431035 (England and Wales)





AUDITORS: Harris & Co (Accountants) Ltd, Statutory Auditor
2 Pavilion Court
600 Pavilion Drive
Northampton
NN4 7SL

City Discovery Centre (Trading) Co.
Limited (Registered number: 03431035)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 595 1,334

CURRENT ASSETS
Stocks 5 3,311 3,246
Debtors 6 6,675 37
Cash at bank and in hand 153,733 123,847
163,719 127,130
CREDITORS
Amounts falling due within one year 7 (149,811 ) (113,961 )
NET CURRENT ASSETS 13,908 13,169
TOTAL ASSETS LESS CURRENT LIABILITIES 14,503 14,503

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 14,403 14,403
SHAREHOLDERS' FUNDS 14,503 14,503

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2023 and were signed on its behalf by:





D P Lock - Director


City Discovery Centre (Trading) Co.
Limited (Registered number: 03431035)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

City Discovery Centre (Trading) Co. 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.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the cost incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of the revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the cost incurred and the costs to complete the contract can be measures reliably.

City Discovery Centre (Trading) Co.
Limited (Registered number: 03431035)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, according to the following:-

Plant and machinery - 33% straight line
Fixtures and fittings - 20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Government grants
Grants are accounted for under the accruals model as permitted by FRS102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the expenditure.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable, for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

City Discovery Centre (Trading) Co.
Limited (Registered number: 03431035)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Going concern
In response to the ongoing results COVID-19 pandemic and the related cost of living crisis, the directors have performed a detailed analysis of forecast future cash flows taking into account the potential impact on the charity and group of possible future scenarios arising from the impact of COVID-19 and the cost of living crisis (including reduced income from activities). This analysis also considers the effectiveness of available measures to assist in mitigating the impact. Based on these assessments and having regard to the resources available to the charity, the Trustees have concluded that there is no material uncertainty arising from the COVID-19 pandemic and the cost of living crisis and that they can continue to adopt the going concern basis in preparing the reports and accounts.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan

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 the Statement of income and retained earnings.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

City Discovery Centre (Trading) Co.
Limited (Registered number: 03431035)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 12,494
DEPRECIATION
At 1 April 2022 11,160
Charge for year 739
At 31 March 2023 11,899
NET BOOK VALUE
At 31 March 2023 595
At 31 March 2022 1,334

5. STOCKS
2023 2022
£    £   
Stocks 3,311 3,246

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,630 -
Prepayments and accrued income 45 37
6,675 37

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,524 3,019
Amounts owed to group undertakings 105,036 72,889
VAT 3,767 3,094
Accruals and deferred income 38,484 34,959
149,811 113,961

City Discovery Centre (Trading) Co.
Limited (Registered number: 03431035)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sarah Buswell FCA (Senior Statutory Auditor)
for and on behalf of Harris & Co (Accountants) Ltd, Statutory Auditor

10. ULTIMATE CONTROLLING PARTY

The company's ultimate holding company is City Discovery Centre, a charitable company registered in the United Kingdom.