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Company Registration No. 04993919 (England and Wales)
CITI ELECTRICS LTD Unaudited accounts for the year ended 31 December 2023
CITI ELECTRICS LTD Unaudited accounts Contents
Page
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CITI ELECTRICS LTD Company Information for the year ended 31 December 2023
Director
Peter Moore
Company Number
04993919 (England and Wales)
Registered Office
Chalfont St Peter SL9 9QL United Kingdom
Accountants
Lane Accounting Limited Denmark House 143 High Street Chalfont St Peter Buckinghamshire SL9 9QL
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CITI ELECTRICS LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,421 
6,466 
Current assets
Debtors
381,242 
331,297 
Cash at bank and in hand
50,651 
121,645 
431,893 
452,942 
Creditors: amounts falling due within one year
(81,081)
(97,982)
Net current assets
350,812 
354,960 
Net assets
358,233 
361,426 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
358,223 
361,416 
Shareholders' funds
358,233 
361,426 
For the year ending 31 December 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 director acknowledges his 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 and authorised for issue on 6 March 2024 and were signed on its behalf by
Peter Moore Director Company Registration No. 04993919
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CITI ELECTRICS LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
CITI ELECTRICS LTD is a private company, limited by shares, registered in England and Wales, registration number 04993919. The registered office is Chalfont St Peter, SL9 9QL, United Kingdom.
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
15% per annum reducing balance
Motor vehicles
20% per annum reducing balance
Fixtures & fittings
20% per annum reducing balance
Computer equipment
20% per annum of cost
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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CITI ELECTRICS LTD Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2023
612 
26,000 
1,182 
- 
27,794 
Additions
- 
5,500 
- 
1,050 
6,550 
Disposals
- 
(16,000)
- 
- 
(16,000)
At 31 December 2023
612 
15,500 
1,182 
1,050 
18,344 
Depreciation
At 1 January 2023
589 
19,696 
1,043 
- 
21,328 
Charge for the year
5 
1,624 
21 
263 
1,913 
On disposals
- 
(12,318)
- 
- 
(12,318)
At 31 December 2023
594 
9,002 
1,064 
263 
10,923 
Net book value
At 31 December 2023
18 
6,498 
118 
787 
7,421 
At 31 December 2022
23 
6,304 
139 
- 
6,466 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
200,726 
190,539 
Accrued income and prepayments
20,338 
20,338 
Other debtors
160,178 
120,420 
381,242 
331,297 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
29,353 
40,192 
Taxes and social security
45,396 
43,363 
Other creditors
34 
7,034 
Accruals
6,298 
7,393 
81,081 
97,982 
7
Average number of employees
During the year the average number of employees was 2 (2022: 3).
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