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Registered number: SC475222

City (Scotland) Limited

ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023


City (Scotland) Limited

ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
DIRECTORS
T Ashdown
REGISTERED OFFICE
Q Court
3 Quality Street
Edinburgh
City of Edinburgh
EH4 5BP
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC475222
ACCOUNTANTS
Hodgson and Company
16 Barnes Green
Livingston
West Lothian
EH54 8PP

City (Scotland) Limited

ACCOUNTS
FOR THEYEARENDED31 JULY 2023
CONTENTS
Page
Balance Sheet3
Notes To The Accounts4

City (Scotland) Limited

BALANCE SHEET AT 31 July 2023
20232022
Notes££
FIXED ASSETS
Intangible assets3306,175409,298
Tangible assets411,4678,309
317,642417,607
CURRENT ASSETS
Debtors5475,401412,706
Cash at bank and in hand2501,650
475,651414,356
CREDITORS: Amounts falling due within one year6357,026343,252
NET CURRENT ASSETS118,62571,104
TOTAL ASSETS LESS CURRENT LIABILITIES436,267488,711
CREDITORS: Amounts falling due after more than one year7273,488199,591
PROVISIONS FOR LIABILITIES AND CHARGES82,1801,835
NET ASSETS160,599287,285
CAPITAL AND RESERVES
Called up share capital9100100
Profit and loss account160,499287,185
SHAREHOLDERS' FUNDS160,599287,285
For the year ending 31 July 2023 the company was entitled to exemption 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 16 April 2024 and signed on their behalf by
.............................
T Ashdown
Director

City (Scotland) Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting FRS 1021 a
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . The accounts have been prepared under the historical cost convention.
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures and Fittingsstraight line 15%
Equipmentstraight line 25%
Motor Carsreducing balance 25%
1c. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1d. Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.
1e. Government Grants
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.
Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.
1f. Statutory Information
1g.

City (Scotland) Limited

1h. Computer Development
Expenditure on research activities is recognised as an expense in the period in which it is incurred and is only incurred in respect of the company's software platform.
Development expenditure incurred on computer software is capitalised as an intangible asset only when all of the following criteria are met: (a) it is technically feasible to complete the intangible asset and use or sell it; (b) there is the intention to complete the intangible asset and use or sell it; (c) there is the ability to use or sell the intangible asset; (d) the use or sale of the intangible asset will generate probable future economic benefits; (e) there are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and (f) the expenditure attributable to the intangible asset during its development can be measured reliably.
The amount initially recognised for intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the criteria listed above. Where no intangible asset can be recognised, development expenditure is recognised in the profit and loss in the period in which it is incurred. Subsequent to initial recognition, intangible assets are reported at cost less accumulated amortisation and accumulated impairment losses. The useful life over which computer software is amortised is ten years.
1i. 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 fom 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 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.
1j. 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.
1k. Pension Costs And Other Postretirement 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.
2. EMPLOYEES
20232022
No.No.
Average number of employees56

City (Scotland) Limited

3. INTANGIBLE FIXED ASSETS
PurchasedComputer
GoodwillDevelopmentTotal
£££
Cost
At 1 August 20221,000,000310,1151,310,115
Additions-27,89027,890
At 31 July 20231,000,000338,0051,338,005
Depreciation
At 1 August 2022816,00084,817900,817
For the year100,00031,013131,013
At 31 July 2023916,000115,8301,031,830
Net Book Amounts
At 31 July 202384,000222,175306,175
At 31 July 2022184,000225,298409,298
4. TANGIBLE FIXED ASSETS
Fixtures
and FittingsEquipmentTotal
£££
Cost
At 1 August 20229,26012,89322,153
Additions1,2004,8266,026
At 31 July 202310,46017,71928,179
Depreciation
At 1 August 20223,25110,59313,844
For the year1,0831,7852,868
At 31 July 20234,33412,37816,712
Net Book Amounts
At 31 July 20236,1265,34111,467
At 31 July 20226,0092,3008,309
5. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors51,56364,598
Other debtors423,838348,108
475,401412,706

City (Scotland) Limited

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Bank loans and overdrafts24,44823,266
Bank loans129,679132,170
Trade creditors9,1937,974
Taxation and social security186,393171,736
Accrued expenses7,3138,106
357,026343,252
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans273,488199,591
273,488199,591
8. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation2,1801,835
2,1801,835
9. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
100 Ordinary of £1 each100100
100100
10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
At the balance sheet date, the director owed the company an amount of £67,879.

City (Scotland) Limited

11. SECURED DEBTS
The compny has a loan from The Royal Bank of Scotland PLC of £nil (2022: £nil).
The company has granted a floating charge over all the property and undertakings of the company to The Royal Bank of Scotland PLC.