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REGISTERED NUMBER: 11948103 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CITYTALK GROUP LTD

CITYTALK GROUP LTD (REGISTERED NUMBER: 11948103)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CITYTALK GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







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 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 517,991 586,741
Tangible assets 5 615,856 437,483
Investments 6 200 200
1,134,047 1,024,424

CURRENT ASSETS
Stocks 144,808 76,543
Debtors 7 1,230,844 826,557
Cash at bank 58,307 47,819
1,433,959 950,919
CREDITORS
Amounts falling due within one year 8 (1,627,154 ) (1,093,019 )
NET CURRENT LIABILITIES (193,195 ) (142,100 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

940,852

882,324

CREDITORS
Amounts falling due after more than one
year

9

(875,069

)

(845,640

)
NET ASSETS 65,783 36,684

CAPITAL AND RESERVES
Called up share capital 12 350,000 350,000
Retained earnings (284,217 ) (313,316 )
SHAREHOLDERS' FUNDS 65,783 36,684

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 2024


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 30 July 2024 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 2024

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 2024

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 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 687,501
AMORTISATION
At 1 April 2023 100,760
Amortisation for year 68,750
At 31 March 2024 169,510
NET BOOK VALUE
At 31 March 2024 517,991
At 31 March 2023 586,741

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 21,955 100,055 366,682 38,323 527,015
Additions - 31,600 391,983 6,633 430,216
Disposals (21,595 ) - (170,153 ) - (191,748 )
Reclassification/transfer - - 44,158 - 44,158
At 31 March 2024 360 131,655 632,670 44,956 809,641
DEPRECIATION
At 1 April 2023 4,393 27,689 37,271 20,179 89,532
Charge for year 2,648 15,714 96,265 10,755 125,382
Eliminated on disposal (6,910 ) - (58,378 ) - (65,288 )
Reclassification/transfer - - 44,159 - 44,159
At 31 March 2024 131 43,403 119,317 30,934 193,785
NET BOOK VALUE
At 31 March 2024 229 88,252 513,353 14,022 615,856
At 31 March 2023 17,562 72,366 329,411 18,144 437,483

CITYTALK GROUP LTD (REGISTERED NUMBER: 11948103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 356,981
Additions 388,233
Disposals (170,153 )
Reclassification/transfer 44,158
At 31 March 2024 619,219
DEPRECIATION
At 1 April 2023 25,646
Charge for year 94,436
Eliminated on disposal (58,378 )
Reclassification/transfer 53,358
At 31 March 2024 115,062
NET BOOK VALUE
At 31 March 2024 504,157
At 31 March 2023 331,335

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 200
NET BOOK VALUE
At 31 March 2024 200
At 31 March 2023 200

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 165,873 324,113
Other debtors 1,064,971 502,444
1,230,844 826,557

CITYTALK GROUP LTD (REGISTERED NUMBER: 11948103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 187,218 304,568
Hire purchase contracts 121,558 90,877
Trade creditors 452,729 404,162
Amounts owed to group undertakings 152,624 200
Taxation and social security 321,304 210,783
Other creditors 391,721 82,429
1,627,154 1,093,019

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 10) 272,537 631,665
Hire purchase contracts 317,438 213,975
Amounts owed to group undertakings 285,094 -
875,069 845,640

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 14,423
Hire purchase 2,563 -
2,563 14,423

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 187,218 304,568

Amounts falling due between one and two years:
Bank loans - 1-2 years 154,712 307,923

Amounts falling due between two and five years:
Bank loans - 2-5 years 117,825 309,319

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 2024

11. DEFERRED TAX
£   
Balance at 1 April 2023 (112,872 )
Charge to Income Statement during year 28,371
Balance at 31 March 2024 (84,501 )

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
350,000 Ordinary £1 350,000 350,000