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COMPANY REGISTRATION NUMBER: 09294318
City Inn Apartments Limited
Unaudited Financial Statements
30 November 2023
City Inn Apartments Limited
Directors' Report
Year ended 30 November 2023
The directors present their report and the unaudited financial statements of the company for the year ended 30 November 2023 .
Directors
The directors who served the company during the year were as follows:
Mr Q M Rateb
Mr P K Kishore
Dividends
The directors do not recommend the payment of a dividend.
This report was approved by the board of directors on 22 August 2024 and signed on behalf of the board by:
Mr P K Kishore
Director
Registered office:
56 Bridge Lane
London
NW11 OEH
City Inn Apartments Limited
Statement of Income and Retained Earnings
Year ended 30 November 2023
2023
2022
Note
£
£
Administrative expenses
3,354
962
Other operating income
4
9,250
-------
----
Operating profit/(loss)
5,896
( 962)
Interest payable and similar expenses
6
163
225
-------
-------
Profit/(loss) before taxation
5,733
( 1,187)
Tax on profit/(loss)
-------
-------
Profit/(loss) for the financial year and total comprehensive income
5,733
( 1,187)
-------
-------
All the activities of the company are from continuing operations.
City Inn Apartments Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Current assets
Debtors
7
9,250
Cash at bank and in hand
6,832
9,333
--------
-------
16,082
9,333
Creditors: amounts falling due within one year
8
12,597
11,581
--------
--------
Net current assets/(liabilities)
3,485
( 2,248)
-------
-------
Total assets less current liabilities
3,485
( 2,248)
-------
-------
Net assets/(liabilities)
3,485
( 2,248)
-------
-------
Capital and reserves
Called up share capital
9
1
1
Profit and loss account
3,484
( 2,249)
-------
-------
Shareholders funds/(deficit)
3,485
( 2,248)
-------
-------
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of directors and authorised for issue on 22 August 2024 , and are signed on behalf of the board by:
Mr P K Kishore
Director
Company registration number: 09294318
City Inn Apartments Limited
Statement of Cash Flows
Year ended 30 November 2023
2023
2022
£
£
Cash flows from operating activities
Profit/(loss) for the financial year
5,733
( 1,187)
Adjustments for:
Interest payable and similar expenses
163
225
Accrued expenses/(income)
213
( 3,011)
Changes in:
Trade and other debtors
( 9,250)
Trade and other creditors
2,623
4,189
-------
-------
Cash generated from operations
( 518)
216
Interest paid
( 163)
( 225)
Tax paid
( 215)
----
----
Net cash used in operating activities
( 681)
( 224)
----
----
Cash flows from financing activities
Proceeds from borrowings
( 1,820)
( 1,785)
-------
-------
Net cash used in financing activities
( 1,820)
( 1,785)
-------
-------
Net decrease in cash and cash equivalents
( 2,501)
( 2,009)
Cash and cash equivalents at beginning of year
9,333
11,342
-------
--------
Cash and cash equivalents at end of year
6,832
9,333
-------
--------
City Inn Apartments Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 56 Bridge Lane, London, NW11 OEH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Other operating income
2023
2022
£
£
Management charges receivable
9,250
-------
----
5. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:
2023
2022
No.
No.
Administrative staff
1
1
Management staff
1
2
----
----
2
3
----
----
The aggregate payroll costs incurred during the year, relating to the above, were:
2023
2022
£
£
Wages and salaries
27
----
----
6. Interest payable and similar expenses
2023
2022
£
£
Interest on banks loans and overdrafts
163
225
----
----
7. Debtors
2023
2022
£
£
Other debtors
9,250
-------
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,075
6,895
Accruals and deferred income
710
497
Other creditors
6,812
4,189
--------
--------
12,597
11,581
--------
--------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
10. Analysis of changes in net debt
At 1 Dec 2022
Cash flows
At 30 Nov 2023
£
£
£
Cash at bank and in hand
9,333
(2,501)
6,832
Debt due within one year
(6,895)
1,820
(5,075)
-------
-------
-------
2,438
( 681)
1,757
-------
-------
-------