2022-12-012023-11-302023-11-30false03121359CITY LIVING (LEICESTER) 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CITY LIVING (LEICESTER) LIMITED

Registered Number
03121359
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

CITY LIVING (LEICESTER) LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

S V Wells

Registered Address

15a Church Lane
Leicester
LE2 3WG

Registered Number

03121359 (England and Wales)
CITY LIVING (LEICESTER) LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property31,810,0001,650,000
1,810,0001,650,000
Current assets
Debtors4703618
Cash at bank and on hand57,79697,765
58,49998,383
Creditors amounts falling due within one year5(35,067)(27,023)
Net current assets (liabilities)23,43271,360
Total assets less current liabilities1,833,4321,721,360
Creditors amounts falling due after one year6(583,092)(666,975)
Provisions for liabilities7(82,581)(43,380)
Net assets1,167,7591,011,005
Capital and reserves
Called up share capital100100
Other reserves722,856562,856
Profit and loss account444,803448,049
Shareholders' funds1,167,7591,011,005
The financial statements were approved and authorised for issue by the Director on 28 August 2024, and are signed on its behalf by:
S V Wells
Director
Registered Company No. 03121359
CITY LIVING (LEICESTER) LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20232022
Average number of employees during the year11
3.Investment property
The fair value of the investment properties have been arrived on the basis of a valuation carried out a year end by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

£
Fair value at 01 December 221,650,000
Fair value adjustments160,000
At 30 November 231,810,000
4.Debtors: amounts due within one year

2023

2022

££
Prepayments and accrued income703618
Total703618
5.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts25,00019,400
Taxation and social security8,9566,571
Other creditors6651
Accrued liabilities and deferred income1,0451,001
Total35,06727,023
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts144,342173,225
Other creditors438,750493,750
Total583,092666,975
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)82,58143,380
Total82,58143,380