Company Registration No. 08798101 (England and Wales)
CITY OF GOLD LIMITED
Unaudited accounts
for the year ended 31 March 2024
CITY OF GOLD LIMITED
Unaudited accounts
Contents
CITY OF GOLD LIMITED
Company Information
for the year ended 31 March 2024
Directors
Mr B W Bibby
Mrs D Bibby
Company Number
08798101 (England and Wales)
Registered Office
The Downshire
71 Baldwins Lane
Croxley Green Rickmansworth
Herts
WD3 3LT
UK
Accountants
Dempsey & Co
The Downshire
71 Baldwins Lane Croxley Green
Rickmansworth
Herts
WD3 3LT
CITY OF GOLD LIMITED
Statement of financial position
as at 31 March 2024
Intangible assets
107,500
118,250
Tangible assets
1,464,398
1,360,538
Cash at bank and in hand
43,908
46,257
Creditors: amounts falling due within one year
(742,393)
(575,397)
Net current liabilities
(606,798)
(441,975)
Total assets less current liabilities
965,100
1,036,813
Creditors: amounts falling due after more than one year
(234,691)
(277,682)
Provisions for liabilities
Deferred tax
(114,342)
(95,301)
Net assets
616,067
663,830
Called up share capital
100
100
Profit and loss account
615,967
663,730
Shareholders' funds
616,067
663,830
For the year ending 31 March 2024 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 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 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 of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by
Mr B W Bibby
Director
Company Registration No. 08798101
CITY OF GOLD LIMITED
Notes to the Accounts
for the year ended 31 March 2024
CITY OF GOLD LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08798101. The registered office is The Downshire, 71 Baldwins Lane, Croxley Green Rickmansworth, Herts, WD3 3LT, UK.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents arcade income, excluding Value Added Tax
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:
Land & buildings
2% straight line
Plant & machinery
10% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
25% redicing balance
Goodwill represents the excess of cost of acquisition over the fair value of the separable net asset acquired. Goodwill is amortised through the profit and loss account in equal instalments over its useful life at a rate of 5% per annum.
Deferred taxation is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account in the year in which they are made.
CITY OF GOLD LIMITED
Notes to the Accounts
for the year ended 31 March 2024
Rentals payable under operating leases are charged to the profit and loss account as incurred.
These financial statements have been prepared on a going concern basis.
4
Intangible fixed assets
Goodwill
Charge for the year
10,750
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
1,054,674
849,806
93,235
1,997,715
Additions
21,548
231,414
24,397
277,359
Disposals
-
(62,351)
-
(62,351)
At 31 March 2024
1,076,222
1,018,869
117,632
2,212,723
At 1 April 2023
161,630
422,555
52,992
637,177
Charge for the year
21,906
101,881
15,588
139,375
On disposals
-
(28,227)
-
(28,227)
At 31 March 2024
183,536
496,209
68,580
748,325
At 31 March 2024
892,686
522,660
49,052
1,464,398
At 31 March 2023
893,044
427,251
40,243
1,360,538
Amounts falling due within one year
Other debtors
61,702
65,830
CITY OF GOLD LIMITED
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
118,183
77,160
Trade creditors
184,567
193,812
Other creditors
20,398
24,513
Loans from directors
419,245
279,912
£323133 of the bank loan and overdraft is secured. Included in other creditors is tax and social security totalling £2792 (2023-£3037)
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
234,691
277,682
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
The company was under the control of Mr.B.Bibby throughout the year. Mr Bibby and his spouse are the company shareholders.
11
Average number of employees
During the year the average number of employees was 35 (2023: 35).