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REGISTERED NUMBER: 09860684 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CITADEL CONTRACTS LIMITED

CITADEL CONTRACTS LIMITED (REGISTERED NUMBER: 09860684)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CITADEL CONTRACTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: C C Paine





REGISTERED OFFICE: The River Cafe
Rock Channel
Strand Quay
Rye
East Sussex
TN31 7DE





REGISTERED NUMBER: 09860684 (England and Wales)





ACCOUNTANTS: Cassidys Chartered Accountants
South Stour Offices
Roman Road
Mersham
Ashford
Kent
TN25 7HS

CITADEL CONTRACTS LIMITED (REGISTERED NUMBER: 09860684)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 260,506 221,753

CURRENT ASSETS
Stocks 386,571 158,775
Debtors 5 703,924 403,932
Cash at bank and in hand 26,073 176,839
1,116,568 739,546
CREDITORS
Amounts falling due within one year 6 113,091 150,255
NET CURRENT ASSETS 1,003,477 589,291
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,263,983

811,044

CREDITORS
Amounts falling due after more than one year 7 (829,842 ) (369,859 )

PROVISIONS FOR LIABILITIES (32,159 ) (21,963 )
NET ASSETS 401,982 419,222

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 401,882 419,122
401,982 419,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

CITADEL CONTRACTS LIMITED (REGISTERED NUMBER: 09860684)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2024 and were signed by:





C C Paine - Director


CITADEL CONTRACTS LIMITED (REGISTERED NUMBER: 09860684)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Citadel Contracts Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off 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 etc - 33% on cost, 25% on reducing balance and 15% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

CITADEL CONTRACTS LIMITED (REGISTERED NUMBER: 09860684)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 149,126 323,007 472,133
Additions - 104,449 104,449
At 31 December 2023 149,126 427,456 576,582
DEPRECIATION
At 1 January 2023 42,969 207,411 250,380
Charge for year 14,912 50,784 65,696
At 31 December 2023 57,881 258,195 316,076
NET BOOK VALUE
At 31 December 2023 91,245 169,261 260,506
At 31 December 2022 106,157 115,596 221,753

CITADEL CONTRACTS LIMITED (REGISTERED NUMBER: 09860684)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 167,540
Additions 102,538
Transfer to ownership (141,042 )
At 31 December 2023 129,036
DEPRECIATION
At 1 January 2023 104,648
Charge for year 25,901
Transfer to ownership (96,305 )
At 31 December 2023 34,244
NET BOOK VALUE
At 31 December 2023 94,792
At 31 December 2022 62,892

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 195,194 36,005
Other debtors 508,730 367,927
703,924 403,932

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 18,029 15,356
Trade creditors 64,052 62,643
Taxation and social security 27,771 67,290
Other creditors 3,239 4,966
113,091 150,255

CITADEL CONTRACTS LIMITED (REGISTERED NUMBER: 09860684)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 73,641 9,731
Amounts owed to group undertakings 756,201 360,128
829,842 369,859

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
C C Paine
Balance outstanding at start of year 193,069 178,369
Amounts advanced 35,641 14,700
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 228,710 193,069

9. RELATED PARTY DISCLOSURES

Martello Developments Limited
Holding Company

2023 2022
£ £
Amount due to related party at the balance sheet date 756,201 360,128

10. ULTIMATE CONTROLLING PARTY

The controlling party is Martello Developments Limited.

The ultimate controlling party is D Kowitz.