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Registration number: 03773645

Citibond Investments Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 30 June 2024

 

Citibond Investments Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Citibond Investments Limited

(Registration number: 03773645)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

156

 

258

Investment property

5

 

3,176,570

 

3,185,000

   

3,176,726

 

3,185,258

Current assets

   

 

Debtors

6

2,611

 

10,108

 

Cash at bank and in hand

 

114,159

 

112,133

 

 

116,770

 

122,241

 

Creditors: Amounts falling due within one year

7

(25,401)

 

(39,256)

 

Net current assets

   

91,369

 

82,985

Total assets less current liabilities

   

3,268,095

 

3,268,243

Provisions for liabilities

 

(276,869)

 

(276,869)

Net assets

   

2,991,226

 

2,991,374

Capital and reserves

   

 

Called up share capital

1,393,500

 

1,393,500

 

Profit and loss account

1,597,726

 

1,597,874

 

Total equity

   

2,991,226

 

2,991,374

 

Citibond Investments Limited

(Registration number: 03773645)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 September 2024 and signed on its behalf by:
 

.........................................
Mr D. Atkinson
Director

 

Citibond Investments Limited

Notes to the Unaudited Financial Statements For The Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Bell Farm Court
Minskip Road
Boroughbridge
York
YO51 9SD

These financial statements were authorised for issue by the Board on 12 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

The turnover of the company comprises income from letting of investment property.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

 

Citibond Investments Limited

Notes to the Unaudited Financial Statements For The Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% on cost

Fixtures and fittings

20% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Share capital

Ordinary shares are classified as equity.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

881

881

At 30 June 2024

881

881

Depreciation

At 1 July 2023

623

623

Charge for the year

102

102

At 30 June 2024

725

725

Carrying amount

At 30 June 2024

156

156

At 30 June 2023

258

258

 

Citibond Investments Limited

Notes to the Unaudited Financial Statements For The Year Ended 30 June 2024

5

Investment properties

2024
£

At 1 July

3,185,000

Disposals

(8,430)

At 30 June

3,176,570


A valuation of the properties was carried out at the 30 June 2023 by FSS Chartered Surveyors, a firm with relevant experience in the location and category of properties valued. The valuations are based on open market value.

The Directors considered the valuations at the year end and believe the current values are not materially different to those in the accounts.

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

108

Prepayments

2,611

-

Other debtors

-

10,000

 

2,611

10,108

7

Creditors

2024
£

2023
£

Due within one year

Trade creditors

2,128

45

Taxation and social security

6,003

2,586

Other creditors

17,270

36,625

25,401

39,256