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REGISTERED NUMBER: 03529720 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Citadel & Country Limited

Citadel & Country Limited (Registered number: 03529720)

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 & Country Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S Townsend
H Chapman
T Capponi
E Chandler





SECRETARY: Uanco Limited





REGISTERED OFFICE: 40 Welbeck Street
London
W1G 8LN





REGISTERED NUMBER: 03529720 (England and Wales)





ACCOUNTANTS: Pawley & Malyon
Salisbury House
London
EC2M 5SQ

Citadel & Country Limited (Registered number: 03529720)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 33,407,219 34,081,276

CURRENT ASSETS
Debtors 5 32,782 20,725
Cash at bank and in hand 55,974 15,374
88,756 36,099
CREDITORS
Amounts falling due within one year 6 1,590,888 1,540,064
NET CURRENT LIABILITIES (1,502,132 ) (1,503,965 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,905,087

32,577,311

CREDITORS
Amounts falling due after more than
one year

7

(647,311

)

(706,735

)

PROVISIONS FOR LIABILITIES (6,620,152 ) (5,159,386 )
NET ASSETS 24,637,624 26,711,190

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Revaluation reserve 8 24,811,877 24,811,877
Retained earnings (184,253 ) 1,889,313
24,637,624 26,711,190

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 directors acknowledge their 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 & Country Limited (Registered number: 03529720)

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 Board of Directors and authorised for issue on 27 June 2024 and were signed on its behalf by:





H Chapman - Director


Citadel & Country Limited (Registered number: 03529720)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. Statutory information

Citadel & Country 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.

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 as modified by the revaluation of certain assets.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. Employees and directors

The average number of employees during the year was 4 (2022 - 4 ) .

Citadel & Country Limited (Registered number: 03529720)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. Investment property
Total
£   
Fair value
At 1 January 2023 34,081,276
Revaluations (674,057 )
At 31 December 2023 33,407,219
Net book value
At 31 December 2023 33,407,219
At 31 December 2022 34,081,276

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2014 25,880,439
Valuation in 2015 (1,545,142 )
Valuation in 2016 4,532,704
Valuation in 2017 1,309,993
Valuation in 2018 383,540
Valuation in 2019 (1,282,087 )
Valuation in 2020 1,522,661
Valuation in 2021 (2,475,240 )
Valuation in 2022 1,748,271
Valuation in 2023 (674,057 )
Cost 4,006,137
33,407,219

5. Debtors: amounts falling due within one year
31/12/23 31/12/22
£    £   
Other debtors 32,782 20,725

6. Creditors: amounts falling due within one year
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 50,192 51,206
Trade creditors 123,907 98,897
Other creditors 1,416,789 1,389,961
1,590,888 1,540,064

Citadel & Country Limited (Registered number: 03529720)

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
£    £   
Bank loans 647,311 706,735

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 461,850 517,531

8. Reserves
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 24,811,877