Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3122023-01-01falseProperty development company2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03497901 2023-01-01 2023-12-31 03497901 2022-01-01 2022-12-31 03497901 2023-12-31 03497901 2022-12-31 03497901 c:Director1 2023-01-01 2023-12-31 03497901 d:CurrentFinancialInstruments 2023-12-31 03497901 d:CurrentFinancialInstruments 2022-12-31 03497901 d:Non-currentFinancialInstruments 2023-12-31 03497901 d:Non-currentFinancialInstruments 2022-12-31 03497901 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03497901 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03497901 d:ShareCapital 2023-12-31 03497901 d:ShareCapital 2022-12-31 03497901 d:RetainedEarningsAccumulatedLosses 2023-12-31 03497901 d:RetainedEarningsAccumulatedLosses 2022-12-31 03497901 c:FRS102 2023-01-01 2023-12-31 03497901 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03497901 c:FullAccounts 2023-01-01 2023-12-31 03497901 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03497901 2 2023-01-01 2023-12-31 03497901 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 03497901










 
CITYBRISK DEVELOPMENTS LIMITED

UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Fletcher & Partners
Chartered Accountants
Salisbury

 
CITYBRISK DEVELOPMENTS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CITYBRISK DEVELOPMENTS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Citybrisk Developments Limited for the year ended 31 December 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Citybrisk Developments Limited, as a body, in accordance with the terms of our engagement letter dated 20 August 2019Our work has been undertaken solely to prepare for your approval the financial statements of Citybrisk Developments Limited and state those matters that we have agreed to state to the Board of directors of Citybrisk Developments Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Citybrisk Developments Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Citybrisk Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Citybrisk Developments Limited. You consider that Citybrisk Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Citybrisk Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Fletcher and Partners
 
Bridge Street
Salisbury
Wiltshire
SP1 2LZ
25 September 2024
Page 1

 
CITYBRISK DEVELOPMENTS LIMITED
REGISTERED NUMBER: 03497901

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 4 
-
423,520

Debtors
 5 
1,013,693
92,645

Cash at bank and in hand
 6 
703,572
3,862

  
1,717,265
520,027

Creditors: amounts falling due within one year
 7 
(601,496)
(430,889)

Net current assets
  
 
 
1,115,769
 
 
89,138

Total assets less current liabilities
  
1,115,769
89,138

  

Net assets
  
1,115,769
89,138


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,115,669
89,038

  
1,115,769
89,138


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Jonathan Mark Stephens
Director

Date: 25 September 2024
Page 2

 
CITYBRISK DEVELOPMENTS LIMITED
REGISTERED NUMBER: 03497901
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
CITYBRISK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Citybrisk Developments Limited is a private company limited by shares, incorporated in England and Wales with the registered number 03497901. Its registered office is Alexandra House, St John's Street, Salisbury, SP1 2SB. The principal activity of the company is to trade as a property development company. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
CITYBRISK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
CITYBRISK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Stocks

2023
2022
£
£

Land
-
423,520

-
423,520



5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
84,130
92,456

84,130
92,456

Due within one year

Other debtors
929,563
189

1,013,693
92,645



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
703,572
3,862

703,572
3,862



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,468
-

Corporation tax
501,401
-

Other taxation and social security
5,634
-

Other creditors
87,993
335,894

Accruals and deferred income
5,000
94,995

601,496
430,889


Page 6

 
CITYBRISK DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Related party transactions

The controlling party, the PR McEnhill Will Trust was owed £87,993 (2022: £335,894) at the year end.  The directors are also directors of Old Sarum Stadium Limited. At the year end the company was owed £84,130 (2022: £92,456) by Old Sarum Stadium Limited. There was also a loan of £695,000 made in year to the J M McEnhill Will Trust, the other shareholder, which is included in debtors (2022: £nil).


9.


Controlling party

The company was controlled by the PR McEnhill Will Trust, which held 82% of the issued share capital.

 
Page 7