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Citizen X Limited
Unaudited Financial Statements
For the Period 21 July 2023 to 31 July 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 15018247
31 July 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 865
865
CURRENT ASSETS
Debtors 5 10,871
Cash at bank and in hand 15,753
26,624
Creditors: Amounts Falling Due Within One Year 6 (18,016 )
NET CURRENT ASSETS (LIABILITIES) 8,608
TOTAL ASSETS LESS CURRENT LIABILITIES 9,473
NET ASSETS 9,473
CAPITAL AND RESERVES
Called up share capital 7 2
Profit and Loss Account 9,471
SHAREHOLDERS' FUNDS 9,473
For the period ending 31 July 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
T B Ash
Director
26 September 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Citizen X Limited is a private company, limited by shares, incorporated in England & Wales, registered number 15018247 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover from the rendering of services is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is reduced for estimated customer rebates and other similar allowances. Revenue is recognised when services are performed.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings straight line over 3 years
Computer Equipment straight line over 3 years
2.4. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 material 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. Average Number of Employees
Average number of employees during the period was: NIL
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Page 2
Page 3
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 21 July 2023 - - -
Additions 573 357 930
As at 31 July 2024 573 357 930
Depreciation
As at 21 July 2023 - - -
Provided during the period 55 10 65
As at 31 July 2024 55 10 65
Net Book Value
As at 31 July 2024 518 347 865
As at 21 July 2023 - - -
5. Debtors
31 July 2024
£
Due within one year
Trade debtors 10,620
Other debtors 251
10,871
6. Creditors: Amounts Falling Due Within One Year
31 July 2024
£
Other creditors 4,800
Taxation and social security 13,216
18,016
7. Share Capital
31 July 2024
Allotted, called up and fully paid £
2 Ordinary Shares of £ 1.00 each 2
8. Related Party Transactions
At the balance sheet date, the company owed the directors £1,800. This amount is interest free and repayable upon demand.
Page 3