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REGISTERED NUMBER: 04124939 (England and Wales)















Citrus House Limited

Unaudited Financial Statements for the Year Ended 30 November 2023






Citrus House Limited (Registered number: 04124939)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Citrus House Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr D A Sewell
D Silverbeck
T Silverbeck





REGISTERED OFFICE: 71-73 Hoghton Street
Southport
Merseyside
PR9 0PR





REGISTERED NUMBER: 04124939 (England and Wales)





ACCOUNTANTS: Advance Chartered Certified Accountants
71-73 Hoghton Street
Southport
Merseyside
PR9 0PR

Citrus House Limited (Registered number: 04124939)

Abridged Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,644 36,779
Investments 5 1 1
Investment property 6 4,728,849 4,713,000
4,760,494 4,749,780

CURRENT ASSETS
Debtors 10,942 19,435
Cash at bank 58,349 71,299
69,291 90,734
CREDITORS
Amounts falling due within one year 139,327 164,311
NET CURRENT LIABILITIES (70,036 ) (73,577 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,690,458

4,676,203

CREDITORS
Amounts falling due after more than one
year

(1,923,073

)

(1,885,014

)

PROVISIONS FOR LIABILITIES (55,143 ) (53,604 )
NET ASSETS 2,712,242 2,737,585

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,712,240 2,737,583
SHAREHOLDERS' FUNDS 2,712,242 2,737,585

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Citrus House Limited (Registered number: 04124939)

Abridged Balance Sheet - continued
30 November 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 10 October 2024 and were signed on its behalf by:




D Silverbeck - Director



Mr D A Sewell - Director


Citrus House Limited (Registered number: 04124939)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Citrus House 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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), as adapted by Section 1A of FRS 102, and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

Preparation of consolidated financial statements
The financial statements contain information about Citrus House Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rent provided in the normal course of business and is shown net of VAT. Rental income is recognised equally over the course of the relevant lease agreement.

Tangible fixed assets
All fixed assets are initially recorded at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of the asset as follows:

Plant & Machinery etc- 15% and 20% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset and is credited or charged to profit or loss.

Investments in subsidiaries
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Citrus House Limited (Registered number: 04124939)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Citrus House Limited (Registered number: 04124939)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

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

Citrus House Limited (Registered number: 04124939)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022 76,605
Additions 532
At 30 November 2023 77,137
DEPRECIATION
At 1 December 2022 39,826
Charge for year 5,667
At 30 November 2023 45,493
NET BOOK VALUE
At 30 November 2023 31,644
At 30 November 2022 36,779

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 December 2022
and 30 November 2023 1
NET BOOK VALUE
At 30 November 2023 1
At 30 November 2022 1

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 4,713,000
Revaluations 15,849
At 30 November 2023 4,728,849
NET BOOK VALUE
At 30 November 2023 4,728,849
At 30 November 2022 4,713,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2023 4,728,849

Citrus House Limited (Registered number: 04124939)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,521,995 1,577,682

Other loans are secured by fixed and floating charges over the company and all assets present and future.

8. ULTIMATE PARENT COMPANY

Whitechapel Enterprises Limited is regarded by the Directors and being the company's ultimate parent company.