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REGISTERED NUMBER: 08756573 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 OCTOBER 2023

FOR

CITY CULTURE LIMITED

CITY CULTURE LIMITED (REGISTERED NUMBER: 08756573)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CITY CULTURE LIMITED

COMPANY INFORMATION
for the Year Ended 30 October 2023







DIRECTORS: W K Morris
Mrs J Morris





REGISTERED OFFICE: Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF





REGISTERED NUMBER: 08756573 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

CITY CULTURE LIMITED (REGISTERED NUMBER: 08756573)

BALANCE SHEET
30 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 57,127 -
Investment property 5 452,862 452,862
509,989 452,862

CURRENT ASSETS
Debtors 6 1,415 5,762
Cash at bank and in hand 3,954 6,688
5,369 12,450
CREDITORS
Amounts falling due within one year 7 25,967 20,174
NET CURRENT LIABILITIES (20,598 ) (7,724 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

489,391

445,138

CREDITORS
Amounts falling due after more than one year 8 (322,316 ) (288,623 )

PROVISIONS FOR LIABILITIES (26,686 ) (21,850 )
NET ASSETS 140,389 134,665

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 93,150 93,150
Retained earnings 47,139 41,415
SHAREHOLDERS' FUNDS 140,389 134,665

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

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

CITY CULTURE LIMITED (REGISTERED NUMBER: 08756573)

BALANCE SHEET - continued
30 October 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 28 October 2024 and were signed on its behalf by:





W K Morris - Director


CITY CULTURE LIMITED (REGISTERED NUMBER: 08756573)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 October 2023


1. STATUTORY INFORMATION

City Culture Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office at Beckside Court, Annie Reed Road, Beverley, HU17 0LF and principle place of business at 29 Spring Bank, Hull, HU3 1AF.

The principal activity of the Company is that of a property developer.

The presentational currency of the financial statements is Pound Sterling (£).

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the director, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Taxation
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.

CITY CULTURE LIMITED (REGISTERED NUMBER: 08756573)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 October 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 63,474
At 30 October 2023 63,474
DEPRECIATION
Charge for year 6,347
At 30 October 2023 6,347
NET BOOK VALUE
At 30 October 2023 57,127

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 October 2022
and 30 October 2023 452,862
NET BOOK VALUE
At 30 October 2023 452,862
At 30 October 2022 452,862

The directors have reviewed the carrying amount of the investment property at the year end based on similarly property values and committed rental income and adjusted the fair value accordingly.

Fair value at 30 October 2023 is represented by:
£   
Valuation in 2020 115,000
Cost 337,862
452,862

CITY CULTURE LIMITED (REGISTERED NUMBER: 08756573)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 October 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,415 5,762

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,109 11,394
Hire purchase contracts 7,167 -
Taxation and social security - 2,789
Other creditors 6,691 5,991
25,967 20,174

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 268,044 288,623
Hire purchase contracts 54,272 -
322,316 288,623

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 223,856 240,078

9. SECURED DEBTS

The bank mortgage is secured on the respective property by a legal charge & mortgage debenture, together with a guarantee from the director. The secured bank loan at 31st October 2023 amounted to £241,429
(2022 : £255,409).

10. RESERVES
Revaluation
reserve
£   
At 31 October 2022
and 30 October 2023 93,150

11. RELATED PARTY DISCLOSURES

The director has a loan from the company at the yearend amounting to £820 (2022: £4,320). This loan was repaid following the yearend.

CITY CULTURE LIMITED (REGISTERED NUMBER: 08756573)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 October 2023


12. ULTIMATE CONTROLLING PARTY

The company is under the control of the sole director who own's 100% of the issued share capital.