REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 OCTOBER 2023 |
FOR |
CITY CULTURE LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
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 |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
At 30 October 2023 |
DEPRECIATION |
Charge for year |
At 30 October 2023 |
NET BOOK VALUE |
At 30 October 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 October 2022 |
and 30 October 2023 |
NET BOOK VALUE |
At 30 October 2023 |
At 30 October 2022 |
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 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts |
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 |
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. |