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Registered number: 06624182
City and Mercantile Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Kalculus
Chartered Accountants, Registered Auditors & Business Advisors
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 06624182
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,533,630 1,568,485
1,533,630 1,568,485
CURRENT ASSETS
Debtors 5 - 150
Cash at bank and in hand 977,618 916,562
977,618 916,712
Creditors: Amounts Falling Due Within One Year 6 (982,613 ) (983,080 )
NET CURRENT ASSETS (LIABILITIES) (4,995 ) (66,368 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,528,635 1,502,117
Creditors: Amounts Falling Due After More Than One Year 7 (1,057,688 ) (1,103,688 )
NET ASSETS 470,947 398,429
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account 469,947 397,429
SHAREHOLDERS' FUNDS 470,947 398,429
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Lance Joseph
Director
25 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
City and Mercantile Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06624182 . The registered office is 5&6 Ironbridge House, 3 Bridge Approach Regents Park Road, London, NW1 8BD.
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
Rendering of services
 Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Leasehold - straight line over 50 years
Fixtures & Fittings - 25% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 1,742,761 5,282 1,748,043
As at 30 June 2024 1,742,761 5,282 1,748,043
Depreciation
As at 1 July 2023 174,276 5,282 179,558
Provided during the period 34,855 - 34,855
As at 30 June 2024 209,131 5,282 214,413
...CONTINUED
Page 3
Page 4
Net Book Value
As at 30 June 2024 1,533,630 - 1,533,630
As at 1 July 2023 1,568,485 - 1,568,485
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 150
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 35,791 37,724
Other creditors 906,273 906,273
Accruals and deferred income 40,549 39,083
982,613 983,080
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,057,688 1,103,688
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 4