Registered number
11831904
City Inn Express London Fields Limited
Unaudited Filleted Accounts
29 February 2024
TEMPLETONS ( HOLDINGS ) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
City Inn Express London Fields Limited
Registered number: 11831904
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,161 1,451
Current assets
Debtors 4 100,000 145,052
Cash at bank and in hand 845,368 433,884
945,368 578,936
Creditors: amounts falling due within one year 5 (264,912) (239,886)
Net current assets 680,456 339,050
Total assets less current liabilities 681,617 340,501
Creditors: amounts falling due after more than one year 6 (13,425) (23,425)
Net assets 668,192 317,076
Capital and reserves
Called up share capital 100 100
Profit and loss account 668,092 316,976
Shareholders' funds 668,192 317,076
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Hussain
Director
Approved by the board on 29 November 2024
City Inn Express London Fields Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance method
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 3,123
At 29 February 2024 3,123
Depreciation
At 1 March 2023 1,672
Charge for the year 290
At 29 February 2024 1,962
Net book value
At 29 February 2024 1,161
At 28 February 2023 1,451
4 Debtors 2024 2023
£ £
Trade debtors - 45,052
Other debtors 100,000 100,000
100,000 145,052
The amount of £100,000 under other debtors was for a loan given to a charity organisation,
Waltham Forest I Association (Reg. Charity number - 270323) and are interest free and
repayable in full on demand.
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 24,167 24,415
Taxation and social security costs 121,609 84,484
Other creditors 109,136 120,987
264,912 239,886
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,425 23,425
7 Other information
City Inn Express London Fields Limited is a private company limited by shares and incorporated in England. Its registered office is:
309
Hoe Street
Walthamstow
London
E17 9BG
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