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REGISTERED NUMBER: 10423724 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024

FOR

CITY GLOBAL FUTURES LTD

CITY GLOBAL FUTURES LTD (REGISTERED NUMBER: 10423724)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 5 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CITY GLOBAL FUTURES LTD

COMPANY INFORMATION
for the Year Ended 5 APRIL 2024







DIRECTORS: S Hilton
Ms J M Everitt





REGISTERED OFFICE: 61 Queen Square
Bristol
BS1 4JZ





REGISTERED NUMBER: 10423724 (England and Wales)





ACCOUNTANTS: Burnside
Chartered Accountants
and Statutory Auditor
61 Queen Square
Bristol
BS1 4JZ

CITY GLOBAL FUTURES LTD (REGISTERED NUMBER: 10423724)

BALANCE SHEET
5 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,080 688

CURRENT ASSETS
Debtors 5 6,343 6,844
Cash at bank 88,507 111,878
94,850 118,722
CREDITORS
Amounts falling due within one year 6 95,686 100,374
NET CURRENT (LIABILITIES)/ASSETS (836 ) 18,348
TOTAL ASSETS LESS CURRENT
LIABILITIES

244

19,036

PROVISIONS FOR LIABILITIES 7 114 -
NET ASSETS 130 19,036

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 128 19,034
SHAREHOLDERS' FUNDS 130 19,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2024 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 GLOBAL FUTURES LTD (REGISTERED NUMBER: 10423724)

BALANCE SHEET - continued
5 APRIL 2024


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 4 January 2025 and were signed on its behalf by:





S Hilton - Director


CITY GLOBAL FUTURES LTD (REGISTERED NUMBER: 10423724)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 5 APRIL 2024

1. STATUTORY INFORMATION

City Global Futures Ltd 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.

The presentation currency of the financial statements is the 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover includes project related grant income where appropriate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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.


CITY GLOBAL FUTURES LTD (REGISTERED NUMBER: 10423724)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 5 APRIL 2024

2. ACCOUNTING POLICIES - continued
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.

Financial instruments
Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company may not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.

Going concern
The directors have reviewed the going concern status of the business for the foreseeable future and fully expect that the company will remain a going concern and will have sufficient working capital to meet its requirements for the foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

CITY GLOBAL FUTURES LTD (REGISTERED NUMBER: 10423724)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 5 APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 6 April 2023 721 6,311 7,032
Additions - 957 957
At 5 April 2024 721 7,268 7,989
DEPRECIATION
At 6 April 2023 362 5,982 6,344
Charge for year 90 475 565
At 5 April 2024 452 6,457 6,909
NET BOOK VALUE
At 5 April 2024 269 811 1,080
At 5 April 2023 359 329 688

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,193 3,654
Corporation tax recoverable - 2,859
Deferred tax asset - 331
Prepayments 150 -
6,343 6,844

Deferred tax asset
2023
£   
Accelerated capital allowances (130 )
Other timing differences 461
331

CITY GLOBAL FUTURES LTD (REGISTERED NUMBER: 10423724)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 5 APRIL 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Social security and other taxes 364 302
VAT 3,247 1,845
Other creditors 23 2,425
Directors' current accounts 82,280 88,954
Accruals and deferred income 9,772 6,848
95,686 100,374

7. PROVISIONS FOR LIABILITIES
2024
£   
Deferred tax
Accelerated capital allowances 205
Tax losses carried forward (91 )
114

Deferred
tax
£   
Balance at 6 April 2023 (331 )
Provided during year 445
Balance at 5 April 2024 114

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
2 2

CITY GLOBAL FUTURES LTD (REGISTERED NUMBER: 10423724)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 5 APRIL 2024

9. RELATED PARTY DISCLOSURES

During the year the company entered into the following related party transactions:

S Hilton (Director)
During the year S Hilton maintained a loan account with the company, of which £29,642 (2023 - £37,316) was due to S Hilton at 5 April 2024. No interest is charged on this loan.

Ms J Everitt (Director)
During the year Ms J Everitt maintained a loan account with the company, of which £52,638 (2023 - £51,638) was due to Ms J Everitt at 5 April 2024. No interest is charged on this loan.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who jointly own the entire issued share capital of the company.