IRIS Accounts Production v24.3.2.46 SC694474 Board of Directors 1.5.23 30.4.24 30.4.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC6944742023-04-30SC6944742024-04-30SC6944742023-05-012024-04-30SC6944742022-04-30SC6944742022-05-012023-04-30SC6944742023-04-30SC694474ns15:Scotland2023-05-012024-04-30SC694474ns14:PoundSterling2023-05-012024-04-30SC694474ns10:Director12023-05-012024-04-30SC694474ns10:PrivateLimitedCompanyLtd2023-05-012024-04-30SC694474ns10:SmallEntities2023-05-012024-04-30SC694474ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-30SC694474ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-30SC694474ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-30SC694474ns10:FullAccounts2023-05-012024-04-30SC694474ns10:Director22023-05-012024-04-30SC694474ns10:Director32023-05-012024-04-30SC694474ns10:RegisteredOffice2023-05-012024-04-30SC694474ns5:CurrentFinancialInstruments2024-04-30SC694474ns5:CurrentFinancialInstruments2023-04-30SC694474ns5:ShareCapital2024-04-30SC694474ns5:ShareCapital2023-04-30SC694474ns5:RetainedEarningsAccumulatedLosses2024-04-30SC694474ns5:RetainedEarningsAccumulatedLosses2023-04-30
REGISTERED NUMBER: SC694474 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

City Equity Long Term Solutions Ltd

City Equity Long Term Solutions Ltd (Registered number: SC694474)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


City Equity Long Term Solutions Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: K Haughey
G Cheung
J Simmonette





REGISTERED OFFICE: Caledonia House
Lawmoor Street
Glasgow
G5 0US





REGISTERED NUMBER: SC694474 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

City Equity Long Term Solutions Ltd (Registered number: SC694474)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £   
CURRENT ASSETS
Investments 4 119,260 91,045
Cash at bank 4,377 7,092
123,637 98,137
CREDITORS
Amounts falling due within one year 5 127,820 127,760
NET CURRENT LIABILITIES (4,183 ) (29,623 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,183

)

(29,623

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,283 ) (29,723 )
(4,183 ) (29,623 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

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

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 27 January 2025 and were signed on its behalf by:





J Simmonette - Director


City Equity Long Term Solutions Ltd (Registered number: SC694474)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

City Equity Long Term Solutions Ltd is a private company, limited by shares , registered in Scotland. 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.

The financial statements have been prepared on the basis that the company will continue to trade for the foreseeable future. At 30 April 2024, the company's liabilities exceeded its assets by £4,183

The company is dependant upon the continued support of its creditors and directors. The directors are confident that this support will be maintained for the foreseeable future. Should this support be withdrawn and the company be unable to continue trading, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

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.

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.

Current asset investments
Current asset investments are held at fair value and changes in fair value are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

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

4. CURRENT ASSET INVESTMENTS
30.4.24 30.4.23
£    £   
Current asset investments 119,260 91,045

City Equity Long Term Solutions Ltd (Registered number: SC694474)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 125,900 125,900
Accrued expenses 1,920 1,860
127,820 127,760

6. RELATED PARTY DISCLOSURES

A balance of £125,900 (2023: £125,900) is owed to Lord Haughey Kt OBE at the year end date. This loan carries no interest and has no fixed repayment terms.

Lord Haughey Kt OBE is the sole shareholder of the Company.