IRIS Accounts Production v24.3.0.553 10179517 director 1.6.23 31.5.24 31.5.24 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh101795172023-05-31101795172024-05-31101795172023-06-012024-05-31101795172022-05-31101795172022-06-012023-05-31101795172023-05-3110179517ns15:EnglandWales2023-06-012024-05-3110179517ns14:PoundSterling2023-06-012024-05-3110179517ns10:Director12023-06-012024-05-3110179517ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3110179517ns10:SmallEntities2023-06-012024-05-3110179517ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3110179517ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3110179517ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3110179517ns10:FullAccounts2023-06-012024-05-3110179517ns10:OrdinaryShareClass12023-06-012024-05-3110179517ns10:RegisteredOffice2023-06-012024-05-3110179517ns5:CurrentFinancialInstruments2024-05-3110179517ns5:CurrentFinancialInstruments2023-05-3110179517ns5:Non-currentFinancialInstruments2024-05-3110179517ns5:Non-currentFinancialInstruments2023-05-3110179517ns5:ShareCapital2024-05-3110179517ns5:ShareCapital2023-05-3110179517ns5:RetainedEarningsAccumulatedLosses2024-05-3110179517ns5:RetainedEarningsAccumulatedLosses2023-05-3110179517ns5:FurnitureFittings2023-06-012024-05-3110179517ns5:FurnitureFittings2023-05-3110179517ns5:FurnitureFittings2024-05-3110179517ns5:FurnitureFittings2023-05-3110179517ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-05-3110179517ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-05-3110179517ns5:Non-currentFinancialInstruments2023-06-012024-05-3110179517ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-05-3110179517ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3110179517ns10:OrdinaryShareClass12024-05-3110179517ns5:RetainedEarningsAccumulatedLosses2023-05-3110179517ns5:RetainedEarningsAccumulatedLosses2023-06-012024-05-31
REGISTERED NUMBER: 10179517 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

CIFILE LTD

CIFILE LTD (REGISTERED NUMBER: 10179517)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CIFILE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: J Low





REGISTERED OFFICE: 7 Craven Walk
London
N16 6BS





REGISTERED NUMBER: 10179517 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

CIFILE LTD (REGISTERED NUMBER: 10179517)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 733 862
Investment property 5 490,452 488,948
491,185 489,810

CURRENT ASSETS
Debtors 6 72,542 10,000
Cash at bank 37,513 45,944
110,055 55,944
CREDITORS
Amounts falling due within one year 7 (197,290 ) (130,774 )
NET CURRENT LIABILITIES (87,235 ) (74,830 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

403,950

414,980

CREDITORS
Amounts falling due after more than one
year

8

(367,492

)

(370,704

)
NET ASSETS 36,458 44,276

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 36,456 44,274
SHAREHOLDERS' FUNDS 36,458 44,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CIFILE LTD (REGISTERED NUMBER: 10179517)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 director and authorised for issue on 4 February 2025 and were signed by:





J Low - Director


CIFILE LTD (REGISTERED NUMBER: 10179517)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Cifile 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.

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 - 15% on reducing balance

Investment property
Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:
a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

CIFILE LTD (REGISTERED NUMBER: 10179517)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2023
and 31 May 2024 2,286
DEPRECIATION
At 1 June 2023 1,424
Charge for year 129
At 31 May 2024 1,553
NET BOOK VALUE
At 31 May 2024 733
At 31 May 2023 862

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 488,948
Additions 1,504
At 31 May 2024 490,452
NET BOOK VALUE
At 31 May 2024 490,452
At 31 May 2023 488,948

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 72,542 10,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Tax - 1,567
Other creditors 196,480 128,427
Accrued expenses 810 780
197,290 130,774

CIFILE LTD (REGISTERED NUMBER: 10179517)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans (see note 9) 367,492 370,704

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 358,907 358,907

Included within creditors due after more than one year is the amount of £8,585 (2023: £11,797) due under the Bounce Back Loan Scheme (BBLS). The loan is unsecured, guaranteed by the government, and attracts an interest rate of 2.5% after the interest-free period in the first year.

9. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 8,585 11,797

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 358,907 358,907

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary £1 2 2

11. RESERVES
Retained
earnings
£   

At 1 June 2023 44,274
Deficit for the year (7,818 )
At 31 May 2024 36,456