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Company No: 13667990 (England and Wales)

CITRUS (DONCASTER) LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

CITRUS (DONCASTER) LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

CITRUS (DONCASTER) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2024
CITRUS (DONCASTER) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2024
Note 2024 2023
£ £
Current assets
Stocks 3 152,774 1,291,865
Debtors 4 8,458 48,025
Cash at bank and in hand 568,546 3,243
729,778 1,343,133
Creditors: amounts falling due within one year 5 ( 527,331) ( 685,641)
Net current assets 202,447 657,492
Total assets less current liabilities 202,447 657,492
Creditors: amounts falling due after more than one year 6 0 ( 646,845)
Net assets 202,447 10,647
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 202,347 10,547
Total shareholders' funds 202,447 10,647

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Citrus (Doncaster) Limited (registered number: 13667990) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

A D Curtis
Director

06 February 2025

CITRUS (DONCASTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
CITRUS (DONCASTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Citrus (Doncaster) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Langley House, Park Road, London, N2 8EY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 2 2

3. Stocks

2024 2023
£ £
Stocks 152,774 1,291,865

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

4. Debtors

2024 2023
£ £
Trade debtors 0 19,528
Other debtors 8,458 28,497
8,458 48,025

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 94,540 129,246
Taxation and social security 63,949 2,500
Other creditors 368,842 553,895
527,331 685,641

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Amounts owed to related parties 0 305,000
Other creditors 0 341,845
0 646,845

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100