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REGISTERED NUMBER: 03852999 (England and Wales)















Cit-Ren Limited

Unaudited Financial Statements

for the year ended

29 February 2024






Cit-Ren Limited (Registered number: 03852999)

Contents of the Financial Statements
for the year ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


Cit-Ren Limited

Company Information
for the year ended 29 February 2024







DIRECTOR: G Hindle





SECRETARY: Mrs E Olley





REGISTERED OFFICE: Howe Pit
Norwich Road
Brooke
Norwich
NR15 1HJ





REGISTERED NUMBER: 03852999 (England and Wales)





ACCOUNTANTS: TC Group
Accountants
Yare House
62-64 Thorpe Road
Norwich
Norfolk
NR1 1RY

Cit-Ren Limited (Registered number: 03852999)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 172,824 161,430

CURRENT ASSETS
Stocks 16,500 15,750
Debtors 5 11,756 15,099
Cash at bank and in hand 559,193 716,598
587,449 747,447
CREDITORS
Amounts falling due within one year 6 (87,324 ) (150,355 )
NET CURRENT ASSETS 500,125 597,092
TOTAL ASSETS LESS CURRENT LIABILITIES 672,949 758,522

CREDITORS
Amounts falling due after more than one year 7 (47,006 ) (170,640 )

PROVISIONS FOR LIABILITIES (2,767 ) (602 )
NET ASSETS 623,176 587,280

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 623,174 587,278
SHAREHOLDERS' FUNDS 623,176 587,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 19 February 2025 and were signed by:





G Hindle - Director


Cit-Ren Limited (Registered number: 03852999)

Notes to the Financial Statements
for the year ended 29 February 2024


1. STATUTORY INFORMATION

Cit-Ren Limited 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.
Freehold property - Not depreciated
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

Cit-Ren Limited (Registered number: 03852999)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 March 2023 158,259 31,234 19,360 208,853
Additions - 13,577 - 13,577
At 29 February 2024 158,259 44,811 19,360 222,430
DEPRECIATION
At 1 March 2023 - 28,462 18,961 47,423
Charge for year - 2,103 80 2,183
At 29 February 2024 - 30,565 19,041 49,606
NET BOOK VALUE
At 29 February 2024 158,259 14,246 319 172,824
At 28 February 2023 158,259 2,772 399 161,430

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,132 10,017
Other debtors 4,624 5,082
11,756 15,099

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 15,965 14,759
Trade creditors - 285
Taxation and social security 51,155 58,171
Other creditors 20,204 77,140
87,324 150,355

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 47,006 60,460
Other creditors - 110,180
47,006 170,640

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the director £16,551 (2023: £184,239) by way of an interest free loan with no fixed repayment terms.