Caseware UK (AP4) 2024.0.164 2024.0.164 2023-12-312023-12-31The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.12023-01-01falsemortgage broker1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03505850 2023-01-01 2023-12-31 03505850 2022-01-01 2022-12-31 03505850 2023-12-31 03505850 2022-12-31 03505850 c:Director1 2023-01-01 2023-12-31 03505850 d:FurnitureFittings 2023-01-01 2023-12-31 03505850 d:LeaseholdInvestmentProperty 2023-01-01 2023-12-31 03505850 d:LeaseholdInvestmentProperty 2023-12-31 03505850 d:LeaseholdInvestmentProperty 2022-12-31 03505850 d:CurrentFinancialInstruments 2023-12-31 03505850 d:CurrentFinancialInstruments 2022-12-31 03505850 d:Non-currentFinancialInstruments 2023-12-31 03505850 d:Non-currentFinancialInstruments 2022-12-31 03505850 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03505850 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03505850 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03505850 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03505850 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 03505850 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 03505850 d:ShareCapital 2023-12-31 03505850 d:ShareCapital 2022-12-31 03505850 d:OtherMiscellaneousReserve 2023-12-31 03505850 d:OtherMiscellaneousReserve 2022-12-31 03505850 d:RetainedEarningsAccumulatedLosses 2023-12-31 03505850 d:RetainedEarningsAccumulatedLosses 2022-12-31 03505850 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 03505850 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 03505850 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 03505850 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 03505850 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03505850 c:OrdinaryShareClass1 2023-12-31 03505850 c:FRS102 2023-01-01 2023-12-31 03505850 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03505850 c:FullAccounts 2023-01-01 2023-12-31 03505850 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03505850 2 2023-01-01 2023-12-31 03505850 6 2023-01-01 2023-12-31 03505850 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 03505850














CORPORATE CITY DEVELOPMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
CORPORATE CITY DEVELOPMENTS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
CORPORATE CITY DEVELOPMENTS LIMITED
REGISTERED NUMBER:03505850

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
  
6,523
-

Investments
 4 
1
1

Investment property
 5 
1,421,610
1,206,000

  
1,428,134
1,206,001

Current assets
  

Debtors: amounts falling due within one year
 6 
4,266,288
4,684,989

Cash at bank and in hand
  
131,457
6,344

  
4,397,745
4,691,333

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(4,245,652)
(3,323,154)

Net current assets
  
 
 
152,093
 
 
1,368,179

Total assets less current liabilities
  
1,580,227
2,574,180

Creditors: amounts falling due after more than one year
 8 
(822,911)
(822,905)

Provisions for liabilities
  

Deferred tax
 10 
(113,569)
(169,385)

  
 
 
(113,569)
 
 
(169,385)

Net assets
  
643,747
1,581,890


Capital and reserves
  

Called up share capital 
 11 
1
1

Other reserves
  
649,912
649,912

Profit and loss account
  
(6,166)
931,977

  
643,747
1,581,890


Page 1

 
CORPORATE CITY DEVELOPMENTS LIMITED
REGISTERED NUMBER:03505850
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 March 2025.




P R Munford
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CORPORATE CITY DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Corporate City Developments Limited is a limited liability company registered in England and Wales. Its
registered office address is at 2nd Floor Connaught House, 1-3 Mount St, London, W1K 3NB.
The principal activity of the company during the year was that of property investment.
The company's functional and presentational currency is £ sterling

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

  
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised
Turnover comprises of rent receivable during the year. Rental income is recognised in the period the properties are occupied under rental agreements.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method.

Page 3

 
CORPORATE CITY DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
 
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss

Page 4

 
CORPORATE CITY DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Basic financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and
other debtors, trade and other creditors, cash at bank and in hand, and loans with related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction
price less attributable transaction costs. Trade creditors, other creditors and loans from related
parties are recognised initially at transaction price plus attributable transaction costs. Subsequently
they are measured at amortised cost using the effective interest method, less any impairment losses
in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised
initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1



At 31 December 2023
1




Page 5

 
CORPORATE CITY DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Investment property


Leasehold investment property

£



Valuation


At 1 January 2023
1,206,000


Additions at cost
215,610



At 31 December 2023
1,421,610

The 2023 valuations were made by the director, on an open market value for existing use basis.







6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
-
689,138

Other debtors
4,266,288
3,995,851

4,266,288
4,684,989


Other debtors includes a balance of £3,740,381 (2022 - £3,556,069) due from a director of the company.


7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
144
-

Taxation and social security
110,062
7,733

Other creditors
4,126,968
3,307,321

Accruals and deferred income
8,478
8,100

4,245,652
3,323,154


Page 6

 
CORPORATE CITY DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
816,647
816,641

Other creditors
6,264
6,264

822,911
822,905


The bank loan is secured by way of a fixed and floating charge over the assets of the company.


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£



Amounts falling due 2-5 years

Bank loans
816,647
816,641



The bank loan is secured by way of a fixed and floating charge over the assets of the company.

Page 7

 
CORPORATE CITY DEVELOPMENTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




2023


£






At beginning of year
(169,385)


Charged to profit or loss
55,816



At end of year
(113,569)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


On property revaluations
216,638
252,930

Tax losses carried forward
(103,069)
(83,545)

113,569
169,385


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 Ordinary share of £1.00
1
1


 
Page 8