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REGISTERED NUMBER: 07295763 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

CITY GROUND RENT LIMITED

CITY GROUND RENT LIMITED (REGISTERED NUMBER: 07295763)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


CITY GROUND RENT LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTOR: Mr I Moskovitz





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 07295763 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

CITY GROUND RENT LIMITED (REGISTERED NUMBER: 07295763)

ABRIDGED BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,000,000 3,000,000

CURRENT ASSETS
Debtors 5,960 9,791
Cash at bank 3,729 2,684
9,689 12,475
CREDITORS
Amounts falling due within one year 611,222 591,062
NET CURRENT LIABILITIES (601,533 ) (578,587 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,398,467

2,421,413

CREDITORS
Amounts falling due after more than one year (621,846 ) (666,000 )

PROVISIONS FOR LIABILITIES (350,500 ) (350,500 )
NET ASSETS 1,426,121 1,404,913

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 1,228,635 1,228,635
Retained earnings 197,484 176,276
SHAREHOLDERS' FUNDS 1,426,121 1,404,913

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

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

CITY GROUND RENT LIMITED (REGISTERED NUMBER: 07295763)

ABRIDGED BALANCE SHEET - continued
30 June 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 March 2025 and were signed by:





Mr I Moskovitz - Director


CITY GROUND RENT LIMITED (REGISTERED NUMBER: 07295763)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024

1. STATUTORY INFORMATION

City Ground Rent 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 as modified by the revaluation of certain assets.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the director.

Turnover
Turnover comprises rental and service charge income, excluding value added tax, which is recognised in the period which it is earned.

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 3,000,000
NET BOOK VALUE
At 30 June 2024 3,000,000
At 30 June 2023 3,000,000

CITY GROUND RENT LIMITED (REGISTERED NUMBER: 07295763)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

4. INVESTMENT PROPERTY - continued

Investment property was valued on an open market basis on 30 June 2024 by the director.

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 669,988 682,000

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

6. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £80,807 (2023 - £80,807) to Mr I Moskovitz, the director.