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REGISTERED NUMBER: SC737877 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 31 MARCH 2023 TO 29 MARCH 2024

FOR

CITO CIMO COMMERCIAL LTD

CITO CIMO COMMERCIAL LTD (REGISTERED NUMBER: SC737877)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 MARCH 2023 TO 29 MARCH 2024










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 6


CITO CIMO COMMERCIAL LTD (REGISTERED NUMBER: SC737877)

STATEMENT OF FINANCIAL POSITION
29 MARCH 2024

29.3.24 30.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 79,824 -
Investment property 5 840,617 815,000
920,441 815,000

CURRENT ASSETS
Debtors 6 131,343 69,409
Cash at bank 8 1,623
131,351 71,032
CREDITORS
Amounts falling due within one year 7 (239,931 ) (137,480 )
NET CURRENT LIABILITIES (108,580 ) (66,448 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

811,861

748,552

CREDITORS
Amounts falling due after more than one
year

8

(302,005

)

(302,005

)

PROVISIONS FOR LIABILITIES (28,338 ) (68,516 )
NET ASSETS 481,518 378,031

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 391,324 391,324
Retained earnings 90,094 (13,393 )
481,518 378,031

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

The members have not required the company to obtain an audit of its financial statements for the period ended 29 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CITO CIMO COMMERCIAL LTD (REGISTERED NUMBER: SC737877)

STATEMENT OF FINANCIAL POSITION - continued
29 MARCH 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 Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





M Namavar - Director


CITO CIMO COMMERCIAL LTD (REGISTERED NUMBER: SC737877)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 31 MARCH 2023 TO 29 MARCH 2024


1. STATUTORY INFORMATION

Cito Cimo Commercial Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC737877

Registered office: 166 Great Western Road
Aberdeen
Aberdeenshire
AB10 6QE

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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reports. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See tangible assets note for the carrying amount of the assets and the accounting policy for the useful economic lives for each class of assets.

Valuation of investment property

As described in the notes to the financial statements, the investment properties are stated in the balance sheet at fair value, based on the valuation performed by the director. The director is of the opinion that the year-end valuation is not materially different to current market prices observed.

Investment properties have been recognised at fair value by the director and they are of the opinion that there has been no material change since 31/03/2024.

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

CITO CIMO COMMERCIAL LTD (REGISTERED NUMBER: SC737877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 MARCH 2023 TO 29 MARCH 2024


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

TAXATION
Taxation for the period 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

CITO CIMO COMMERCIAL LTD (REGISTERED NUMBER: SC737877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 MARCH 2023 TO 29 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 93,911
At 29 March 2024 93,911
DEPRECIATION
Charge for period 14,087
At 29 March 2024 14,087
NET BOOK VALUE
At 29 March 2024 79,824

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2023 815,000
Additions 25,617
At 29 March 2024 840,617
NET BOOK VALUE
At 29 March 2024 840,617
At 30 March 2023 815,000

The directors consider the investment properties to be stated at fair value as at 31 March 2024.
In respect of tangible assets held at valuation, the aggregate cost, depreciation and carrying amount that would have been recognised if the assets had been carried under the historical cost model are: Aggregate cost £380,777 (2023: £355,160), Aggregate depreciation £nil (2023: £nil) and carrying value £380,777 (2023: £355,160).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.3.24 30.3.23
£    £   
Amounts owed by group undertakings 49,044 69,001
Other debtors 82,299 408
131,343 69,409

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.3.24 30.3.23
£    £   
Bank loans and overdrafts 80,000 -
Amounts owed to group undertakings 12,689 -
Other creditors 147,242 137,480
239,931 137,480

CITO CIMO COMMERCIAL LTD (REGISTERED NUMBER: SC737877)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 31 MARCH 2023 TO 29 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.3.24 30.3.23
£    £   
Bank loans 302,005 302,005

9. RELATED PARTY DISCLOSURES

Transaction with directors are under normal market condition and/or not material.

10. POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statements by the board.