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Registration number: 03659547

City B Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

City B Group Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

City B Group Limited

(Registration number: 03659547)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

180,976

183,098

Current assets

 

Stocks

86,051

74,043

Debtors

5

71,583

74,690

Cash at bank and in hand

 

373,259

318,713

 

530,893

467,446

Creditors: Amounts falling due within one year

6

(110,247)

(92,747)

Net current assets

 

420,646

374,699

Total assets less current liabilities

 

601,622

557,797

Creditors: Amounts falling due after more than one year

6

(38,600)

(20,000)

Provisions for liabilities

(18,903)

(22,610)

Net assets

 

544,119

515,187

Capital and reserves

 

Called up share capital

2

2

Revaluation reserve

77,760

96,390

Retained earnings

466,357

418,795

Shareholders' funds

 

544,119

515,187

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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

City B Group Limited

(Registration number: 03659547)
Balance Sheet as at 31 October 2024

Approved and authorised by the director on 16 April 2025
 

.........................................
Mr P Howells
Director

 

City B Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 9 Stoke Business Park
Woodhouse Steet
Stoke-on-Trent
ST4 1EZ

These financial statements were authorised for issue by the director on 16 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

City B Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Specific asset categories have been remeasured to fair value and have therefore used the revaluation model.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Assets held for hire

15% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
 

 

City B Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Recognition and measurement
A financial asset or financial liability is recognised only when the company 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 or either assessed individually or grouped on the basis or similar credit risk characteristics.


 

 

City B Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 9).

 

City B Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Assets held for hire
£

Total
£

Cost or valuation

At 1 November 2023

139,278

177,213

119,000

435,491

Revaluations

-

-

(23,000)

(23,000)

Additions

-

54,485

-

54,485

Disposals

-

(51,975)

-

(51,975)

At 31 October 2024

139,278

179,723

96,000

415,001

Depreciation

At 1 November 2023

135,056

117,337

-

252,393

Charge for the year

1,056

10,623

-

11,679

Eliminated on disposal

-

(30,047)

-

(30,047)

At 31 October 2024

136,112

97,913

-

234,025

Carrying amount

At 31 October 2024

3,166

81,810

96,000

180,976

At 31 October 2023

4,222

59,876

119,000

183,098

5

Debtors

Current

2024
£

2023
£

Trade debtors

71,583

74,690

 

71,583

74,690

6

Creditors

Creditors: amounts falling due within one year

 

City B Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

24,300

15,825

Trade creditors

 

42,119

50,064

Taxation and social security

 

42,028

25,058

Accruals and deferred income

 

1,800

1,800

 

110,247

92,747

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £14,300 (2023 - £5,825).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

38,600

20,000

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £28,600 (2023 - £NIL).

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Retained earnings
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(23,000)

-

(23,000)

Surplus/deficit on revaluation of other assets

4,370

-

4,370

Remeasurement gain/loss on defined benefit pension schemes

-

(4,370)

(4,370)

(18,630)

(4,370)

(23,000)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

96,390

96,390

 

City B Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Related party transactions

All transactions undertaken with related parties were under normal market conditions and/or not material.

 

City B Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

9

Non adjusting events after the financial period

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