CITY PROUD LIMITED

Company Registration Number:
14434353 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 21 October 2022

End date: 31 October 2023

CITY PROUD LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes

CITY PROUD LIMITED

Directors' report period ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Principal activities of the company

Directors Report For the year ended 21 10 2023 The directors present their report and the financial statements for the year ended 21 10 2023 Principal Activity The principal activity of the company during the year was the development and operation of a digital platform providing matching services between skilled professionals, including engineers, plumbers, software developers, electricians, and other tradespeople, and property companies across the United Kingdom. Business Review The platform was successfully launched during the year and has rapidly gained traction within the property and construction sectors. It enables property companies to efficiently source qualified and vetted skilled workers for a range of projects, improving access to talent and streamlining the hiring process. During the year, the company successfully secured external funding of £2,000,000 to support platform development, marketing initiatives, and expansion plans. The company currently employs 15 staff members across operations, technology, sales, and support functions. The business is demonstrating strong momentum, achieving monthly recurring revenue (MRR) in excess of £100,000, reflecting robust demand for its services and a scalable business model. In addition, the company has begun developing artificial intelligence (AI) driven tools to enhance the matching process, automate candidate vetting, and provide predictive analytics to property companies seeking skilled workers. Future Developments Looking ahead, the company plans to further expand its network of skilled professionals, enhance platform functionality, and explore strategic partnerships to deepen its presence within the property services industry. Key initiatives include the continued development of AI powered features, such as intelligent matching algorithms, automated skills verification, and real-time project recommendations, aimed at further improving user experience and operational efficiency. Further investment in technology and recruitment is planned to support continued growth. Financial Position The successful fundraising round of £2,000,000 has significantly strengthened the companys financial position, enabling strategic investments into technology, AI development, operations, and market expansion. The company maintains a healthy cash position and is committed to disciplined financial management while pursuing ambitious growth targets. Events After the Reporting Period There have been no significant events after the balance sheet date that require adjustment or disclosure in these financial statements. Statement of Directors Responsibilities The directors acknowledge their responsibility for ensuring the company keeps adequate accounting records and prepares financial statements that give a true and fair view of the companys affairs. The directors are also responsible for safeguarding the assets of the company and taking reasonable steps to prevent fraud and other irregularities. The directors would like to thank our employees, investors, partners, and users for their continued support and contribution to the companys success. Signed by order of the board Olegs Baikovs Chief Exective Officer



Directors

The director shown below has held office during the whole of the period from
21 October 2022 to 31 October 2023

Oleg Baikovs


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 June 2024

And signed on behalf of the board by:
Name: Oleg Baikovs
Status: Director

CITY PROUD LIMITED

Balance sheet

As at 31 October 2023

Notes 2023


£
Fixed assets
Intangible assets: 3 3,400,000
Tangible assets: 4 429,100
Investments: 5 650,000
Total fixed assets: 4,479,100
Current assets
Stocks: 6 49,874
Debtors: 7 355,290
Cash at bank and in hand: 1,298,190
Investments: 8 125,000
Total current assets: 1,828,354
Prepayments and accrued income: 291,949
Creditors: amounts falling due within one year: 9 ( 20,000 )
Net current assets (liabilities): 2,100,303
Total assets less current liabilities: 6,579,403
Creditors: amounts falling due after more than one year: 10 ( 2,000,000 )
Provision for liabilities: ( 1,298,190 )
Accruals and deferred income: ( 3,000 )
Total net assets (liabilities): 3,278,213
Capital and reserves
Called up share capital: 100
Share premium account: 100
Other reserves: 3,483,013
Profit and loss account: (205,000 )
Total Shareholders' funds: 3,278,213

The notes form part of these financial statements

CITY PROUD LIMITED

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 30 June 2024
and signed on behalf of the board by:

Name: Oleg Baikovs
Status: Director

The notes form part of these financial statements

CITY PROUD LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

CITY PROUD LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023
    Average number of employees during the period 29

CITY PROUD LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
Additions 3,400,000 3,400,000
Disposals 0 0
Revaluations 0 0
Transfers 0 0
At 31 October 2023 3,400,000 3,400,000
Amortisation
Charge for year 0 0
On disposals 0 0
Other adjustments 0 0
At 31 October 2023 0 0
Net book value
At 31 October 2023 3,400,000 3,400,000

CITY PROUD LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 251,000 149,000 29,100 0 429,100
Disposals 0 0
Revaluations 0 0
Transfers 0 0
At 31 October 2023 0 251,000 149,000 29,100 0 429,100
Depreciation
Charge for year 0 0
On disposals 0 0
Other adjustments 0 0
At 31 October 2023 0 0
Net book value
At 31 October 2023 0 251,000 149,000 29,100 0 429,100

CITY PROUD LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

5. Fixed assets investments note

650,000 investment in AI research

CITY PROUD LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

6. Stocks

2023
£
Stocks 49,874
Payments on account 0
Total 49,874

CITY PROUD LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

7. Debtors

2023
£
Trade debtors 355,290
Prepayments and accrued income 0
Other debtors 0
Total 355,290
Debtors due after more than one year: 0

CITY PROUD LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

8. Current assets investments note

Patents and IP

CITY PROUD LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

9. Creditors: amounts falling due within one year note

2023
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Taxation and social security 17,000
Accruals and deferred income 3,000
Other creditors 0
Total 20,000

CITY PROUD LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2023

10. Creditors: amounts falling due after more than one year note

2023
£
Other creditors 2,000,000
Total 2,000,000