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REGISTERED NUMBER: 00525529 (England and Wales)












REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

DEMOS CICLITIRA LIMITED

DEMOS CICLITIRA LIMITED (REGISTERED NUMBER: 00525529)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


DEMOS CICLITIRA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: J D N Ciclitira
Mrs R E King



REGISTERED OFFICE: Capitol House
60-62 Leman Street
London
E1 8EU



REGISTERED NUMBER: 00525529 (England and Wales)



ACCOUNTANTS: Affinia (Halstead)
The Maltings
Rosemary Lane
Halstead
Essex
CO9 1HZ



BANKERS: HSBC
1-3 Bishopsgate
London
EC2N 3AQ

DEMOS CICLITIRA LIMITED (REGISTERED NUMBER: 00525529)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024

The directors present their report with the financial statements of the company for the year ended 31 August 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

J D N Ciclitira
Mrs R E King

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs R E King - Director


28 May 2025

DEMOS CICLITIRA LIMITED (REGISTERED NUMBER: 00525529)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,561,162 5,454,144
Investments 5 1,000 1,000
2,562,162 5,455,144

CURRENT ASSETS
Stocks 6 925,818 1,040,371
Debtors 7 2,225,073 1,971,684
Cash at bank 239,612 508,474
3,390,503 3,520,529
CREDITORS
Amounts falling due within one year 8 891,781 1,416,176
NET CURRENT ASSETS 2,498,722 2,104,353
TOTAL ASSETS LESS CURRENT LIABILITIES 5,060,884 7,559,497

CREDITORS
Amounts falling due after more than one
year

9

(93,634

)

(31,815

)

PROVISIONS FOR LIABILITIES (307,644 ) (380,264 )
NET ASSETS 4,659,606 7,147,418

CAPITAL AND RESERVES
Called up share capital 10 300,000 300,000
Share premium 11 619 619
Revaluation reserve 11 1,539,335 3,626,674
Retained earnings 11 2,819,652 3,220,125
SHAREHOLDERS' FUNDS 4,659,606 7,147,418

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

DEMOS CICLITIRA LIMITED (REGISTERED NUMBER: 00525529)

BALANCE SHEET - continued
31 AUGUST 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 May 2025 and were signed on its behalf by:





Mrs R E King - Director


DEMOS CICLITIRA LIMITED (REGISTERED NUMBER: 00525529)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Demos Ciclitira 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 financial statements are presented in sterling which is the functional currency of the company.

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

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.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% - 20% straight line
Fixtures and fittings - Straight line over 10 years
Computer equipment - Straight line over 5 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiaries are stated at cost less accumulated impairment losses in the Company's balance sheet. On disposal of investments in subsidiaries the difference between net disposal proceeds and the carrying amount of the investment is taken to the income statement.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


DEMOS CICLITIRA LIMITED (REGISTERED NUMBER: 00525529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year 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 balance sheet date.

Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date with the following exception. It is the company policy to enter into forward contracts to fix the exchange rate for transactions relating to an agreed sale. This ensures that exchange rate risk is minimised. Assets and liabilities in foreign currencies that relate to agreed sales have been translated at the exchange rate specified in the appropriate forward contract.

Transactions in foreign currencies that have been subject to a forward contract are converted to sterling at the rate specified whilst all other transactions are converted at the rate of exchange ruling at the date of the transaction.

Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

DEMOS CICLITIRA LIMITED (REGISTERED NUMBER: 00525529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 September 2023 5,230,000 267,384 636,521 165,356 6,299,261
Additions - 6,784 740 - 7,524
Disposals (2,780,000 ) - (589,276 ) (105,761 ) (3,475,037 )
At 31 August 2024 2,450,000 274,168 47,985 59,595 2,831,748
DEPRECIATION
At 1 September 2023 49,111 133,967 524,313 137,726 845,117
Charge for year 38,457 27,302 8,368 8,165 82,292
Eliminated on disposal (40,488 ) - (510,645 ) (105,690 ) (656,823 )
At 31 August 2024 47,080 161,269 22,036 40,201 270,586
NET BOOK VALUE
At 31 August 2024 2,402,920 112,899 25,949 19,394 2,561,162
At 31 August 2023 5,180,889 133,417 112,208 27,630 5,454,144

Included in cost or valuation of land and buildings is freehold land of £ 1,014,885 (2023 - £ 1,833,591 ) which is not depreciated.

Cost or valuation at 31 August 2024 is represented by:

Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
Valuation in 2008 571,677 - - - 571,677
Valuation in 2013 365,000 - - - 365,000
Valuation in 2017 2,126,200 - - - 2,126,200
Valuation in 2022 242,820 - - - 242,820
Valuation in 2024 (1,971,677 ) - - - (1,971,677 )
Cost 1,115,980 274,168 47,985 59,595 1,497,728
2,450,000 274,168 47,985 59,595 2,831,748

DEMOS CICLITIRA LIMITED (REGISTERED NUMBER: 00525529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS - continued

If land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,115,980 1,924,303

Freehold land and buildings were valued on an open market basis on 21 October 2022 by Kemsley LLP Property Consultants .

5. FIXED ASSET INVESTMENTS
Share in
subsidiary
£   
COST
At 1 September 2023
and 31 August 2024 1,000
NET BOOK VALUE
At 31 August 2024 1,000
At 31 August 2023 1,000

6. STOCKS
2024 2023
£    £   
Raw materials 925,818 1,040,371

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 1,009,485 1,087,410
Amounts owed by group undertakings 1,161,598 282,209
Other debtors 53,990 105,351
2,225,073 1,474,970

Amounts falling due after more than one year:
Other debtors - 496,714

Aggregate amounts 2,225,073 1,971,684

The amount of trade debt outstanding at the year end which is subject to factoring services amounts to £924,816 (2023: £1,031,752).

DEMOS CICLITIRA LIMITED (REGISTERED NUMBER: 00525529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 317,125 350,033
Trade creditors 417,359 580,646
Taxation and social security 5,211 9,312
Other creditors 152,086 476,185
891,781 1,416,176

The bank loan and overdraft are secured by a fixed and floating charge over both the present and future book debts of the company and a fixed charge over its freehold property.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 93,634 31,815

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30,000 'A' (Non-voting) £1 30,000 30,000
270,000 Ordinary £1 270,000 270,000
300,000 300,000

11. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 September 2023 3,220,125 619 3,626,674 6,847,418
Deficit for the year (2,487,812 ) (2,487,812 )
Transfer between revaluation
reserve and P&L account 2,087,339 - (2,087,339 ) -
At 31 August 2024 2,819,652 619 1,539,335 4,359,606

DEMOS CICLITIRA LIMITED (REGISTERED NUMBER: 00525529)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

12. RELATED PARTY DISCLOSURES

George Harker (UK) Limited
A company in which J D N Ciclitira is a director and Chairman of the Board.

The company made purchases from George Harker (UK) Limited during the year totalling £422,607 (2023: £363,986) and made sales during the year totalling £11,489 (2023: £10,169). The amount outstanding from George Harker (UK) Limited to the company at the balance sheet date is £589,501 (2023: £282,209 and this is included within Amounts owed by group undertakings. There are no fixed terms of repayment.


Medos (UK) Limited
A company related by virtue of J D N Cicilitiria and estate of A G Ciclitira's shareholding

At the year end, Medos (UK) limited owed the company an amount of £572,097 (2023: £496,714) in respect of an interest free loan. This is included within Amounts owed by group undertakings. There are no fixed terms for repayment.


J D N Ciclitiria and estate of A G Ciclitiria
Director and Chairman of the Board of Demos Ciclitira Limited

At the year end, the director of the company, Mr J D N Ciclitira along with the estate of A G Ciclitiria was owed £10,784 (2023: £405,558) which is included in other creditors.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J D N Ciclitira.