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Registration number: 02198734

City Distribution Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 April 2024

City Distribution Limited

Contents

Company Information | 1
Accountants' Report | 2
Balance Sheet | 3 to 4
Notes to the Unaudited Financial Statements | 5 to 13

City Distribution Limited

Company Information

Directors | Mr MA Errington Mr K Smith

Company secretary | Mr MA Errington

Registered office | Dugdales Close Whitehills Business Park Blackpool Lancashire FY4 5PZ

Accountants | Crossley & Davis Chartered Accountants Ground Floor, Seneca House Links Point, Amy Johnson Way Blackpool Lancashire FY4 2FF

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
City Distribution Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of City Distribution Limited for the year ended 30 April 2024 as set out on pages 3 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of City Distribution Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of City Distribution Limited and state those matters that we have agreed to state to the Board of Directors of City Distribution Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than City Distribution Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that City Distribution Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of City Distribution Limited. You consider that City Distribution Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of City Distribution Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................
Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

18 June 2025

City Distribution Limited

(Registration number: 02198734)
Balance Sheet as at 30 April 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 6 | 447,320 | 389,330
Current assets |  |  |
Stocks | 7 | 628,495 | 748,370
Debtors | 8 | 593,119 | 808,293
Cash at bank and in hand |  | 95,933 | 61,135
|  | 1,317,547 | 1,617,798
Creditors: Amounts falling due within one year | 9 | (534,472) | (650,154)
Net current assets |  | 783,075 | 967,644
Total assets less current liabilities |  | 1,230,395 | 1,356,974
Creditors: Amounts falling due after more than one year | 9 | (70,623) | -
Provisions for liabilities |  | (49,791) | (39,251)
Net assets |  | 1,109,981 | 1,317,723
Capital and reserves |  |  |
Called up share capital | 10 | 150 | 150
Retained earnings |  | 1,109,831 | 1,317,573
Shareholders' funds |  | 1,109,981 | 1,317,723

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 June 2025 and signed on its behalf by:

City Distribution Limited

(Registration number: 02198734)
Balance Sheet as at 30 April 2024

......................................... Mr K Smith Director

City Distribution Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1 | General information

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

The address of its registered office is:
Dugdales Close
Whitehills Business Park
Blackpool
Lancashire
FY4 5PZ

These financial statements were authorised for issue by the Board on 18 June 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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.

Tax

The tax expense for the period comprises 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.

City Distribution Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

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
Leasehold property | 5% straight line
Plant and machinery | 15% reducing balance
Fixtures and fittings | 15% reducing balance
Motor vehicles | 25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

City Distribution Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

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.

City Distribution Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2023 - 28).

City Distribution Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4 | Loss/profit before tax

Arrived at after charging/(crediting)

| 2024 £ | 2023 £
Depreciation expense | 93,674 | 71,427

5 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 May 2023 | 7,500 | 7,500
At 30 April 2024 | 7,500 | 7,500
Amortisation
At 1 May 2023 | 7,500 | 7,500
At 30 April 2024 | 7,500 | 7,500
Carrying amount
At 30 April 2024 | - | -

City Distribution Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Other property, plant and equipment £ | Total £
Cost or valuation
At 1 May 2023 | 488,992 | 121,727 | 143,242 | 164,830 | 918,791
Additions | - | 9,258 | 140,103 | 2,302 | 151,663
At 30 April 2024 | 488,992 | 130,985 | 283,345 | 167,132 | 1,070,454
Depreciation
At 1 May 2023 | 291,396 | 81,269 | 51,438 | 105,358 | 529,461
Charge for the year | 24,449 | 6,879 | 53,194 | 9,151 | 93,673
At 30 April 2024 | 315,845 | 88,148 | 104,632 | 114,509 | 623,134
Carrying amount
At 30 April 2024 | 173,147 | 42,837 | 178,713 | 52,623 | 447,320
At 30 April 2023 | 197,596 | 40,458 | 91,804 | 59,472 | 389,330

Included within the net book value of land and buildings above is £173,147 (2023 - £197,596) in respect of long leasehold land and buildings.

City Distribution Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7 | Stocks

| 2024 £ | 2023 £
Other inventories | 628,495 | 748,370

8 | Debtors

Current | Note | 2024 £ | 2023 £
Trade debtors |  | 304,776 | 509,553
Amounts owed by related parties | 12 | 175,455 | 175,455
Prepayments |  | 45,655 | 39,107
Other debtors |  | 67,233 | 84,178
|  | 593,119 | 808,293

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 11 | 13,192 | -
Trade creditors |  | 355,119 | 452,768
Taxation and social security |  | 139,486 | 110,294
Accruals and deferred income |  | 16,340 | 63,077
Other creditors |  | 10,335 | 24,015
|  | 534,472 | 650,154

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £13,192 (2023 - £nil).

Creditors: amounts falling due after more than one year

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings | 11 | 70,623 | -

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £70,623 (2023 - £nil).

10 | Share capital

Allotted, called up and fully paid shares

City Distribution Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £1 each | 150 | 150 | 150 | 150

11 | Loans and borrowings

Non-current loans and borrowings

| 2024 £ | 2023 £
Hire purchase contracts | 70,623 | -

Current loans and borrowings

| 2024 £ | 2023 £
Hire purchase contracts | 13,192 | -

City Distribution Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

12 | Related party transactions

Loans to related parties

2024 | Key management £ | Total £
At start of period | 84,178 | 84,178
Advanced | 55,500 | 55,500
Repaid | (84,178) | (84,178)
At end of period | 55,500 | 55,500

2023 | Key management £ | Total £
At start of period | 121,812 | 121,812
Advanced | 84,178 | 84,178
Repaid | (121,812) | (121,812)
At end of period | 84,178 | 84,178

Terms of loans to related parties

Loans to directors are unsecured, repayable on demand, and interest is charged at the official rate on any balance that exceeds £10,000 throughout the year.