REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
CITIGARDEN LIVING LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
CITIGARDEN LIVING LIMITED |
CITIGARDEN LIVING LIMITED (REGISTERED NUMBER: 11260591) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CITIGARDEN LIVING LIMITED |
COMPANY INFORMATION |
For The Year Ended 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
3 Park Square East |
Leeds |
LS1 2NE |
CITIGARDEN LIVING LIMITED (REGISTERED NUMBER: 11260591) |
BALANCE SHEET |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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. |
CITIGARDEN LIVING LIMITED (REGISTERED NUMBER: 11260591) |
BALANCE SHEET - continued |
30 June 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
CITIGARDEN LIVING LIMITED (REGISTERED NUMBER: 11260591) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Citigarden Living Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Assets under course of construction are not depreciated until such time as the construction of the asset is complete. |
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. |
Deferred 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
CITIGARDEN LIVING LIMITED (REGISTERED NUMBER: 11260591) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 June 2023 |
4. | TANGIBLE FIXED ASSETS |
Long |
leasehold |
£ |
COST |
At 1 July 2022 |
Additions |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Additions to long leasehold property during the year were in relation to a fixed asset under the course of construction. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amount due from related undertaking |
Social security and other tax | - | 62,126 |
Sundry debtors and prepayments | 20,014 | 22,049 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
Social security and other taxes |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amount due to related undertakings | 868,587 | 1,060,967 |
Directors' loan accounts | 518,708 | 466,505 |
Included within the bank loan creditor is £44,097 (£2022: £50,000) which relates to a HM Government Coronavirus Business Bounce Back Loan. The loan carries an interest rate of 2.25% per annum and it is repayable in accordance with the rules of the scheme. |
CITIGARDEN LIVING LIMITED (REGISTERED NUMBER: 11260591) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 30 June 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank Loan | 2,300,000 | 2,300,000 |
The bank loan is secured against the property of the company by way of debenture. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 99 | 99 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 July 2022 |
Profit for the year |
At 30 June 2023 |
11. | RELATED PARTY DISCLOSURES |
At the 30 June 2023 the company owed Citispace Group Limited £807,467 (2022: £1,060,097) D Serr, J R Kidd and L Plant are directors of Citigarden Living Limited and Citispace Group Limited. |
At the 30 June 2023 the company owed Citispace Services Limited £61,120 (2022: £Nil) D Serr, J R Kidd and L Plant are directors of Citigarden Living Limited and Citispace Services Limited. |
At the 30 June 2023 the company was owed £39,759 (2022: £Nil) by Design Management Contracts Limited D Serr and J R Kidd are directors of Citigarden Living Limited and Design Management Contracts Limited. |
12. | ULTIMATE CONTROL |
The company is under the ultimate control of the directors. |