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COMPANY REGISTRATION NUMBER: 15719630
CITU (DISTRICT LOFTS) LTD
FILLETED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 December 2024
CITU (DISTRICT LOFTS) LTD
STATEMENT OF FINANCIAL POSITION
31 December 2024
31 Dec 24
Note
£
£
CURRENT ASSETS
Stocks
16,571,436
Debtors
4
5,904,162
Cash at bank and in hand
1,039,662
-------------
23,515,260
CREDITORS: amounts falling due within one year
5
( 11,296,671)
-------------
NET CURRENT ASSETS
12,218,589
-------------
TOTAL ASSETS LESS CURRENT LIABILITIES
12,218,589
CREDITORS: amounts falling due after more than one year
6
( 12,224,299)
-------------
NET LIABILITIES
( 5,710)
-------------
CAPITAL AND RESERVES
Called up share capital
1
Profit and loss account
( 5,711)
-------
SHAREHOLDERS DEFICIT
( 5,710)
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 4 July 2025 , and are signed on behalf of the board by:
C A Thompson
Director
Company registration number: 15719630
CITU (DISTRICT LOFTS) LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 14 MAY 2024 TO 31 DECEMBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Central Place, Leeds, LS10 1FB, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Stocks
Stocks are measured 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 the stock to its present location and condition.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. 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 profit and loss account before operating profit.
4. DEBTORS
31 Dec 24
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
5,903,496
Other debtors
666
------------
5,904,162
------------
5. CREDITORS: amounts falling due within one year
31 Dec 24
£
Trade creditors
6,777,361
Amounts owed to group undertakings and undertakings in which the company has a participating interest
3,833,000
Other creditors
686,310
-------------
11,296,671
-------------
6. CREDITORS: amounts falling due after more than one year
31 Dec 24
£
Bank loans and overdrafts
12,224,299
-------------
7. SUMMARY AUDIT OPINION
The auditor's report dated 4 July 2025 was unqualified .
The senior statutory auditor was JEFFREY WINE , for and on behalf of Wine & Co .