| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| CITYBRANCH HEALTHCARE LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| CITYBRANCH HEALTHCARE LIMITED |
| CITYBRANCH HEALTHCARE LIMITED (REGISTERED NUMBER: 09319897) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| CITYBRANCH HEALTHCARE LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 3rd Floor |
| St George's House |
| 56 Peter Street |
| Manchester |
| M2 3NQ |
| CITYBRANCH HEALTHCARE LIMITED (REGISTERED NUMBER: 09319897) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| ( |
) |
| The director acknowledges his 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. |
| CITYBRANCH HEALTHCARE LIMITED (REGISTERED NUMBER: 09319897) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2024 |
| The financial statements were approved by the director and authorised for issue on |
| CITYBRANCH HEALTHCARE LIMITED (REGISTERED NUMBER: 09319897) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Citybranch Healthcare Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the |
| Company and the revenue can be reliably measured. Revenue is measured as the fair value of the |
| consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Rendering of services |
| Revenue includes the amounts receivable from the sale of properties and other income directly |
| associated with property development. |
| Properties are treated as sold and profits and revenues are recognised when all performance |
| obligations under the contract have been satisfied, following which control of the development is |
| passed to a customer. |
| Revenue from a contract to provide services is recognised in the period in which the services are |
| provided in accordance with the stage of completion of the contract when all of the following |
| conditions are satisfied: |
| - the amount of revenue can be measured reliably; |
| - it is probable that the Company will receive the consideration due under the contract; |
| - the stage of completion of the contract at the end of the reporting period can be measured |
| reliably; and |
| - the costs incurred and the costs to complete the contract can be measured reliably. |
| Revenue relating to long term contracts, defined as the development of a single asset usually over a period extending beyond one year, is recognised as the service progresses. The extent of service delivery is measured by completeness based upon costs incurred to date as independently certified compared to total anticipated contract cost. |
| 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 - 20% on cost |
| Office Equipment - 25% on cost |
| CITYBRANCH HEALTHCARE LIMITED (REGISTERED NUMBER: 09319897) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Work in progress and long term contracts |
| Short term work in progress |
| Work in progress is stated at the lower of cost and net realisable value, being the estimated selling |
| price less costs to complete and sell. |
| At each balance sheet date, work in progress is assessed for impairment. If impaired, the carrying |
| amount is reduced to its realisable value. The impairment loss is recognised immediately in profit or loss. |
| Long term contracts |
| Profit on long term contracts is taken as the work is carried out if the final outcome can be assessed |
| with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen. |
| Contract work in progress is stated at costs incurred, less those transferred to the profit and loss |
| account, after deducting foreseeable losses and payments on account not matched with turnover. |
| Amounts recoverable on contracts are included in debtors and represent turnover recognised in |
| excess of payments on account. Excess payments on account are included in creditors. |
| Long term contract work in progress balances are subject to monthly impairment review, to evaluate the project outcome. Any provisions for cost overruns or losses are recognised immediately. |
| 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. |
| 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. |
| Going concern |
| At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director confirms to provide support to the company to meet it's obligations for the 12 months following the balance sheet date. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| CITYBRANCH HEALTHCARE LIMITED (REGISTERED NUMBER: 09319897) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Office |
| fittings | equipment | Totals |
| £ | £ | £ |
| Cost |
| At 1 January 2024 |
| and 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Directors' loan accounts | 824,033 | 617,418 |
| VAT |
| Deferred tax asset |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| VAT | 18,597 | - |
| Other creditors |
| Accruals and deferred income |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Early repayment has been made for all bank loans in 2024. Early repayment charges and all interest have been charged through profit and loss. The fixed and floating charges over the assets have been removed. |
| CITYBRANCH HEALTHCARE LIMITED (REGISTERED NUMBER: 09319897) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| Details of a loan to the director A L Gross are disclosed in note 5. At the balance sheet date, A L Gross owed the company £824,033 (2023: £617,418). There are no repayment terms on this loan however this balance includes interest charged to A L Gross totalling £13,370 (2023: £13,145), which has been charged at an official interest rate of 2.25%. |
| 9. | PENSION COMMITMENTS |
| The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £881 (2023 - £713) . Contributions of £174 were payable to the fund at the balance sheet date. (2023: £nil). |