REGISTERED NUMBER: 05108022 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

CITISPACE SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D S Serr

J R Kidd

Mrs L B Plant

REGISTERED OFFICE:

Citispace South

Regent Street

Leeds

West Yorkshire

LS2 7QN

REGISTERED NUMBER:

05108022 (England and Wales)

ACCOUNTANTS:

Fortus Limited

3 Park Square East

Leeds

LS1 2NE

FIXED ASSETS

Tangible assets

4

98,872

87,681

CURRENT ASSETS

Stocks

5

1,715

694

Debtors

6

1,154,498

1,210,090

Cash at bank and in hand

159,740

97,787

1,315,953

1,308,571

CREDITORS

Amounts falling due within one year

7

908,861

754,854

NET CURRENT ASSETS

407,092

553,717

TOTAL ASSETS LESS CURRENT LIABILITIES

505,964

641,398

CREDITORS

Amounts falling due after more than one year

8

(23,842

)

(33,968

)

PROVISIONS FOR LIABILITIES

(18,784

)

(16,658

)

NET ASSETS

463,338

590,772

CAPITAL AND RESERVES

Called up share capital

9

3

3

Retained earnings

10

463,335

590,769

SHAREHOLDERS' FUNDS

463,338

590,772

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 3 September 2025 and were signed on its behalf by:

J R Kidd - Director

1.	STATUTORY INFORMATION

Citispace Services 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

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

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 reducing balance

Fixtures and fittings

-

15% on cost

Stocks

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

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 July 2023

150,000

104,213

-

254,213

Additions

5,120

2,788

23,000

30,908

At 30 June 2024

155,120

107,001

23,000

285,121

DEPRECIATION

At 1 July 2023

131,460

35,072

-

166,532

Charge for year

4,787

14,547

383

19,717

At 30 June 2024

136,247

49,619

383

186,249

NET BOOK VALUE

At 30 June 2024

18,873

57,382

22,617

98,872

At 30 June 2023

18,540

69,141

-

87,681

5.

STOCKS

2024

2023

£

£

Stocks

1,715

694

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

388,022

333,388

Prepayments and accrued income

54,414

28,034

Amounts due from related undertakings

10,411

6,967

452,847

368,389

Amounts falling due after more than one year:

Amount due from group undertaking

701,651

841,701

Aggregate amounts

1,154,498

1,210,090

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,126

10,126

Trade creditors

457,914

231,544

Corporation tax

2,501

22,697

Social security and other taxes

38,355

101,143

Other creditors and accruals

352,511

315,438

Directors' current accounts

47,454

73,906

908,861

754,854

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loan

23,842

33,968

The loan creditor represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme. The loan creditor carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

3

Ordinary

£1

3

3

10.

RESERVES

Retained

earnings

£

At 1 July 2023

590,769

Deficit for the year

(127,434

)

At 30 June 2024

463,335

11.	RELATED PARTY DISCLOSURES

Included within amounts due from group undertakings at 30 June 2024 is an amount due from Citispace Group Limited of £595,527 (2023: £848,668) and an amount due from Citigarden Living Limited of £106,124 (2023: £61,120).

Included within amounts due to related undertakings at 30 June 2024 is and an amount due from Design Management Contracts Limited of £4,411 (2023: £6,967) and an amount due from Citispace Investments Limited of £6,000 (2023: £Nil).

During the year the company received management charges from Citigarden Living limited amounting to £Nil (2023: £200,000). The company also made recharges to Citigarden Living limited amounting to £Nil (2023: £200,000).

12.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of Suntera Trustees (Jersey) Limited, a company registered in Jersey.

13.	IMMEDIATE CONTROLLING PARTY

The company is under the immediate control of Citispace Group Limited.