CITY PROPERTY LETS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S M Bamber-Powell

J S Garcia

SECRETARY:

Mrs S M Bamber-Powell

REGISTERED OFFICE:

58 Gloucester Road

Bishopsworth

Bristol

BS7 8BH

REGISTERED NUMBER:

03163138 (England and Wales)

ACCOUNTANTS:

Bowen Accountants Ltd

Chartered Accountants

Unit 1 Gate Farm

High Street

Sutton Benger

Chippenham

Wiltshire

SN15 4RE

FIXED ASSETS

Intangible assets

4

-

40,000

Tangible assets

5

32,814

63,203

Investment property

6

780,000

740,000

812,814

843,203

CURRENT ASSETS

Debtors

7

22,750

14,166

Prepayments and accrued income

23

833

Cash at bank

237,655

470,412

260,428

485,411

CREDITORS

Amounts falling due within one year

8

20,987

314,907

NET CURRENT ASSETS

239,441

170,504

TOTAL ASSETS LESS CURRENT LIABILITIES

1,052,255

1,013,707

PROVISIONS FOR LIABILITIES

10

(159,972

)

(158,047

)

ACCRUALS AND DEFERRED INCOME

(3,639

)

(4,731

)

NET ASSETS

888,644

850,929

CAPITAL AND RESERVES

Called up share capital

80

80

Revaluation reserve

11

521,484

527,536

Capital redemption reserve

11

20

20

Retained earnings

11

367,060

323,293

888,644

850,929

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 19 September 2025 and were signed on its behalf by:

Mrs S M Bamber-Powell - Director

1.	STATUTORY INFORMATION

City Property Lets Ltd 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 3 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

50,000

Disposals

(50,000

)

At 31 March 2025

-

AMORTISATION

At 1 April 2024

10,000

Eliminated on disposal

(10,000

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

40,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

154,907

Additions

1,627

Disposals

(101,262

)

At 31 March 2025

55,272

DEPRECIATION

At 1 April 2024

91,704

Charge for year

7,975

Eliminated on disposal

(77,221

)

At 31 March 2025

22,458

NET BOOK VALUE

At 31 March 2025

32,814

At 31 March 2024

63,203

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

740,000

Additions

40,000

At 31 March 2025

780,000

NET BOOK VALUE

At 31 March 2025

780,000

At 31 March 2024

740,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

4,784

Other debtors

22,750

9,382

22,750

14,166

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

-

199

Taxation and social security

18,214

27,089

Other creditors

2,773

287,619

20,987

314,907

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

The mortgage is secured against property owned by the company.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

159,972

158,047

Deferred

tax

£

Balance at 1 April 2024

158,047

Charge to Income Statement during year

1,925

Balance at 31 March 2025

159,972

11.

RESERVES

Capital

Retained

Revaluation

redemption

earnings

reserve

reserve

Totals

£

£

£

£

At 1 April 2024

323,293

527,536

20

850,849

Profit for the year

69,714

69,714

Dividends

(32,000

)

(32,000

)

Revaluation

6,053

(6,052

)

-

1

At 31 March 2025

367,060

521,484

20

888,564