REGISTERED NUMBER: 09860684 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CITADEL CONTRACTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C C Paine

REGISTERED OFFICE:

The River Cafe

Rock Channel

Strand Quay

Rye

East Sussex

TN31 7DE

REGISTERED NUMBER:

09860684 (England and Wales)

ACCOUNTANTS:

Cassidys Chartered Accountants

South Stour Offices

South Stour Road

Mersham

Ashford

Kent

TN25 7HS

FIXED ASSETS

Tangible assets

4

215,078

260,506

CURRENT ASSETS

Stocks

500,226

386,571

Debtors

5

656,961

703,924

Cash at bank and in hand

30,063

26,073

1,187,250

1,116,568

CREDITORS

Amounts falling due within one year

6

121,872

113,091

NET CURRENT ASSETS

1,065,378

1,003,477

TOTAL ASSETS LESS CURRENT LIABILITIES

1,280,456

1,263,983

CREDITORS

Amounts falling due after more than one year

7

(978,009

)

(829,842

)

PROVISIONS FOR LIABILITIES

(26,361

)

(32,159

)

NET ASSETS

276,086

401,982

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

275,986

401,882

276,086

401,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 23 September 2025 and were signed by:

C C Paine - Director

1.	STATUTORY INFORMATION

Citadel Contracts 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

149,126

427,456

576,582

Additions

-

15,344

15,344

At 31 December 2024

149,126

442,800

591,926

DEPRECIATION

At 1 January 2024

57,881

258,195

316,076

Charge for year

14,913

45,859

60,772

At 31 December 2024

72,794

304,054

376,848

NET BOOK VALUE

At 31 December 2024

76,332

138,746

215,078

At 31 December 2023

91,245

169,261

260,506

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

129,036

Additions

14,219

Transfer to ownership

(14,498

)

At 31 December 2024

128,757

DEPRECIATION

At 1 January 2024

34,244

Charge for year

26,957

Transfer to ownership

(9,911

)

At 31 December 2024

51,290

NET BOOK VALUE

At 31 December 2024

77,467

At 31 December 2023

94,792

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

183,822

195,194

Other debtors

473,139

508,730

656,961

703,924

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

19,172

18,029

Trade creditors

31,603

64,052

Taxation and social security

67,547

27,771

Other creditors

3,550

3,239

121,872

113,091

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

65,290

73,641

Amounts owed to group undertakings

912,719

756,201

978,009

829,842

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

C C Paine

Balance outstanding at start of year

228,710

193,069

Amounts advanced

37,452

35,641

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

266,162

228,710

9.	RELATED PARTY DISCLOSURES

Martello Developments Limited

Holding Company

2024

2023

£

£

Amount due to related party at the balance sheet date

912,719

756,201

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Martello Developments Limited.

The ultimate controlling party is D Kowitz.