Registration number: 09735792

City Life Developments Dale Street Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

City Life Developments Dale Street Ltd

Company Information

Director

Mr John Morley

Registered office

80 & 82 Great George Street Liverpool L1 5FF

Accountants

Williamson Croft (Liverpool) Limited Chartered Certified Accountants1 Old Hall Street 1st Floor Liverpool L3 9HF

City Life Developments Dale Street Ltd

(Registration number: 09735792)
Balance Sheet as at 30 September 2024

	Note	2024 £	(As restated) 2023 £
Fixed assets
Tangible assets	4	5,410	6,762
Investment property	5	1,906,569	1,906,569
		1,911,979	1,913,331
Current assets
Debtors	6	60,367	100,820
Cash at bank and in hand		27,017	6,161
		87,384	106,981
Creditors: Amounts falling due within one year	7	(130,661)	(627,020)
Net current liabilities		(43,277)	(520,039)
Total assets less current liabilities		1,868,702	1,393,292
Creditors: Amounts falling due after more than one year	7	(789,071)	(347,264)
Provisions for liabilities		(218,979)	(218,979)
Net assets		860,652	827,049
Capital and reserves
Called up share capital	8	1	1
Retained earnings		860,651	827,048
Shareholders' funds		860,652	827,049

City Life Developments Dale Street Ltd

(Registration number: 09735792)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 September 2025
 

......................................... Mr John Morley Director

City Life Developments Dale Street Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
80 & 82 Great George Street
Liverpool
L1 5FF
England

These financial statements were authorised for issue by the director on 30 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Reclassification of comparative amounts

Upon review of the prior year financial statements a number of errors have been identified. Investment property totalling £1,906,569 has been classified as land and buildings within tangible fixed assets. In addition no deferred tax provision had been accounted for in respect of fair value gains previously recognised on the investment property. Upon discovery of the errors the director has taken the decision to restate the prior year comparatives to correct these errors. The overall effect on the financial statements is a reduction of profit in the prior year totalling £52,555 and a reduction in the prior year profit and loss reserve brought forward totalling £166,424. Finally an increase of £218,979 in provisions in respect of deferred tax.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of property during the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

City Life Developments Dale Street Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	Reducing balance 20%

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

City Life Developments Dale Street Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

City Life Developments Dale Street Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 October 2023	32,246	32,246
At 30 September 2024	32,246	32,246
Depreciation
At 1 October 2023	25,484	25,484
Charge for the year	1,352	1,352
At 30 September 2024	26,836	26,836
Carrying amount
At 30 September 2024	5,410	5,410
At 30 September 2023	6,762	6,762

5	Investment properties

	2024 £
At 1 October	1,906,569
At 30 September	1,906,569

At the year end the director has valued investment properties held by the company at £1,906,569 (2023 £1,906,569). The valuation is based on market values of similar properties in the surrounding area.

If the investment properties had been accounted for under the historic cost accounting rules, the value would be £1,030,655 (2023 £1,030,655).

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current	Note	2024 £	2023 £
Amounts owed by related parties	9	41,125	33,490
Other debtors		19,242	67,330
		60,367	100,820

City Life Developments Dale Street Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

	Note	2024 £	(As restated) 2023 £
Due within one year
Loans and borrowings		22,076	561,777
Trade creditors		18,833	15,809
Taxation and social security		53,948	42,137
Accruals and deferred income		21,678	-
Other creditors		14,126	7,297
		130,661	627,020