General Information
Londoncity Housing Ltd is a private company, limited by shares, registered in England and Wales, registration number 07483519, registration address Unit 12 City Business Centre, Lower Road, SE16 2XB.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
|
| 2. |
Average number of employees
Average number of employees during the year was 5 (2024 : 5).
|
| 3. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Advance Rent To Landloard |
16,234 |
|
17,772 |
| Deposit To Landlord |
44,888 |
|
47,768 |
| Rent Receivable From Tenant |
4,496 |
|
2,688 |
| CityBike |
89,471 |
|
89,471 |
| S455 Tax Recoverable |
5,719 |
|
5,719 |
| Directors' Current Accounts |
16,944 |
|
17,060 |
|
177,752 |
|
180,478 |
|
| 4. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
20,040 |
|
20,368 |
| Corporation Tax |
9,034 |
|
5,719 |
| PAYE & Social Security |
1,765 |
|
10,034 |
| Accrued Expenses |
0 |
|
900 |
| Rent Received In Advance From Tenants |
23,851 |
|
31,544 |
| Deposits From Tenants |
60,970 |
|
59,875 |
| Rent To Properties Pending To Pay |
7,139 |
|
20,839 |
|
122,799 |
|
149,279 |
|
| 5. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
38,697 |
|
45,959 |
|
38,697 |
|
45,959 |
|
| 6. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Pension Provisions |
135 |
|
35 |
|
135 |
|
35 |
|
| 7. |
Related parties
During the year the company entered into the following transactions with related parties: | Transaction value - income/(expenses) | | Balance owed by/(owed to) |
|---|
| 2025
£ | | 2024
£ | | 2025
£ | | 2024
£ |
|---|
| Bicitour | 0 | | 0 | | 89,471 | | 89,471 |
Londoncity Housing has invested in Bicitour and the current book value of the investment in as follows.
|
|
Director Loan Account
The director owes £16,944 to the company at the year end.
The above balance is interest free with no fixed date for repayment.
A £5,719 Section 455 tax has been applied on the directors loan balance as at 31 January 2024.
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2
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