REGISTERED NUMBER: 08756573 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 OCTOBER 2024

FOR

CITY CULTURE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr W K Morris

REGISTERED OFFICE:

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

REGISTERED NUMBER:

08756573 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Tangible assets

4

51,414

57,127

Investment property

5

452,862

452,862

504,276

509,989

CURRENT ASSETS

Debtors

6

5,975

1,415

Cash at bank and in hand

6,073

3,954

12,048

5,369

CREDITORS

Amounts falling due within one year

7

25,756

25,967

NET CURRENT LIABILITIES

(13,708

)

(20,598

)

TOTAL ASSETS LESS CURRENT LIABILITIES

490,568

489,391

CREDITORS

Amounts falling due after more than one year

8

(328,608

)

(322,316

)

PROVISIONS FOR LIABILITIES

(23,869

)

(26,686

)

NET ASSETS

138,091

140,389

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

10

93,150

93,150

Retained earnings

44,841

47,139

SHAREHOLDERS' FUNDS

138,091

140,389

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 October 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 30 October 2025 and were signed on its behalf by:

Mr W K Morris - Director

1.	STATUTORY INFORMATION

City Culture Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office at Beckside Court, Annie Reed Road, Beverley, HU17 0LF and principle place of business at 29 Spring Bank, Hull, HU3 1AF.

The principal activity of the Company is that of a property developer.

The presentational currency of the financial statements is 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 as modified by the revaluation of certain assets.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the director, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

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

-

20% 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.

Taxation

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 31 October 2023

and 30 October 2024

63,474

DEPRECIATION

At 31 October 2023

6,347

Charge for year

5,713

At 30 October 2024

12,060

NET BOOK VALUE

At 30 October 2024

51,414

At 30 October 2023

57,127

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 31 October 2023

and 30 October 2024

452,862

NET BOOK VALUE

At 30 October 2024

452,862

At 30 October 2023

452,862

The directors have reviewed the carrying amount of the investment property at the year end based on similarly property values and committed rental income and adjusted the fair value accordingly.

Fair value at 30 October 2024 is represented by:

£

Valuation in 2020

115,000

Cost

337,862

452,862

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

5,975

1,415

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

7,743

12,109

Hire purchase contracts

9,415

7,167

Other creditors

8,598

6,691

25,756

25,967

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

283,751

268,044

Hire purchase contracts

44,857

54,272

328,608

322,316

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

252,778

223,856

9.	SECURED DEBTS

The bank mortgage is secured on the respective property by a legal charge & mortgage debenture, together with a guarantee from the director. The secured bank loan at 31st October 2024 amounted to £224,396

(2023 : £241,429).

10.

RESERVES

Revaluation

reserve

£

At 31 October 2023

and 30 October 2024

93,150

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is a loan to the company from its directors Mr W Morris.The balance outstanding at 30 October 2024 amounted to £3,030 (2023: £820 owing to the company).

The loan was made on an interest free basis and is repayable on demand.

12.	ULTIMATE CONTROLLING PARTY

The company is under the control of the sole director who own's 100% of the issued share capital.