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Registered number: 03672268
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Citadel Homes (Cumbria) Limited
Financial statements
Information for filing with the registrar
31 March 2025
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Citadel Homes (Cumbria) Limited
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Balance sheet
At 31 March 2025
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Stocks and work in progress
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Debtors: amounts falling due after more than one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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1
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Citadel Homes (Cumbria) Limited
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Balance sheet (continued)
At 31 March 2025
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 October 2025.
Company registered number: 03672268
The notes on pages 3 to 6 form part of these financial statements.
2
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Citadel Homes (Cumbria) Limited
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Notes to the financial statements
Year ended 31 March 2025
Citadel Homes (Cumbria) Limited (the company) operates as a construction contractor company.
The company is a private company limited by shares, incorporated and domiciled in England and Wales. The address of the registered office is Denton House, Denton Holme Trade Centre, Chapel Place, Carlisle, Cumbria, CA2 5DF.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. Land sales are recognised upon completion. Rents are recognised as receivable.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
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Citadel Homes (Cumbria) Limited
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Notes to the financial statements
Year ended 31 March 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Stock and work in progress
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Stocks are stated at the lower of cost and net estimated selling price less selling costs. Cost is based on a weighted average purchase price.
For work in progress, cost refers to the incurred construction costs and a proportion of attributable overheads.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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The average monthly number of employees, including directors, during the year was 6 (2024 - 6).
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4
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Citadel Homes (Cumbria) Limited
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Notes to the financial statements
Year ended 31 March 2025
5
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Citadel Homes (Cumbria) Limited
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Notes to the financial statements
Year ended 31 March 2025
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Due after more than one year
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Amounts owed by group undertakings
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Amounts owed by connected companies
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Prepayments and accrued income
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Related party transactions
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During the year, the company engaged in transactions with a company which has a common director, Citadel Homes (RI2) Limited. The balance owed to the company at the year end was £2,791,492 (2024 : £2,359,330). This loan was unsecured, interest free, and repayable on demand.
As a wholly-owned subsidiary undertaking, the company is exempt from disclosing transactions with its parent company and other wholly-owned subsidiary undertakings within the same group.
6
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