ACCOUNTS - Final Accounts preparation

Registered number: 14792947

Citadel Homes (RI2) Limited

Financial statements

Information for filing with the registrar

31 March 2025


Citadel Homes (RI2) Limited

Balance sheet

At 31 March 2025

		2025		2024
Note		£		£

Fixed assets
Investment property	4		3,038,092		2,609,330
			3,038,092		2,609,330
Current assets
Debtors	5	2,001		1,975
Cash at bank and in hand		108,519		45,023
		110,520		46,998
Creditors: amounts falling due within one year	6	(2,909,218)		(2,642,343)
Net current liabilities			(2,798,698)		(2,595,345)
Total assets less current liabilities			239,394		13,985

Net assets			239,394		13,985

Capital and reserves
Called up share capital	1	1
Profit and loss account	239,393	13,984
Shareholders' funds	239,394	13,985


Citadel Homes (RI2) Limited

Balance sheet (continued)

At 31 March 2025

The director considers 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 director acknowledges his 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.

D T Montgomery

Director

Company registered number: 14792947
The notes on pages 3 to 4 form part of these financial statements.


Citadel Homes (RI2) Limited

Notes to the financial statements

Year ended 31 March 2025

1.	General information

Citadel Homes (RI2) Limited ('the company') engages in the management of residential property.
The company is a private company limited by shares, incorporated and domociled in the United Kingdom and registered in England. The address of the registered office is Denton House, Denton Holme Trade Centre, Chapel Place, Carlisle, CA2 5DF.

2.Accounting policies

2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

2.2

Revenue

Turnover shown in the profit and loss account represents rental income invoiced applicable to the period, exclusive of Value Added Tax.

2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.5

Financial instruments

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.

3.	Employees
	The company has no employees other than the director, who did not receive any remuneration.


Citadel Homes (RI2) Limited

Notes to the financial statements

Year ended 31 March 2025

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2024	2,609,330
	Additions at cost	428,762
	At 31 March 2025	3,038,092

The 2025 valuations were made by the director, on an open market value for existing use basis.

Debtors

					2025	2024
					£	£


Other debtors	1	1
Prepayments and accrued income	2,000	1,974
	2,001	1,975

6.	Creditors: amounts falling due within one year
		2025	2024
		£	£

Corporation tax	43,131	-
Other creditors	2,841,492	2,611,130
Accruals and deferred income	24,595	31,213
	2,909,218	2,642,343

Related party transactions

During the year the company operated loan accounts with two companies who both share a common director; Citadel Homes (TC) Limited and Citadel Homes (Cumbria) Limited.
At the reporting date £50,000 (2024 : £250,000) and £2,791,492 (2024 : £2,359,330) was owed to Citadel Homes (TC) Limited and Citadel Homes (Cumbria) Limited respectively. The loans are unsecured, interest free, and repayable on demand.