Citrus Conveyancing Limited - Filleted accounts

Registered number

08874465

Citrus Conveyancing Limited

Filleted Accounts

31 March 2025

Citrus Conveyancing Limited
Registered number:	08874465
Balance Sheet
as at 31 March 2025

	Notes		2025		2024
			£		£
Fixed assets
Tangible assets	3		696		928
			696		928

Current assets
Debtors	4	11,018		6,541
Cash at bank and in hand		27,888		17,744
		38,906		24,285

Creditors: amounts falling due within one year	5	(16,534)		(13,816)

Net current assets			22,372		10,469

Total assets less current liabilities			23,068		11,397


Net assets			23,068		11,397

Capital and reserves
Called up share capital			2		2
Profit and loss account			23,066		11,395

Shareholders' funds			23,068		11,397

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



David Braithwaite
Director
Approved by the board on 3 June 2025

Citrus Conveyancing Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 section 1A small entities. The date of the transition is 1 April 2015.

	The transition to FRS102 Section 1A small entities has not resulted in any changes to accounting policies to those used previously.
	The accounts have been prepared under the historical cost convention and in accordance with FRS102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
	The presentation currency is £.
	The accounts have been prepared on a going concern basis. The director's consider this basis appropriate as Citrus Financial Management, a company in which the director, David Braithwaite, has a material interest, will not seek repayment of its loan, which totalled £21,395 at 31 March 2019, wholst to do so would jeopardise the comany's ability to continue trading.


	Revenue Recognition
	Turnover represents the invoiced value of services provided by the company net of payments to HM Revenue and Customs under the VAT Flat Rate Scheme.


	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 50 years
	Leasehold land and buildings	over the lease term
	Plant and machinery	over 5 years
	Office equipment	25% per annum on a reducing balance basis

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.




	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees		2025	2024
			Number	Number

	Average number of persons employed by the company		3	3


3	Tangible fixed assets
	Plant and machinery		2025
£
	Cost
	At 1 April 2024		5,244
	At 31 March 2025		5,244

	Depreciation
	At 1 April 2024		4,316
	Charge for the year		232
	At 31 March 2025		4,548

	Net book value
	At 31 March 2025		696
	At 31 March 2024		928


4	Debtors		2025	2024
			£	£

	Trade debtors		7,323	-
	Deferred tax asset		132	2,279
	Other debtors		3,563	4,262
			11,018	6,541

5	Creditors: amounts falling due within one year		2025	2024
			£	£

	Corporation tax		264	110
	Other taxes and social security costs		7,783	5,219
	Other creditors		8,487	8,487
			16,534	13,816


6	Transactions involving the directors

	At 31 March 2025 the company owed £5,000 (£5,000 - 31.3.24) to Citrus Financial Management Ltd, a company in which the director, David Braithwaite, has a material interest. This loan was unsecured and interest free. During the year the company was charged £2,000 (£2,000 - 31.3.24) by Citrus Financial Management Ltd for administratve services.

7	Controlling party

	No individual party has ultimate control of the company.


8	Other information

	Citrus Conveyancing Limited is a private company limited by shares and incorporated in England. Its registered office is:


	The Old Bank
	High Street
	Polegate
	East Sussex BN26 6AH