City Site Life Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC606697

City Site Life Limited

Filleted Unaudited Financial Statements

31 March 2025

City Site Life Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

City Site Life Limited

Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of City Site Life Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of City Site Life Limited for the year ended 31 March 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of City Site Life Limited. Our work has been undertaken solely to prepare for your approval the financial statements of City Site Life Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than City Site Life Limited and its director for our work or for this report.

It is your duty to ensure that City Site Life Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of City Site Life Limited. You consider that City Site Life Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of City Site Life Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

10 December 2025

City Site Life Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		339,642	420,388

Current assets

Debtors	6	40,501	47,790
Cash at bank and in hand		52,613	13,824
		--------	--------
		93,114	61,614

Creditors: amounts falling due within one year	7	1,102,443		912,051
		------------		---------
Net current liabilities			1,009,329	850,437
			------------	---------
Total assets less current liabilities			( 669,687)	( 430,049)

Creditors: amounts falling due after more than one year	8	2,500	12,500
		---------	---------
Net liabilities		( 672,187)	( 442,549)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 672,287)	( 442,649)
	---------	---------
Shareholders deficit	( 672,187)	( 442,549)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

City Site Life Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 10 December 2025 , and are signed on behalf of the board by:

Mr T J McCain
Director

Company registration number: SC606697

City Site Life Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ, Scotland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Going concern

The financial statements have been prepared on a going concern basis, which assumes the continued support of the shareholders. The shareholders will provide whatever financial support necessary for a period of 12 months from the date of approval of the financial statements to enable the company to meet its liabilities as they fall due.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Equipment	-	33% straight line

Financial instruments

For financial instruments measured at fair value, the basis for determining fair value must be disclosed. When a valuation technique is used, the assumptions applied in determining fair value for each class of financial assets or financial liabilities must be disclosed. If a reliable measure of fair value is no longer available for ordinary or preference shares measured at fair value through profit or loss, this must also be disclosed .

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2024: 4 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2024	937,747	98,947	1,036,694
Additions	24,419	14,463	38,882
	---------	---------	------------
At 31 March 2025	962,166	113,410	1,075,576
	---------	---------	------------
Depreciation
At 1 April 2024	555,977	60,329	616,306
Charge for the year	98,048	21,580	119,628
	---------	---------	------------
At 31 March 2025	654,025	81,909	735,934
	---------	---------	------------
Carrying amount
At 31 March 2025	308,141	31,501	339,642
	---------	---------	------------
At 31 March 2024	381,770	38,618	420,388
	---------	---------	------------

6. Debtors

	2025	2024
	£	£
Other debtors	40,501	47,790
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,577	11,527
Social security and other taxes	27,263	21,637
City Site Developments	126,200	126,199
Other creditors	938,403	752,688
	------------	---------
	1,102,443	912,051
	------------	---------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	2,500	12,500
	-------	--------

9. Related party transactions

Mr L M Goodman, shareholder, is also a director of City Site Developments Limited. As at 31st March 2025, City Site Life Limited owed £126,200 to City Site Developments Limited (2024: £126,200). Mr L M Goodman, shareholder, is also a director of Pedmyre Properties Limited. As at 31st March 2025, Pedmyre Properties owed City Site Life Limited £nil (2024: nil). As at 31st March 2025, the company owed Louis Goodman, shareholder £125,765 (2024: £353,477). The loan is interest free, unsecured and no fixed date of repayment.

10. Controlling party

The company was under the control of Mr L Goodman throughout the current and previous year.