ACCOUNTS - Final Accounts preparation

Registered number: 14765846

CITILINE LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

CITILINE LIMITED

REGISTERED NUMBER:14765846

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	5		204,754		483,333
			204,754		483,333
Current assets
Debtors: amounts falling due within one year	6	846,281		263,361
Cash at bank and in hand	7	16,073		2,135
		862,354		265,496
Creditors: amounts falling due within one year	8	(1,181,994)		(293,444)
Net current liabilities			(319,640)		(27,948)
Total assets less current liabilities			(114,886)		455,385
Creditors: amounts falling due after more than one year			-		(500,000)
Provisions for liabilities
Deferred tax		(51,188)		(120,644)
			(51,188)		(120,644)
Net liabilities			(166,074)		(165,259)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(166,174)	(165,359)
	(166,074)	(165,259)

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 by:

C Kaye

Director

Date: 5 December 2025

The notes on pages 2 to 9 form part of these financial statements.

Page 1

CITILINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	GENERAL INFORMATION

Citiline Ltd is a limited liability company incorporated in the United Kingdom. The registered office is Wonersh House, The Guildway, Old Portsmouth Road, Guildford, England, GU3 1LR.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The financial statements have been prepared on a going concern basis which the directors consider to be appropriate.
The directors believe that existing contracts & opportunities and projected turnover 2025/26 together with support from the parent, Advance TRS, the Company is of going concern.
The directors have prepared cashflow forecasts which indicate that the company and the group will have sufficient funds to meet it's liabilities as they fall due for at least 12 months from the date of approval of the financial statements.

2.3

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

FINANCE COSTS

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.

Page 2

CITILINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.5

PENSIONS

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.6

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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CITILINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.7

INTANGIBLE ASSETS

GOODWILL

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

OTHER INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Goodwill

2.5 years

2.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

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.

2.10

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially

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CITILINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.11

FINANCIAL INSTRUMENTS (CONTINUED)

measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 5

CITILINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.	JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Goodwill arising from the acquisition of a branch of business is subject to an annual impairment review. At each reporting date, the Company assesses whether there are any indicators that the carrying amount of goodwill may not be recoverable. If such indicators exist, the recoverable amount is estimated based on the higher of fair value less costs to sell and value in use. Where the recoverable amount is lower than the carrying amount, an impairment loss is recognised in the profit and loss account, reducing the carrying value accordingly.
The assessment of impairment involves significant judgement, particularly in estimating future financial performance of the acquired business and other variables that may affect recoverability. These include assumptions about growth rates, discount rates, and expected cash flows.

4.	EMPLOYEES
		2025	2024
		£	£

Wages and salaries	289,314	38,989
Social security costs	39,539	4,954
Cost of defined contribution scheme	10,040	1,517
	338,893	45,460

The average monthly number of employees, including directors, during the year was 2 (2024: 2).

Page 6

CITILINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5.	INTANGIBLE ASSETS

		Goodwill
		£
	COST
	At 1 April 2024	500,000
	Revaluation surplus	(71,436)
	At 31 March 2025	428,564
	AMORTISATION
	At 1 April 2024	16,667
	Charge for the year on owned assets	207,143
	At 31 March 2025	223,810
	NET BOOK VALUE
	At 31 March 2025	204,754
	At 31 March 2024	483,333

The goodwill relates to goodwill arising on the purchase of the Citiline business division from the immediate parent, Advance TRS Limited.
The useful life of this asset is considered to be 2.5 years.

6.	DEBTORS

					2025	2024
					£	£

DUE WITHIN ONE YEAR
Trade debtors	824,887	258,109
Other debtors	4,900	1,039
Prepayments and accrued income	16,494	4,213
	846,281	263,361

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CITILINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	CASH AND CASH EQUIVALENTS
		2025	2024
		£	£

Cash at bank and in hand	16,073	2,135
	16,073	2,135

8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2025	2024
		£	£

Trade creditors	194,836	79,870
Amounts owed to group undertakings	345,193	13,103
Corporation tax	72,549	-
Other taxation and social security	65,160	25,364
Other creditors	475,620	175,107
Accruals and deferred income	28,636	-
	1,181,994	293,444

9.	DEFERRED TAXATION

		2025
		£

	At beginning of year	(120,644)
	Charged to profit or loss	69,456
	AT END OF YEAR	(51,188)

The deferred tax asset is made up as follows:
	2025	2024
	£	£

	Fixed asset timing differences	(51,188)	(120,644)
		(51,188)	(120,644)

Page 8

CITILINE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

10.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

75 (2024: 75) Ordinary Shares shares of £1.00 each	75	75
25 (2024: 25) Ordinary B Shares shares of £1.00 each	25	25

	100	100

11.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independantly administered fund. The pension cost charge represents contributions payable by the Company to the fund amounted to £10,040 (2024: £1,517).

12.

RELATED PARTY TRANSACTIONS

In 2024 Advance TRS Ltd advanced loans totalling £500,000 to Citiline Limited. At year end the balance outstanding on this loan was £345,193 (2024: £500,000) and is included in amounts owed to group companies. The loan attracts no interest and is repayable on demand.
At year end Citiline Limited owed £NIL (2024: £13,103) by Advance TRS Ltd this amount is included in amounts owed by group undertakings. During the year, Citiline Limited were charged £86,452 (2024: £Nil) in relation to management charges for service provided by Advance TRS Ltd to Citiline Limited.

13.	CONTROLLING PARTY

The immediate and ultimate parent undertaking is Advance TRS Limited which prepares group financial statements. The registered office for Advance TRS Limited is Wonersh House, The Guildway, Old Portsmouth Road, Guildford, England, GU13 1LR.
The immediate parent undertaking bears the cost of remuneration for the directors of the Company, details of their remuneration can be found in the group financial statements.

14.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 5 December 2025 by David Butler FCA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

In accordance with the provisions applicable to companies subject to the small companies' regime and s444 of the Companies Act 2006, this audit report has not been filed.

Page 9