REGISTERED NUMBER: 02261829 (England and Wales)

Deltec Citimail Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

D Ellis

L Barraclough

D Ellis

Secretary:

D Ellis

Registered office:

Squirrels Leap

Broom Way

Weybridge

Surrey

KT13 9TG

Registered number:

02261829 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Bankers:

Barclays Bank Plc

Hamilton Road

Slough

Berkshire

SL1 4NX

Solicitors:

Brown Jacobson

44 Castle Gate

Nottingham

NG1 7BJ

Fixed assets

Tangible assets

4

488

796

Investment property

5

16,575,779

17,346,187

16,576,267

17,346,983

Current assets

Debtors

6

323,367

399,879

Cash at bank and in hand

1,623,331

3,107,381

1,946,698

3,507,260

Creditors

Amounts falling due within one year

7

5,608,682

9,022,056

Net current liabilities

(3,661,984

)

(5,514,796

)

Total assets less current liabilities

12,914,283

11,832,187

Provisions for liabilities

1,504,117

1,865,611

Net assets

11,410,166

9,966,576

Capital and reserves

Called up share capital

8

100

100

Retained earnings

9

11,410,066

9,966,476

Shareholders' funds

11,410,166

9,966,576

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

D Ellis - Director

1.	Statutory information

Deltec Citimail Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02261829 and registered office address is Squirrels Leap, Broom Way, Weybridge, Surrey, KT13 9TG.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flow requirements in making their assessment. The Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover

Turnover comprises revenue recognised by the company in respect of sale of redeveloped properties and rents received during the year in relation to investment property leased within the UK, exclusive of Value Added Tax and trade discounts.

Investment property

Investment properties are included in the Balance sheet at their open market value in accordance with the FRS 102 "the Financial Reporting Standard appliance in the UK and republic of Ireland" and are not depreciated.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Key sources of estimation uncertainty and judgements

Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. Management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments.

Useful economic lives of tangible fixed assets

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates and the physical condition of the assets.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

3.	Employees and directors

The average number of employees during the year was 4 (2024 - 5 ) .

4.	Tangible fixed assets

Computer

equipment

£

Cost

At 1 April 2024

and 31 March 2025

924

Depreciation

At 1 April 2024

128

Charge for year

308

At 31 March 2025

436

Net book value

At 31 March 2025

488

At 31 March 2024

796

5.	Investment property

Total

£

Fair value

At 1 April 2024

17,346,187

Additions

479,592

Disposals

(1,250,000

)

At 31 March 2025

16,575,779

Net book value

At 31 March 2025

16,575,779

At 31 March 2024

17,346,187

Cost or valuation at 31 March 2025 is as follows:

Land and Buildings

£

At cost

10,390,954

At valuation: The properties were revalued in November 2009, on an open market basis by Sneller Commercial Chartered Surveyors

771,046

At valuation: The properties were revalued in August 2021, on an open market basis by Chalkhouse Chartered Surveyors

5,413,779

16,575,779

6.

Debtors: amounts falling due within one year

2025

2024

as restated

£

£

Trade debtors

73,176

71,889

Other debtors

250,191

327,990

323,367

399,879

7.

Creditors: amounts falling due within one year

2025

2024

as restated

£

£

Trade creditors

40,113

89,127

Taxation and social security

570,749

248,967

Other creditors

4,997,820

8,683,962

5,608,682

9,022,056

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

as restated

£

£

100

Ordinary

£1.00

100

100

9.

Reserves

Retained

earnings

£

At 1 April 2024

9,966,476

Profit for the year

1,443,590

At 31 March 2025

11,410,066

£6,184,825 relates to prior period property revaluations and is not distributable.

10.	Related party disclosures

Included in other creditors is amount due to Green & Blue Holdings for £84,067 (2024: £84,067).

Included in other creditors is amount due to the company director for £4,673,031 (2024: £8,214,211).

11.	Ultimate controlling party

The ultimate controlling party is D J Ellis, Darea Ellis and L Barraclough.