Company registration number 09595486 (England and Wales)
Citylife Limited
Unaudited Financial Statements
For The Year Ended 29 November 2025
Pages For Filing With Registrar
CITYLIFE LIMITED
Citylife Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10
CITYLIFE LIMITED
Citylife Limited
BALANCE SHEET
AS AT
29 NOVEMBER 2025
29 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
300,000
-
0
Investments
4
640
240
300,640
240
Current assets
Debtors
5
180,450
130,900
Cash at bank and in hand
16,796
750
197,246
131,650
Creditors: amounts falling due within one year
6
(547,617)
(82,714)
Net current (liabilities)/assets
(350,371)
48,936
Total assets less current liabilities
(49,731)
49,176
Creditors: amounts falling due after more than one year
7
(19,444)
(24,999)
Net (liabilities)/assets
(69,175)
24,177
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
(69,375)
23,977
Total equity
(69,175)
24,177
CITYLIFE LIMITED
Citylife Limited
BALANCE SHEET (CONTINUED)
AS AT
29 NOVEMBER 2025
29 November 2025
- 2 -

For the financial year ended 29 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements. true

The financial statements were approved by the board of directors and authorised for issue on 1 June 2026 and are signed on its behalf by:
Mr G Morgan
Director
Company registration number 09595486 (England and Wales)
CITYLIFE LIMITED
Citylife Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2025
- 3 -
1
Accounting policies
Company information

Citylife Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Azets, 12 King Street, Leeds, LS1 2HL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The immediate and ultimate parent company is BKJ Capital Limited. The company and its parent company comprise a small group and as such are exempt from preparing group accounts.

1.2
Going concern

A true t the time of approving the financial statements, the company has net liabilities of £69,175 (2024 - net assets of £24,177) and net current liabilities of £350,371 (2024 - net current assets of £48,936). Depsite this, t he directors have a reasonable expectation that the company can continue to trade for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Revenue comprises rent received from customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of property occupation is transferred to the tenant. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

CITYLIFE LIMITED
Citylife Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2025
1
Accounting policies
(Continued)
- 4 -

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of 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 deducting all of its liabilities.

CITYLIFE LIMITED
Citylife Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Investment property
2025
£
Fair value
At 30 November 2024
-
0
Additions
300,000
At 29 November 2025
300,000

Investment property comprises the acquisition of Unit A Springwell Gardens, acquired during the year at a cost of £300,000. The directors believe the market value at the year end has not materially changed from that at the time of purchase.

CITYLIFE LIMITED
Citylife Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2025
3
Investment property
(Continued)
- 6 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2025
£
Cost
300,000
Accumulated depreciation
(6,000)
Carrying amount
294,000
CITYLIFE LIMITED
Citylife Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2025
- 7 -
4
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
640
240
Movements in fixed asset investments
Shares in subsidiaries and associates
£
Cost or valuation
At 30 November 2024
240
Additions
400
At 29 November 2025
640
Carrying amount
At 29 November 2025
640
At 29 November 2024
240

During the year, the company acquired 200 shares in Citylife Holdings 4B Limited at £1 each. The company also acquired 200 shares in Citylife Holdings 4 Limited at £1 each.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
5,250
-
0
Amounts owed by group undertakings
115,633
80,000
Other debtors
59,567
50,900
180,450
130,900

Included within amounts owed by group undertakings are connected company loan balances, with common directorships, of £115,633 (2024 - £80,000) which are unsecured, interest free and repayable on demand.

Included within other debtors are connected company loan balances, with common directorships, of £59,567 (2025 - £50,900) which are unsecured, interest free and repayable on demand.

CITYLIFE LIMITED
Citylife Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2025
- 8 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
5,556
5,556
Trade creditors
124
6,594
Amounts owed to group undertakings
505,500
26,730
Taxation and social security
3,979
11,304
Other creditors
32,458
32,530
547,617
82,714

Included within bank loans are outstanding loans totalling £5,556 (2024 - £5,556) which are repayable over 5 years, interest is charged at 2.5% and are secured by the UK Government under the Bounce Back Loan Scheme.

Included within amounts owed to group undertakings are connected company loan balances, with common directorships, of £505,500 (2024 - £26,730), which are unsecured, interest free and repayable on demand.

Included within other creditors are connected company loan balances, with common directorships, of £29,463 (2024 - £29,440), which are unsecured, interest free and repayable on demand.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
19,444
24,999

Included within bank loans are outstanding loans totalling £19,444 (2024 - £24,999) which are repayable over 5 years, interest is charged at 2.5% and are secured by the UK Government under the Bounce Back Loan Scheme.

CITYLIFE LIMITED
Citylife Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2025
- 9 -
8
Related party transactions

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Amounts owed by group undertakings
505,500
26,730
Other Creditors
29,463
29,480

Included within amounts due to group undertakings is an amount of £505,293 (2024 - £26,730) which is owed to Citylife Holdings 4 Limited, a company in which G Morgan and K Johnson are directors.

Included within amounts due to group undertakings is an amount of £7 (2024 - £nil) which is owed to Citylife Holdings 4A Limited, a company in which G Morgan and K Johnson are directors.

Included within amounts due to group undertakings is an amount of £200 (2024 - £nil) which is owed to Citylife Holdings 4B Limited, a company in which G Morgan and K Johnson are directors.

Included within other creditors is an amount of £29,423 (2024 - £29,440) which is owed to Citylife Holdings 6 Limited, a company in which G Morgan and K Johnson are directors.

Included within other creditors is an amount of £40 (2024 - £40) which is owed Monroe Lettings and Property Management Ltd, a company in which neither G Morgan or K Johnson are directors.

2025
2024
Amounts due from related parties
£
£
Amounts owed by group undertakings
115,633
80,000
Other debtors
59,567
50,900

Included within amounts owed by group undertakings is an amount of £115,633 (2024 - £nil), which is owed from BKJ Capital Limited, a company in which K Johnson is a director.

Included within amounts owed by group undertakings is an amount of £nil (2024 - £80,000), which is owed from Citylife Holdings Limited, a company in which G Morgan and K Johnson are directors.

Included within other debtors is an amount of £59,567 (2024 - £nil), which is owed from M Capial Citylife Limited, a company in which G Morgan and K Johnson are directors.

Included within other debtors is an amount of £nil (2024 - £30,900), which is owed from Citylife Holdings 5 Limited, a company in which G Morgan and K Johnson are directors.

Included within other debtors is an amount of £nil (2024 - £20,000), which is owed from Monroe Lettings & Property Management Ltd, a company in which Citylife Limited holds a 40% equity interest.

CITYLIFE LIMITED
Citylife Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2025
- 10 -
9
Subsidiaries

Details of the company's subsidiaries at 29 November 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Citylife Holdings 4A Limited
12 King Street, Leeds, England, LS1 2HL
Ordinary
100.00
Citylife Holdings 4 Limited
12 King Street, Leeds, England, LS1 2HL
Ordinary
100.00
Citylife Holdings 4B Limited
12 King Street, Leeds, England, LS1 2HL
Ordinary
100.00

10
Associates

Details of the company's associates at 29 November 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Monroe Lettings and Property Management Ltd
Unit A Springwell Gardens, Whitehall Road, Leeds, England, LS12 1FJ
Ordinary
40.00

11
Parent company

The immediate and ultimate parent company is BKJ Capital Limited. The company and its parent company comprise a small group and as such are exempt from preparing group accounts.

12
Group Guarantees

At 29 November 2025, Citylife Limited is party to a cross-guarantee agreement with certain companies within the group. Under the terms of this arrangement the company has guaranteed a liability of £10,824,581 held by Citylife Holdings 4 Limited, owed to Hampshire Trust Bank PLC.

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