| REGISTERED NUMBER: |
| Citygrove Securities Limited |
| Unaudited Financial Statements for the Year Ended 31 March 2026 |
| REGISTERED NUMBER: |
| Citygrove Securities Limited |
| Unaudited Financial Statements for the Year Ended 31 March 2026 |
| Citygrove Securities Limited (Registered number: 04757585) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2026 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Citygrove Securities Limited |
| Company Information |
| for the Year Ended 31 March 2026 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Suite F2 |
| Church House Business Centre |
| Church Street |
| Godalming |
| Surrey |
| GU7 1EW |
| Citygrove Securities Limited (Registered number: 04757585) |
| Balance Sheet |
| 31 March 2026 |
| 31.3.26 | 31.3.25 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| Citygrove Securities Limited (Registered number: 04757585) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2026 |
| 1. | STATUTORY INFORMATION |
| Citygrove Securities Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include accrued income. |
| Turnover |
| Turnover consists of project related management fees relating to the year under unconditional contracts from projects in the United Kingdom, Spain and Germany, and the recharge of project related costs. Turnover is stated net of VAT. Turnover is recognised when the company obtains the right to consideration, which is when a project is complete and the profit can be accurately determined. |
| Accrued income represents rechargeable costs invoiced during the year that relate to future developments. |
| Tangible fixed assets |
| Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. |
| Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset over its expected useful life, as follows:- |
| Office equipment | - 25% per annum on a straight line basis |
| Fixtures & fittings | - 25% per annum on a straight line basis |
| Pictures | - 10% per annum on a straight line basis |
| Impairment of assets |
| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. |
| If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss. |
| Citygrove Securities Limited (Registered number: 04757585) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial instruments comprise financial assets, cash and cash equivalents, financial liabilities and equity instruments. |
| Financial assets |
| Financial assets are classified as either financial assets at fair value through profit or loss, or loans and receivables, as appropriate. When financial assets are recognised initially, they are measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of the financial asset are capitalised unless they relate to a financial asset classified at fair value through profit and loss in which case transaction costs are expensed in the income statement. |
| The Company determines the classification of its financial assets at initial recognition and, where allowed and appropriate, re-evaluates this designation at each financial year end. |
| Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market.After initial measurement loans and receivables are subsequently carried at amortised cost, using the effective interest rate method, less any allowance for impairment.Amortised cost is calculated by taking into account any discount or premium on acquisition over the period to maturity. Gains and losses are recognised in the income statement when the loans and receivables are de-recognised or impaired, as well as through the amortisation process. |
| Cash and cash equivalents |
| Cash and cash equivalents are balances with banks. |
| Financial liabilities |
| Financial liabilities include interest bearing loans and borrowings, and trade and other payables. |
| Obligations for loans and borrowings are recognised when the Company becomes party to the related contracts and are measured initially at the fair value of consideration received less directly attributable transaction costs. |
| After initial recognition, interest bearing loans and borrowings are subsequently measured at amortised cost using the effective interest method. |
| Gains and losses are recognised in the income statement when the liabilities are derecognised as well as through the amortisation process. |
| Equity |
| Equity instruments issued by the Company are recorded in equity at the proceeds received, net of direct issue costs. |
| 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. |
| Citygrove Securities Limited (Registered number: 04757585) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Investments |
| Investments are stated at cost less accumulated impairment losses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2025 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2025 |
| Additions |
| At 31 March 2026 |
| DEPRECIATION |
| At 1 April 2025 |
| Charge for year |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| Citygrove Securities Limited (Registered number: 04757585) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 April 2025 |
| and 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| 6. | DEBTORS |
| 31.3.26 | 31.3.25 |
| £ | £ |
| Amounts falling due within one year: |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.26 | 31.3.25 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.3.26 | 31.3.25 |
| £ | £ |
| Within one year |
| Between one and five years |
| Citygrove Securities Limited (Registered number: 04757585) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.26 | 31.3.25 |
| £ | £ |
| 1. Loan from a related party | - | 5,792,500 |
| 2. Loan from a related party | 9,837,666 | 8,107,830 |
| 1. The loan outstanding at 31.03.2025 was secured by way of a fixed charge over assets of the company and a negative pledge. |
| 2. The loan is secured by way of a floating charge over the assets of the company. |
| 10. | TRANSACTIONS WITH RELATED PARTIES |
| COMPANIES UNDER COMMON CONTROL | 31.3.26 | 31.3.25 |
| £ | £ |
| Fees receivable | 3,237,705 | 1,444,341 |
| Other operating income | 250,000 | 250,000 |
| Fees payable | 4,300,000 | 1,125,000 |
| Loans to companies under common control | 48,533,647 | 38,829,193 |
| Loans forgiven | - | - |
| Provision for doubtful debt | - | - |
| Loans from companies under common control | 17,006,138 | 15,531,659 |
| (a) Included in loans from companies under common control is £9,837,666 (2025: £8,107,830) for which | security has given as described in Note 10. The other loans from companies under common control are unsecured. All the loans from companies under common control are interest free and repayable on demand. |
| (b) Included in loans to companies under common control are three loans totalling £21,977,551 (2025: | £15,022,213) which are repayable after more than one year. Two of these loans bear interest at 1% per annum and one loan bears interest at 1.95% per annum. The other loans to companies under common control are interest free and repayable on demand. All the loans to companies under common control are unsecured. |
| Other Creditors include the following amounts due to related parties: |
| £850,000 (2025: £950,000) owed to the wife of a director. The loan is interest free and repayable on demand. |
| £nil (2025: £5,792,500) owed to a trust, of which the wife of a director is the settlor and principal beneficiary. (2025: £4,000,000 of the loan is interest free and £1,792,500 bears interest at 3.75%). The loan was repaid in the year. See note 10 for details of security given. |
| £14,010,885 (2025: £410,000) owed to a director. The loan is interest free and repayable on demand. |