REGISTERED NUMBER: 01682493 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CITYLINK GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W S Fattal

D Cohen

REGISTERED OFFICE:

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

REGISTERED NUMBER:

01682493 (England and Wales)

FIXED ASSETS

Tangible assets

4

345,000

460,000

Investments

5

7,377,323

7,344,854

Investment property

6

2,450,000

2,450,000

10,172,323

10,254,854

CURRENT ASSETS

Debtors

7

824,980

517,469

Investments

8

188,636

598,676

Cash at bank

44,300

104,677

1,057,916

1,220,822

CREDITORS

Amounts falling due within one year

9

349,973

386,417

NET CURRENT ASSETS

707,943

834,405

TOTAL ASSETS LESS CURRENT LIABILITIES

10,880,266

11,089,259

CREDITORS

Amounts falling due after more than one year

10

8,316,430

8,549,421

NET ASSETS

2,563,836

2,539,838

CAPITAL AND RESERVES

Called up share capital

4,562,500

4,562,500

Share premium

5,123,856

5,123,856

Revaluation reserve

11

1,864,592

1,864,592

Fair value reserve

11

749,332

749,332

Retained earnings

(9,736,444

)

(9,760,442

)

SHAREHOLDERS' FUNDS

2,563,836

2,539,838

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 9 November 2025 and were signed on its behalf by:

W S Fattal - Director

1.	STATUTORY INFORMATION

Citylink Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover represents amounts receivable for the sale of goods and services and rental income provided in the normal course of business.

Tangible fixed assets

Depreciation is provided on a straight line basis at the following annual rates in order to write off each asset over its estimated useful life.The rates are as follows:

Motor vehicles 25% per annum

Computer equipment, plant and machinery, fixtures 20% to 33% per annum

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Pensions

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.

Investments

Investments in subsidiaries are stated at cost, less provision for impairment, based on the net asset valuation, if net assets are lower than cost.

Current asset investments are stated at cost less provision for diminution in value.

Going concern

The financial statements have been prepared on a going concern basis as it has strong reserves and the director has confirmed that it will continue to support Citylink Group Limited in order that it can meet its liabilities as they fall due and continue to trade in the foreseeable future, if need be.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

1,035,000

152,046

1,187,046

Disposals

-

(19,670

)

(19,670

)

At 31 December 2024

1,035,000

132,376

1,167,376

DEPRECIATION

At 1 January 2024

575,000

152,046

727,046

Charge for year

115,000

-

115,000

Eliminated on disposal

-

(19,670

)

(19,670

)

At 31 December 2024

690,000

132,376

822,376

NET BOOK VALUE

At 31 December 2024

345,000

-

345,000

At 31 December 2023

460,000

-

460,000

5.	FIXED ASSET INVESTMENTS

2024

2023

£

£

Shares in group undertakings

100,000

100,000

Loans to group undertakings

7,277,323

7,244,854

7,377,323

7,344,854

Additional information is as follows:

Shares in

group

undertakin

£

COST

At 1 January 2024

and 31 December 2024

4,643,619

PROVISIONS

At 1 January 2024

and 31 December 2024

4,543,619

NET BOOK VALUE

At 31 December 2024

100,000

At 31 December 2023

100,000

Loans to

group

undertakin

£

At 1 January 2024

7,244,854

New in year

32,469

At 31 December 2024

7,277,323

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

2,450,000

NET BOOK VALUE

At 31 December 2024

2,450,000

At 31 December 2023

2,450,000

Investment properties comprise directors' valuation on an open market basis of £2,450,000 (2023: £2,450,000).

The historical cost of the investment properties is £376,000.

7.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

50,207

(21,002

)

Amounts owed by related undertakings

206,171

206,171

Other debtors

71,253

72,728

VAT

271

2,737

Prepayments

8,248

3,668

336,150

264,302

Amounts falling due after more than one year:

Amounts owed by related undertakings

488,830

253,167

Aggregate amounts

824,980

517,469

8.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Listed investments

187,856

597,896

Unlisted investments

780

780

188,636

598,676

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

46,316

86,637

Social security and other taxes

1,190

2,540

Other creditors

185,108

219,503

Accruals and deferred income

117,359

77,737

349,973

386,417

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to related undertakings

8,316,430

8,549,421

11.

RESERVES

Fair

Revaluation

value

reserve

reserve

Totals

£

£

£

At 1 January 2024

and 31 December 2024

1,864,592

749,332

2,613,924

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At 31 December 2024, Cedardrive Limited group, under the directors' control, was owed £6,056,687 (2023: £6,501,026) to the company.The movement in the outstanding balance is a result of changes in the funding requirements of the companies.

Management fees of £Nil (2023: £Nil) were charged to Consortium Commercial Developments Limited, a subsidiary of Cedardrive Limited. Net Interest of £Nil (2023: £Nil) was received in connection with the related party loans.

In addition, a net balance of £1,842,223.05 (2023: £1,842,223.05) is owed to various trusts in which the directors are beneficiaries and companies controlled by those trusts. The movements in the outstanding balances are as a result of loans from the trusts.

13.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate control of the Company rests with the trustees of overseas trusts.