Citylife Holdings 4 Limited Filleted accounts for Companies House (small and micro)

Citylife Holdings 4 Limited Filleted accounts for Companies House (small and micro)

CITYLIFE HOLDINGS 4 LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09976887
CITYLIFE HOLDINGS 4 LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 January 2019
CITYLIFE HOLDINGS 4 LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2019
2019
2018
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
7,650,000
–
CURRENT ASSETS
Stocks
–
414,062
Debtors
5
16,994
3,027
Cash at bank and in hand
9,532
1,859
--------
---------
26,526
418,948
CREDITORS: amounts falling due within one year
6
( 3,874,526)
( 426,866)
------------
---------
NET CURRENT LIABILITIES
( 3,848,000)
( 7,918)
------------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
3,802,000
( 7,918)
------------
-------
NET ASSETS/(LIABILITIES)
3,802,000
( 7,918)
------------
-------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
3,801,900
( 8,018)
------------
-------
SHAREHOLDERS FUNDS/(DEFICIT)
3,802,000
( 7,918)
------------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The 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 Act with respect to accounting records and the preparation of financial statements .
CITYLIFE HOLDINGS 4 LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2019
These financial statements were approved by the board of directors and authorised for issue on 29 October 2019 , and are signed on behalf of the board by:
A Georgallis
Director
Company registration number: 09976887
CITYLIFE HOLDINGS 4 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2019
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, England, LS1 4DJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services provided, exclusive of Value Added Tax.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost comprises the acquisition and development costs excluding interest. Development costs include infrastructure costs and costs of houses built. The cost of land acquisition includes options to purchase land, and the cost of any investigation work prior to purchase.
Financial instruments
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 entity after deducting all of its financial liabilities.
4. TANGIBLE ASSETS
Investment Property
£
Cost or valuation
At 1 February 2018
–
Additions
3,866,124
Revaluations
3,783,876
------------
At 31 January 2019
7,650,000
------------
Depreciation
At 1 February 2018 and 31 January 2019
–
------------
Carrying amount
At 31 January 2019
7,650,000
------------
At 31 January 2018
–
------------
Tangible assets held at valuation
The investment property was revalued to market value during the year by the directors.
5. DEBTORS
2019
2018
£
£
Trade debtors
1,620
–
Other debtors
15,374
3,027
--------
-------
16,994
3,027
--------
-------
6. CREDITORS: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
3,382,002
–
Trade creditors
62,216
3,857
Corporation tax
4,316
–
Social security and other taxes
14,049
–
Amounts due to related companies
20,611
25,900
Other creditors
391,332
397,109
------------
---------
3,874,526
426,866
------------
---------