CITY TRUST LIMITED

CITY TRUST LIMITED

CITY TRUST LIMITED - Company Information

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CITY TRUST LIMITED

Company Registration Number:
01133562 (England and Wales)

Unaudited abridged accounts for the year ended 30 September 2019

Period of accounts

Start date: 01 October 2018

End date: 30 September 2019

CITY TRUST LIMITED

Contents of the Financial Statements

for the Period Ended 30 September 2019

Balance sheet
Notes

CITY TRUST LIMITED

Balance sheet

As at 30 September 2019


Notes
2019
2018


£
£
Fixed assets
Investments: 3 101 101
Total fixed assets: 101 101
Current assets
Debtors:   8,604,455 7,875,491
Cash at bank and in hand: 23,444,530 20,827,298
Total current assets: 32,048,985 28,702,789
Creditors: amounts falling due within one year:   (30,216,569) (26,993,150)
Net current assets (liabilities): 1,832,416 1,709,639
Total assets less current liabilities: 1,832,517 1,709,740
Total net assets (liabilities): 1,832,517 1,709,740
Capital and reserves
Called up share capital: 1,942,133 1,942,133
Share premium account: 151,981 151,981
Profit and loss account: (261,597) (384,374)
Shareholders funds: 1,832,517 1,709,740

The notes form part of these financial statements

CITY TRUST LIMITED

Balance sheet statements

For the year ending 30 September 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 22 September 2020
and signed on behalf of the board by:

Name: M E Mosselson
Status: Director

The notes form part of these financial statements

CITY TRUST LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Other accounting policies

Known bad debts are written off. Specific provision is made for any estimated shortfall in recovery of advances having regard to the value of the security held. In evaluating the provisions required, no regard has been taken of the future cost of financing doubtful advances.

CITY TRUST LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2019

2. Employees

2019 2018
Average number of employees during the period 4 4

CITY TRUST LIMITED

Notes to the Financial Statements

for the Period Ended 30 September 2019

3. Fixed 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.