Citrus Bay Management Ltd - Accounts to registrar (filleted) - small 18.2
Citrus Bay Management Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2021 |
| for |
| Citrus Bay Management Ltd |
| Citrus Bay Management Ltd (Registered number: 04121670) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2021 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Citrus Bay Management Ltd |
| Company Information |
| for the Year Ended 31 December 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Merlin House |
| Brunel Road |
| Theale |
| Reading |
| Berkshire |
| RG7 4AB |
| Citrus Bay Management Ltd (Registered number: 04121670) |
| Statement of Financial Position |
| 31 December 2021 |
| 31.12.21 | 31.12.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| 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. |
| 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 |
| Citrus Bay Management Ltd (Registered number: 04121670) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2021 |
| 1. | STATUTORY INFORMATION |
| Citrus Bay Management Ltd is a |
| 2. | STATEMENT OF COMPLIANCE |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost convention and complies with FRS 102 Section 1A small entities. |
| The presentation currency is sterling (£). |
| Turnover |
| Turnover represents net invoiced re-charges of management fees & other company expenses. These costs are re-charged & received as income from group companies. |
| Tangible fixed assets |
| Improvements to property | - |
| Motor vehicles | - |
| Computer equipment | - |
| Government grants |
| Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. |
| A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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. |
| Citrus Bay Management Ltd (Registered number: 04121670) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 3. | ACCOUNTING POLICIES - continued |
| Pension costs and other post-retirement benefits |
| 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. |
| Debtors |
| Short term debtors are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
| Creditors |
| Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Going concern justification |
| The company meets its day to day working capital requirements partially through the support of its creditors. The directors have considered the projected trading and cash flow information for the company during the foreseeable post year end period. On the basis of this information the directors consider that the company will continue to operate within the available finance facilities. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of the support of the company's creditors. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Motor | Computer |
| property | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2021 |
| and 31 December 2021 |
| DEPRECIATION |
| At 1 January 2021 |
| Charge for year |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.21 | 31.12.20 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| VAT |
| Prepayments |
| Citrus Bay Management Ltd (Registered number: 04121670) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.21 | 31.12.20 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.21 | 31.12.20 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | - | 5,284 |
| 9. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the following balances existed with other group undertakings: |
| GCSC Holdings Limited was owed £73,606 by the company (2020 - £217,535 ) |
| Indigrow GmbH owed £8,328 to the company (2020 - Nil) |
| Indigrow Limited owed Nil to the company (2020 - £137,176 ) |
| Indigrow AB owed £79,931 to the company (2020 - £77,748) |
| Tour Best Europe Limited owed Nil to the company (2020 - £30,256) |
| Tour Best Europe GmbH owed £12,928 to the company (2020 - £Nil) |
| Indigrow AS owed £5,391 to the company (2020 - Nil) |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party is 2020 Holdings Limited. |