City Computing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01767817 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2021

for

CITY COMPUTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Certified Accountants' Report

9

DIRECTORS:

C M H Klimpke

Mrs M L H Klimpke

M Klimpke

R Klimpke

S Klimpke

SECRETARY:

C M H Klimpke

REGISTERED OFFICE:

City House

Sutton Park Road

Sutton

Surrey

SM1 2AE

REGISTERED NUMBER:

01767817 (England and Wales)

ACCOUNTANTS:

A W Associates

Regus, Building 2

Guildford Business Park Road

Guildford

Surrey

GU2 8XG

FIXED ASSETS

Intangible assets

4

524,759

787,136

Tangible assets

5

17,083

18,981

541,842

806,117

CURRENT ASSETS

Stocks

-

19,657

Debtors

6

1,793,036

1,723,235

Cash at bank

27,972

4

1,821,008

1,742,896

CREDITORS

Amounts falling due within one year

7

690,458

830,938

NET CURRENT ASSETS

1,130,550

911,958

TOTAL ASSETS LESS CURRENT LIABILITIES

1,672,392

1,718,075

CREDITORS

Amounts falling due after more than one year

8

(396,618

)

(487,260

)

PROVISIONS FOR LIABILITIES

(26,906

)

-

NET ASSETS

1,248,868

1,230,815

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

1,198,868

1,180,815

SHAREHOLDERS' FUNDS

1,248,868

1,230,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 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 29 November 2021 and were signed on its behalf by:

C M H Klimpke - Director

1.	STATUTORY INFORMATION

City Computing 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.

Turnover

Turnover represents the value of goods and services provided, excluding value added tax, during the period.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised in line with units of sale made in the period as a direct percentage of estimated total units to be sold over the life of the product.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after the provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2020

and 28 February 2021

830,662

AMORTISATION

At 1 March 2020

43,526

Charge for year

262,377

At 28 February 2021

305,903

NET BOOK VALUE

At 28 February 2021

524,759

At 29 February 2020

787,136

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2020

and 28 February 2021

240,176

DEPRECIATION

At 1 March 2020

221,195

Charge for year

1,898

At 28 February 2021

223,093

NET BOOK VALUE

At 28 February 2021

17,083

At 29 February 2020

18,981

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

281

281

Other debtors

1,792,755

1,722,954

1,793,036

1,723,235

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

90,784

316,818

Trade creditors

39,507

41,337

Taxation and social security

71,406

12,120

Other creditors

488,761

460,663

690,458

830,938

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

396,618

487,260

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

29,459

109,042

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank overdraft

-

229,348

Bank loans

487,402

574,730

487,402

804,078

The bank loans and overdraft are secured by a charge on all the assets of the company.

10.	RELATED PARTY DISCLOSURES

C M H Klimpke and Mrs M L H Klimpke are directors and ultimate shareholders of City Computing Holdings Limited.

As at 28 February 2021 the company was owed £1,005,051 (2020 £942,891) by City Computing Holdings Limited.

During the year the company paid rent of £74,300 (2020 £74,300) to City Computing Holdings Limited.

During the year the company charged management charges of £108,000 (2020 £108,000) to City Computing Holdings Limited.

City Computing Holdings Limited, has given a guarantee to Natwest Bank Plc in respect of overdraft and loan facilities granted to the company.

City Computing Trading Limited is regarded by the directors as being the company's ultimate parent company.

Mr M Klimpke and Mr S Klimpke are directors and shareholders of Vyking Limited. During the year there were sales to Vyking Limited amounting to £166,092 (2020 £222,882).

As at 28 February 2021 the company was owed £768,668 (2020 £749,223) by Vyking Limited.

All the above transactions were considered by the directors to be at market value.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of City Computing Limited for the year ended 28 February 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of City Computing Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of City Computing Limited and state those matters that we have agreed to state to the Board of Directors of City Computing Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that City Computing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of City Computing Limited. You consider that City Computing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of City Computing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

A W Associates

Regus, Building 2

Guildford Business Park Road

Guildford

Surrey

GU2 8XG

29 November 2021