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 PERIOD ENDED
30 July 2021
CITYLIFE HOLDINGS 4 LIMITED
STATEMENT OF FINANCIAL POSITION
30 July 2021
30 Jul 21
31 Jan 20
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
6,800,000
7,650,000
CURRENT ASSETS
Stocks
1,112,745
–
Debtors
5
239,502
5,804
Cash at bank and in hand
300,904
15,700
------------
--------
1,653,151
21,504
CREDITORS: amounts falling due within one year
6
( 3,706,381)
( 4,355,020)
------------
------------
NET CURRENT LIABILITIES
( 2,053,230)
( 4,333,516)
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
4,746,770
3,316,484
ACCRUALS AND DEFERRED INCOME
( 4,437,300)
( 62,980)
------------
------------
NET ASSETS
309,470
3,253,504
------------
------------
CAPITAL AND RESERVES
Called up share capital
200
100
Profit and loss account
309,270
3,253,404
---------
------------
SHAREHOLDERS FUNDS
309,470
3,253,504
---------
------------
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 Section 1A of 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 comprehensive income has not been delivered.
For the period ending 30 July 2021 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 period 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)
30 July 2021
These financial statements were approved by the board of directors and authorised for issue on 26 April 2022 , 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
PERIOD FROM 1 FEBRUARY 2020 TO 30 JULY 2021
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Floor 3, 6 Wellington Place, Leeds, LS1 4AP, England.
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.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are 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 2020
7,650,000
Revaluations
( 850,000)
------------
At 30 July 2021
6,800,000
------------
Depreciation
At 1 February 2020 and 30 July 2021
–
------------
Carrying amount
At 30 July 2021
6,800,000
------------
At 31 January 2020
7,650,000
------------
Included within the above is investment property as follows:
£
At 1 February 2020
7,650,000
Fair value adjustments
( 850,000)
------------
At 30 July 2021
6,800,000
------------
The market value of investment property held as at 31st July 2021 has been calculated by a RICS registered valuer, and has been valued at open market value.
5. DEBTORS
30 Jul 21
31 Jan 20
£
£
Other debtors
239,502
5,804
---------
-------
6. CREDITORS: amounts falling due within one year
30 Jul 21
31 Jan 20
£
£
Bank loans and overdrafts
–
3,753,287
Trade creditors
180,992
5,293
Amounts due to related companies
3,525,389
163,951
Other creditors
–
432,489
------------
------------
3,706,381
4,355,020
------------
------------