Company No: 10411757 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2022		2021
		£		£
Fixed assets
Tangible assets	3	8,606		9,919
		8,606		9,919
Current assets
Debtors	4	164,509		146,528
Investments		0		7,238
Cash at bank and in hand	5	11,547		49,225
		176,056		202,991
Creditors
Amounts falling due within one year	6	( 163,858)		( 150,414)
Net current assets		12,198		52,577
Total assets less current liabilities		20,804		62,496
Creditors
Amounts falling due after more than one year	7	( 33,333)		( 43,333)
Provision for liabilities	8	( 1,578)		( 1,884)
Net (liabilities)/assets		( 14,107)		17,279
Capital and reserves
Called-up share capital		100		100
Profit and loss account		( 14,207 )		17,179
Total shareholder's (deficit)/funds		( 14,107)		17,279

For the financial year ending 31 January 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of City Structural Ltd (registered number: 10411757) were approved and authorised for issue by the Director on 12 July 2023. They were signed on its behalf by:

V Dorfman Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

City Structural Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hendford Manor, Hendford, Yeovil, BA20 1UN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	6.67 years straight line
Vehicles	15 % reducing balance
Fixtures and fittings	15 % reducing balance
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	3		3

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 February 2021	18,043		0		409		3,687		22,139
Additions	0		2,640		0		121		2,761
At 31 January 2022	18,043		2,640		409		3,808		24,900
Accumulated depreciation
At 01 February 2021	10,825		0		158		1,237		12,220
Charge for the financial year	2,705		264		38		1,067		4,074
At 31 January 2022	13,530		264		196		2,304		16,294
Net book value
At 31 January 2022	4,513		2,376		213		1,504		8,606
At 31 January 2021	7,218		0		251		2,450		9,919

4. Debtors

	2022		2021
	£		£
Trade debtors	40,127		78,667
Other debtors	124,382		67,861
	164,509		146,528

5. Cash and cash equivalents

	2022		2021
	£		£
Cash at bank and in hand	11,547		49,225

6. Creditors: amounts falling due within one year

	2022		2021
	£		£
Bank loans	10,000		6,667
Trade creditors	63,802		52,523
Corporation tax	4,357		19,375
Other taxation and social security	77,205		60,749
Obligations under finance leases and hire purchase contracts	0		3,793
Other creditors	8,494		7,307
	163,858		150,414

7. Creditors: amounts falling due after more than one year

	2022		2021
	£		£
Bank loans	33,333		43,333

8. Provision for liabilities

	2022		2021
	£		£
Deferred tax	1,578		1,884

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2022		2021
	£		£
- within one year	13,884		13,884
- between one and five years	15,041		28,925
	28,925		42,809

The commitment shown above is in relation to non-cancellable operating leases over a pool car.

10. Related party transactions

Transactions with the entity's director

The director's loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates. 

At1 April 2021, the balance owed by the director was £36,218. During the year, £131,488 was advanced to the director, and £65,435 was repaid by the director. At 31 March 2022, the balance owed by the director was £102,271.

At 1 April 2020, the balance owed by the director was £5,609. At 31 March 2021, the balance owed by the director was £36,218. 

11. Government Grants

During the year other operating income of £nil (2021 - £15,044) was received in respect of the Coronavirus Job Retention Scheme.

The total amount of grants recognised in the financial statements was £nil (2021 - £15,044).