City Computing Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01767817 (England and Wales)

Financial Statements for the Year Ended 28 February 2017

for

CITY COMPUTING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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)

AUDITORS:

A W Associates

Regus Building

Wellington Way

Brooklands Business Park

Weybridge

Surrey

KT13 0TT

FIXED ASSETS

Intangible assets

4

850,458

830,662

Tangible assets

5

24,395

22,139

874,853

852,801

CURRENT ASSETS

Stocks

10,774

-

Debtors

6

912,001

788,293

Cash at bank and in hand

120,367

178

1,043,142

788,471

CREDITORS

Amounts falling due within one year

7

491,894

479,249

NET CURRENT ASSETS

551,248

309,222

TOTAL ASSETS LESS CURRENT LIABILITIES

1,426,101

1,162,023

CREDITORS

Amounts falling due after more than one year

8

742,862

566,624

NET ASSETS

683,239

595,399

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

633,239

545,399

SHAREHOLDERS' FUNDS

683,239

595,399

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27 November 2017 and were signed on its behalf by:

C M H Klimpke - Director

Mrs M L 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 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. 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 11 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2016

830,662

Additions

28,103

At 28 February 2017

858,765

AMORTISATION

Charge for year

8,307

At 28 February 2017

8,307

NET BOOK VALUE

At 28 February 2017

850,458

At 29 February 2016

830,662

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2016

226,803

Additions

8,646

At 28 February 2017

235,449

DEPRECIATION

At 1 March 2016

204,664

Charge for year

6,390

At 28 February 2017

211,054

NET BOOK VALUE

At 28 February 2017

24,395

At 29 February 2016

22,139

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

281

-

Other debtors

911,720

788,293

912,001

788,293

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

217,437

218,521

Trade creditors

17,987

37,678

Taxation and social security

85,454

121,228

Other creditors

171,016

101,822

491,894

479,249

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

742,862

566,624

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

394,640

306,624

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

135,861

153,521

Bank loans

824,438

631,624

960,299

785,145

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

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Wordingham (Senior Statutory Auditor)

for and on behalf of A W Associates

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

28 February 2017 and 29 February 2016:

2017

2016

£

£

C M H Klimpke

Balance outstanding at start of year

(7,206

)

(3,845

)

Amounts advanced

20,087

-

Amounts repaid

-

(3,361

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

12,881

(7,206

)

M Klimpke

Balance outstanding at start of year

-

-

Amounts advanced

8,307

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,307

-

12.	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 2017 the company was owed £708,478 (2016 £624,595) by City

Computing Holdings Limited.

During the year the company paid rent of £44,300 (2016 £44,300) 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.

13.	FIRST YEAR ADOPTION

These financial statements for the year ended 28 February 2017 are the first financial

statements that comply with FRS 102 Section 1A small entities.The date of transition is 1

March 2016.

The transition to FRS 102 Section 1A small entities has not resulted in any changes in the

accounting policies adopted by the company.