Citibox Business Centres Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03693858 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

CITIBOX BUSINESS CENTRES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr F V Laryea

Mr S P Cowie

REGISTERED OFFICE:

15 Cromwell Park

Chipping Norton

Oxfordshire

OX7 5SR

REGISTERED NUMBER:

03693858 (England and Wales)

AUDITORS:

Jamesons Limited

Chartered Accountants and Statutory Auditors

Jamesons House

Compton Way

Witney

OX28 3AB

CURRENT ASSETS

Debtors

6

16,829

13,869

Cash at bank

60,339

8,714

77,168

22,583

CREDITORS

Amounts falling due within one year

7

1,065,225

1,080,258

NET CURRENT LIABILITIES

(988,057

)

(1,057,675

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(988,057

)

(1,057,675

)

CAPITAL AND RESERVES

Called up share capital

8

980

980

Share premium

111,290

111,290

Retained earnings

(1,100,327

)

(1,169,945

)

SHAREHOLDERS' FUNDS

(988,057

)

(1,057,675

)

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 13 September 2018 and were signed on its behalf by:

Mr F V Laryea - Director

1.	STATUTORY INFORMATION

Citibox Business Centres 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

These financial statements have been prepared on a going concern basis even though the company has net current

liabilities at 31st December 2017 of £988,057 (2016 - £1,057,675 ). The validity of the going concern principle is

dependant upon the continued support of its creditors and the trading position of its parent company (Central London

Business Centres Limited) and fellow group members.

If the company was unable to continue trading, adjustments would have to be made to reduce the balance sheet value of

the assets to their recoverable amounts, provide for further liabilities that might arise, and to reclassify fixed assets as

current assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Tangible fixed assets

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

Financial instruments

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an

original maturity date of three months or less.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction

price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 6 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

and 31 December 2017

5,247

DEPRECIATION

At 1 January 2017

and 31 December 2017

5,247

NET BOOK VALUE

At 31 December 2017

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

16,829

13,869

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

506

8,625

Trade creditors

349

1,912

Taxation and social security

4,980

2,928

Other creditors

1,059,390

1,066,793

1,065,225

1,080,258

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

980

Ordinary

1

980

980

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

The Report of the Auditors was unqualified.

Anita Lyon ACA FCCA (Senior Statutory Auditor)

for and on behalf of Jamesons Limited