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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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Citispace Services Limited |
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REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements for the Year Ended 31 December 2016 |
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for |
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Citispace Services Limited |
Citispace Services Limited (Registered number: 05108022) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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Citispace Services Limited |
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Company Information |
for the Year Ended 31 December 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
3 Park Square |
Leeds |
LS1 2NE |
Citispace Services Limited (Registered number: 05108022) |
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Report of the Directors |
for the Year Ended 31 December 2016 |
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The directors present their report with the financial statements of the company for the year ended 31 December 2016. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of property management. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2016 to the date of this |
report. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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Citispace Services Limited (Registered number: 05108022) |
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Income Statement |
for the Year Ended 31 December 2016 |
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Period |
1/4/15 |
Year Ended | to |
31/12/16 | 31/12/15 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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2,065 | 69,329 |
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Other operating income |
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OPERATING PROFIT | 4 |
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Interest payable and similar expenses |
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(LOSS)/PROFIT BEFORE TAXATION | ( |
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Tax on (loss)/profit |
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( |
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(LOSS)/PROFIT FOR THE FINANCIAL
YEAR |
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Citispace Services Limited (Registered number: 05108022) |
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Balance Sheet |
31 December 2016 |
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31.12.16 | 31.12.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
Citispace Services Limited (Registered number: 05108022) |
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Balance Sheet - continued |
31 December 2016 |
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The financial statements were approved by the Board of Directors on
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Citispace Services Limited (Registered number: 05108022) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Citispace Services Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced services excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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Period |
1/4/15 |
Year Ended | to |
31/12/16 | 31/12/15 |
£ | £ |
Depreciation - owned assets |
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Citispace Services Limited (Registered number: 05108022) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 January 2016 |
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Additions |
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Disposals |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Trade debtors |
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Prepayments and accrued income |
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Amounts due from group undertakings | 963,756 | 1,295,903 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors and accruals |
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Amount due to group undertaking | 9,555 | 285,970 |
Directors' current accounts | 3,877 | - |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.16 | 31.12.15 |
£ | £ |
Hire purchase contracts |
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Citispace Services Limited (Registered number: 05108022) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.12.16 | 31.12.15 |
£ | £ |
Hire purchase contracts | 43,484 | - |
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10. | CONTINGENT LIABILITIES |
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Lloyds Bank Plc holds a cross company guarantee with the company for a loan to Citispace Group Limited. The |
amount outstanding on the loan at 31 December 2016 is £1,834,853. |
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11. | RELATED PARTY DISCLOSURES |
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Included in debtors at 31 December 2016 is an amount due from Citispace Group Limited of £Nil (2015: |
£1,295,903) and from Citispace Properties Limited of £963,756 (2015: £Nil) |
Included in creditors at 31 December 2016 is an amount due to Citispace Properties Limited of £Nil (2015: |
£285,970) and to Citispace Management Services Limited £9,555 (2015: £Nil) |
Mr. Serr, Mrs. Plant, Mr. Kidd & Mr. Fieldsend are directors in Citispace Group Limited, Citispace Properties |
Limited and Citispace Services Limited. Mr. Serr & Mr. Kidd are directors in Citispace Management Services |
Limited. |
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12. | ULTIMATE CONTROLLING PARTY |
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The company is under the ultimate control of The Helm Trust Company Limited, a company registered in |
Jersey. |
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13. | IMMEDIATE CONTROLLING PARTY |
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The company is under the immediate control of Citispace Group Limited. |