City Life Ventures Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11121747 (England and Wales)

Unaudited Financial Statements

for the Period 21 December 2017 to 31 December 2018

for

City Life Ventures Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S A King

A R King

REGISTERED OFFICE:

4 Parkfield Crescent

Taunton

Somerset

TA1 4RX

REGISTERED NUMBER:

11121747 (England and Wales)

ACCOUNTANTS:

Cooper Associates Accountants Ltd

40 St James Buildings

St James Street

Taunton

Somerset

TA1 1JR

FIXED ASSETS

Tangible assets

3

3,451,071

CURRENT ASSETS

Debtors

4

111,076

Cash at bank

115,890

226,966

CREDITORS

Amounts falling due within one year

5

927,529

NET CURRENT LIABILITIES

(700,563

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,750,508

CREDITORS

Amounts falling due after more than one year

6

1,433,396

NET ASSETS

1,317,112

CAPITAL AND RESERVES

Called up share capital

1,600

Share premium

1,758,400

Retained earnings

(442,888

)

1,317,112

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

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.

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 2 May 2019 and were signed on its behalf by:

S A King - Director

1.	STATUTORY INFORMATION

City Life Ventures 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain 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.

Taxation

Taxation for the period 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 period 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.

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

Additions

3,149,240

Revaluations

301,831

At 31 December 2018

3,451,071

NET BOOK VALUE

At 31 December 2018

3,451,071

Cost or valuation at 31 December 2018 is represented by:

Land and

buildings

£

Valuation in 2018

301,831

Cost

3,149,240

3,451,071

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

7,189

Other debtors

103,887

111,076

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other loans

841,669

Trade creditors

36,007

Other creditors

49,853

927,529

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

1,433,396