CITY APARTMENTS LIMITED

• ◆

  2 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +10.9%

  £10,365,912 → £11,495,107

• Cash

  +193.5%

  £160,579 → £471,256

• Net assets

  +21.7%

  £9,979,664 → £12,143,760

  highest in 5 filed years

• Employees

  -5.6%

  36 → 34

• Operating profit

  -7.4%

  £425,262 → £393,988

• Profit before tax

  +1,102.3%

  £197,667 → £2,376,498

• Wages

  -6.9%

  £1,500,066 → £1,397,119

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

HaysMac LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Notwithstanding net current liabilities of £2,832,531, the financial statements have been prepared on a going concern basis due to the directors preparing cash flow forecasts for a period of at least 12 months from the date of approval of these financial statements which indicate that the Company will have sufficient funds to meet its liabilities as they fall due for that period. However these forecasts are dependent upon the Company successfully completing the ongoing process of refinancing its existing debt facilities that were due for repayment in full on 31 August 2025 and which total £6.77m in these financial statements. Since the year end the Company has secured a short extension with its existing lender for the repayment of its existing debt facilities by entering into a short term loan agreement to restructure them into a new facility of £6.5m that is repayable on 29 December 2025. In addition, the Company is currently in the process of refinancing these debt facilities into a long term 5 year loan. Heads of terms have been agreed for this new long term facility and negotiations are in an advanced stage for finalising, confirming the facility and the facility being available. Although the new facilities have not been confirmed, given the advanced state of the negotiations, the directors are confident that the refinancing of the Company's debt facilities into a longer term facility will be successfully completed. Accordingly they do not consider the need to refinance to represent a matter that gives rise to a material uncertainty over going concern.”

Significant events

• “A significant development during the year was the acquisition of City Apartments in October 2024 by the Ando Living Group, a Lisbon-based serviced apartment and lifestyle hospitality operator.”
• “A shareholder loan debtor balance of £1.44 million was settled and replaced with a new intercompany debtor of £3.16 million, both reflected within current assets.”
• “The Company also signed a new lease agreement on the previously vacant retail/commercial unit at 68 Cannon Street to Screwfix Limited and subsequently reclassified this part of the asset to an investment property. This resulted in the recognition of an investment property asset of £1.19 million.”
• “Following the year end, the Company entered into a loan agreement securing a facility amount of £6,525,313 to repay its existing bank loans that were due for repayment in August 2025. The interest rate is on a floating rate basis with a margin of 1.81% per annum. The new loan facility is repayable on 29 December 2025.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

2

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.