Urban & General Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09998153 (England and Wales)

Financial Statements

for the Year Ended 31 March 2019

for

URBAN & GENERAL LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M G Goodkind

Mr L A Leviton

REGISTERED OFFICE:

258 Capability Green

Luton

Bedfordshire

LU1 3LU

REGISTERED NUMBER:

09998153 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Tangible assets

4

4,438

3,279

Investment property

5

1,185,059

1,185,059

1,189,497

1,188,338

CURRENT ASSETS

Debtors

10,516

27,808

Cash at bank

-

32,879

10,516

60,687

CREDITORS

Amounts falling due within one year

461,452

491,505

NET CURRENT LIABILITIES

(450,936

)

(430,818

)

TOTAL ASSETS LESS CURRENT LIABILITIES

738,561

757,520

CREDITORS

Amounts falling due after more than one year

734,500

734,500

NET ASSETS

4,061

23,020

CAPITAL AND RESERVES

Called up share capital

8

1,000

100

Retained earnings

3,061

22,920

SHAREHOLDERS' FUNDS

4,061

23,020

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 March 2020 and were signed on its behalf by:

Mr L A Leviton - Director

1.	STATUTORY INFORMATION

Urban & General 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.	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.

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.

Fixtures and fittings

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit

arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

3,730

Additions

2,307

At 31 March 2019

6,037

DEPRECIATION

At 1 April 2018

451

Charge for year

1,148

At 31 March 2019

1,599

NET BOOK VALUE

At 31 March 2019

4,438

At 31 March 2018

3,279

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

and 31 March 2019

1,185,059

NET BOOK VALUE

At 31 March 2019

1,185,059

At 31 March 2018

1,185,059

6.

LOANS

An analysis of the maturity of loans is given below:

31.3.19

31.3.18

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

734,500

734,500

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Bank loans

734,500

734,500

Bank loans of £734,500 (2018: £734,500) are secured by fixed and floating charge over the

investment properties held by the company.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

1,000

Ordinary

£1

1,000

100

900 Ordinary shares of £1 were issued during the year for cash of £ 900 .

9.	CONTINGENT LIABILITIES

As at the balance sheet date, included in the profit and loss is £52,776 in relation to a

contingent liability for estimated repair costs to a property damaged due to fire.

10.	RELATED PARTY DISCLOSURES

At the year end, the company owed £398,257 (2018 - £471,774) to participating interest,

these are included within other creditors. These are interest free loans and are repayable on

demand.