Urban Creation (Shaw) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08874093 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2020

for

Urban Creation (Shaw) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Brecknell

Mrs S J Brecknell

REGISTERED OFFICE:

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

REGISTERED NUMBER:

08874093 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Tangible assets

4

33,170

44,227

Investment property

5

5,135,000

4,990,000

5,168,170

5,034,227

CURRENT ASSETS

Debtors

6

537,251

358,531

Cash at bank

230

52

537,481

358,583

CREDITORS

Amounts falling due within one year

7

1,453,421

1,557,533

NET CURRENT LIABILITIES

(915,940

)

(1,198,950

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,252,230

3,835,277

CREDITORS

Amounts falling due after more than one year

8

(2,772,407

)

(2,537,923

)

PROVISIONS FOR LIABILITIES

(282,353

)

(254,803

)

NET ASSETS

1,197,470

1,042,551

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

1,197,370

1,042,451

SHAREHOLDERS' FUNDS

1,197,470

1,042,551

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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.

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 and authorised for issue on 21 October 2020 and were signed on its behalf by:

J Brecknell - Director

1.	STATUTORY INFORMATION

Urban Creation (Shaw) 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company is wholly owned by Urban Creation Management Limited.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised evenly over the rental period.

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

-

25% on reducing balance

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 NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 February 2019

and 31 January 2020

59,622

DEPRECIATION

At 1 February 2019

15,395

Charge for year

11,057

At 31 January 2020

26,452

NET BOOK VALUE

At 31 January 2020

33,170

At 31 January 2019

44,227

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2019

4,990,000

Revaluations

145,000

At 31 January 2020

5,135,000

NET BOOK VALUE

At 31 January 2020

5,135,000

At 31 January 2019

4,990,000

Fair value at 31 January 2020 is represented by:

£

Valuation in 2018

553,768

Valuation in 2019

787,302

Valuation in 2020

145,000

Cost

3,648,930

5,135,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.1.20

31.1.19

£

£

Cost

3,648,930

3,648,930

The investment property was valued on an open market basis on 31 January 2020 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade debtors

6,979

10,731

Other debtors

523,034

340,376

Prepayments

7,238

7,424

537,251

358,531

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade creditors

7,022

108,291

Other creditors

1,071,490

1,092,335

Directors' current accounts

114,267

117,649

Accruals and deferred income

260,642

239,258

1,453,421

1,557,533

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.20

31.1.19

£

£

Other creditors

2,772,407

2,537,923

9.	SECURED DEBTS

Within the Group, a legal charge is held over the freehold land and buildings known as 4 Park Lane, St Michael's Hill, Bristol.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.20

31.1.19

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 February 2019

1,042,451

Profit for the year

154,919

At 31 January 2020

1,197,370

The company has non-distributable reserves totalling £1,203,717.

12.	RELATED PARTY DISCLOSURES

During the year, management charges totalling £28,505 were incurred, and due to Urban Creation Limited, a company under common control but not within the Group.

At the year end, £911,796 (2019: £986,190) was owed to Urban Creation Limited by Urban Creation (Shaw) Limited.