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

REGISTERED NUMBER: 09998153 (England and Wales)

Financial Statements

for the Year Ended 31 March 2021

for

URBAN & GENERAL LIMITED

Page

Company Information

1

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

2,023

3,231

Investment property

5

1,342,000

1,342,000

1,344,023

1,345,231

CURRENT ASSETS

Debtors

6

33,743

35,314

Cash at bank

44,878

24,486

78,621

59,800

CREDITORS

Amounts falling due within one year

7

34,890

126,796

NET CURRENT ASSETS/(LIABILITIES)

43,731

(66,996

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,387,754

1,278,235

CREDITORS

Amounts falling due after more than one year

8

(1,104,244

)

(1,056,276

)

PROVISIONS FOR LIABILITIES

11

(29,819

)

(29,819

)

NET ASSETS

253,691

192,140

CAPITAL AND RESERVES

Called up share capital

12

1,000

1,000

Fair value reserve

127,122

127,122

Retained earnings

125,569

64,018

SHAREHOLDERS' FUNDS

253,691

192,140

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 6 December 2021 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 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.

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 NIL (2020 - 2 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2020

and 31 March 2021

6,037

DEPRECIATION

At 1 April 2020

2,806

Charge for year

1,208

At 31 March 2021

4,014

NET BOOK VALUE

At 31 March 2021

2,023

At 31 March 2020

3,231

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

and 31 March 2021

1,342,000

NET BOOK VALUE

At 31 March 2021

1,342,000

At 31 March 2020

1,342,000

Fair value at 31 March 2021 is represented by:

£

Valuation in 2019

156,941

Cost

1,185,059

1,342,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

19,277

28,826

Other debtors

11,672

4,684

Tax

382

370

Prepayments and accrued income

2,412

1,434

33,743

35,314

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

16,379

10,243

Tax

14,721

-

Other creditors

250

113,013

Accruals and deferred income

3,540

3,540

34,890

126,796

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans (see note 9)

1,104,244

1,056,276

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.21

31.3.20

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

1,104,244

1,056,276

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Bank loans

1,104,244

1,056,276

Bank loans of £1,104,244 (2020: £1,056,276) are secured by fixed and floating charge over the investment properties held by the company.

11.	PROVISIONS FOR LIABILITIES

31.3.21

31.3.20

£

£

Deferred tax

29,819

29,819

Deferred

tax

£

Balance at 1 April 2020

29,819

Balance at 31 March 2021

29,819

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

1,000

Ordinary

£1

1,000

1,000

13.	RELATED PARTY DISCLOSURES

As at the balance sheet date, included in debtors due within one year is £1,747 (2020: £28,253), and £1,747 (2020; £28,253) due to Sadie Lou Ltd and Quadelle Ltd respectively, companies in which there is common directorship.

As at the balance sheet date, included in creditors due within one year is £250 (2020: £nil) in relation to Rent Connect Housing Limited, a company in which there in common directorship.