Urbanbuy Property Management Limited - Period Ending 2022-12-31
Urbanbuy Property Management Limited - Period Ending 2022-12-31
Registration number:
Urbanbuy Property Management Limited
(A company limited by guarantee)
for the Year Ended 31 December 2022
Urbanbuy Property Management Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Urbanbuy Property Management Limited
Company Information
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Directors |
MP Clemow J J Adley C L Messenger E Russell C L Fox |
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Registered office |
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Accountants |
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Urbanbuy Property Management Limited
(Registration number: 02201985)
Balance Sheet as at 31 December 2022
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Note |
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2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Reserves |
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Retained earnings |
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Surplus |
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For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Urbanbuy Property Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
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General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
United Kingdom
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Income comprises the service charges received or receivable for the maintenance and upkeep of the freehold
property value of the consideration received or receivable in the ordinary course of the company’s activities.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Land and Buildings |
2% on a straight line basis |
Urbanbuy Property Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Urbanbuy Property Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022
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Tangible assets |
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Land and buildings |
Total |
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Cost or valuation |
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At 1 January 2022 |
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At 31 December 2022 |
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Depreciation |
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At 1 January 2022 |
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Charge for the year |
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At 31 December 2022 |
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Carrying amount |
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At 31 December 2022 |
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At 31 December 2021 |
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Included within the net book value of land and buildings above is £421 (2021 - £427) in respect of freehold land and buildings.
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Creditors |
Creditors: amounts falling due within one year
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2022 |
2021 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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