Urban Creation (Charlotte Street) Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09770567 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2023

for

Urban Creation (Charlotte Street) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Brecknell

REGISTERED OFFICE:

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

REGISTERED NUMBER:

09770567 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Tangible assets

4

85,656

84,777

Investments

5

100

100

Investment property

6

9,560,000

8,655,000

9,645,756

8,739,877

CURRENT ASSETS

Debtors

7

6,064

1,077,243

Cash at bank

25,902

9,044

31,966

1,086,287

CREDITORS

Amounts falling due within one year

8

233,192

674,131

NET CURRENT (LIABILITIES)/ASSETS

(201,226

)

412,156

TOTAL ASSETS LESS CURRENT LIABILITIES

9,444,530

9,152,033

CREDITORS

Amounts falling due after more than one year

9

(4,713,113

)

(5,394,534

)

PROVISIONS FOR LIABILITIES

(1,159,795

)

(709,494

)

NET ASSETS

3,571,622

3,048,005

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

12

3,571,522

3,047,905

SHAREHOLDERS' FUNDS

3,571,622

3,048,005

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 18 October 2023 and were signed by:

J Brecknell - Director

1.	STATUTORY INFORMATION

Urban Creation (Charlotte Street) Ltd 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

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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 (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 February 2022

287,336

Additions

28,223

At 31 January 2023

315,559

DEPRECIATION

At 1 February 2022

202,559

Charge for year

27,344

At 31 January 2023

229,903

NET BOOK VALUE

At 31 January 2023

85,656

At 31 January 2022

84,777

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2022

and 31 January 2023

100

NET BOOK VALUE

At 31 January 2023

100

At 31 January 2022

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2022

8,655,000

Revaluations

905,000

At 31 January 2023

9,560,000

NET BOOK VALUE

At 31 January 2023

9,560,000

At 31 January 2022

8,655,000

Fair value at 31 January 2023 is represented by:

£

Valuation in 2017

1,508,447

Valuation in 2019

730,355

Valuation in 2020

385,255

Valuation in 2021

26,000

Valuation in 2022

1,084,128

Valuation in 2023

905,000

Cost

4,920,815

9,560,000

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

31.1.23

31.1.22

£

£

Cost

4,920,815

4,920,815

The investments property was valued on an open market basis on 31 January 2023 by the director .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Other debtors

-

1,068,107

VAT

-

3,051

Prepayments and accrued income

6,064

6,085

6,064

1,077,243

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Other creditors

205,589

640,859

Directors' current accounts

-

22,100

Accruals and deferred income

27,603

11,172

233,192

674,131

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.23

31.1.22

£

£

Other creditors

4,713,113

5,394,534

10.	SECURED DEBTS

Within the Group, there is a charge against the properties known as 14, 15 and 16 Charlotte Street, Bristol. There is also a fixed and floating charge over the assets of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.23

31.1.22

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Retained

earnings

£

At 1 February 2022

3,047,905

Profit for the year

523,617

At 31 January 2023

3,571,522

The company has non-distributable reserves totalling £3,479,389.

13.	RELATED PARTY DISCLOSURES

During the year, management charges totalling £60,382 (2022: £51,848) were charged to the company by Urban Creation Limited,a company under common control but outside of the Group.

At the year end, £174,678 (2022: 122,894) was owed to Urban Creation Limited by Urban Creation (Charlotte Street) Limited.