ACCOUNTS - Final Accounts preparation

URBAN & GENERAL LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-03-312017-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrueThe principal activity of the company was that of property rental.false2016-02-10Urban & General Limited 09998153 2016-02-09 09998153 2016-02-10 2017-03-31 09998153 2017-03-31 09998153 c:Director2 2016-02-10 2017-03-31 09998153 d:FurnitureFittings 2016-02-10 2017-03-31 09998153 d:FurnitureFittings 2017-03-31 09998153 d:FurnitureFittings d:OwnedOrFreeholdAssets 2016-02-10 2017-03-31 09998153 d:LeaseholdInvestmentProperty 2016-02-10 2017-03-31 09998153 d:LeaseholdInvestmentProperty 2017-03-31 09998153 d:CurrentFinancialInstruments 2017-03-31 09998153 d:Non-currentFinancialInstruments 2017-03-31 09998153 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 09998153 d:Non-currentFinancialInstruments d:AfterOneYear 2017-03-31 09998153 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2017-03-31 09998153 d:ShareCapital 2017-03-31 09998153 d:RetainedEarningsAccumulatedLosses 2017-03-31 09998153 c:FRS102 2016-02-10 2017-03-31 09998153 c:AuditExempt-NoAccountantsReport 2016-02-10 2017-03-31 09998153 c:FullAccounts 2016-02-10 2017-03-31 09998153 c:PrivateLimitedCompanyLtd 2016-02-10 2017-03-31 iso4217:GBP xbrli:pure

Registered number: 09998153

URBAN & GENERAL LIMITED

(FORMERLY HANNAFORD PROPERTY LIMITED)

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017


URBAN & GENERAL LIMITED (FORMERLY HANNAFORD PROPERTY LIMITED)

CONTENTS

	Page
Balance sheet	1 - 2
Notes to the financial statements	3 - 7


URBAN & GENERAL LIMITED (FORMERLY HANNAFORD PROPERTY LIMITED) REGISTERED NUMBER:09998153

BALANCE SHEET

AS AT 31 MARCH 2017

		2017
Note		£

Fixed assets
Tangible assets	4		490
Investment property	5		247,983
			248,473
Current assets
Debtors: amounts falling due within one year	6	25,394
Cash at bank and in hand	7	7,196
		32,590
Creditors: amounts falling due within one year	8	(126,550)
Net current (liabilities)/assets			(93,960)
Total assets less current liabilities			154,513
Creditors: amounts falling due after more than one year	9		(161,850)

Net (liabilities)/assets			(7,337)

Capital and reserves
Called up share capital			100
Profit and loss account			(7,437)
			(7,337)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 November 2017.

D C Goldberg

Director

The notes on pages 3 to 7 form part of these financial statements.


URBAN & GENERAL LIMITED (FORMERLY HANNAFORD PROPERTY LIMITED) REGISTERED NUMBER:09998153

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2017


URBAN & GENERAL LIMITED (FORMERLY HANNAFORD PROPERTY LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017

1.	General information

Urban & General Limited is a private company, limited by shares, domiciled in England and Wales, registeration number 09998153. The address of it's principal business is 167 Broadhurst Gardens, London, NW6 3AU.
The principal activity of the company was that of property rental.
The company was incorporated on 10 February 2016 and commenced trading on 9 September 2016.
During the period, the company changed it's accounting reference date from 28 February 2017 to 31 March 2017.
During the period, the company changed it's legal name from Hannaford Property Limited to Urban & General Limited on 6 September 2016.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on the going concern basis as the directors have confirmed they will continue to provide necessary funding in order for the company to maintain operations and meet liabilities in full for at least the next 12 months. On the basis, the directors are satisfied that the financial statements should be prepared on a going concern basis.

2.3

Revenue

Turnover comprises of revenue recognised by the company for rental income during the period.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings

20%

Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.


URBAN & GENERAL LIMITED (FORMERLY HANNAFORD PROPERTY LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017

2.Accounting policies (continued)

2.5

Investment property

Investment property is carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.8

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Finance costs

Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.11

Borrowing costs

All borrowing costs are recognised in the profit and loss account in the period in which they are incurred.

Employees

The average monthly number of employees, including directors, during the period was 20.


URBAN & GENERAL LIMITED (FORMERLY HANNAFORD PROPERTY LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	Additions	665
	At 31 March 2017	665
	Depreciation
	Charge for the period on owned assets	175
	At 31 March 2017	175
	Net book value
	At 31 March 2017	490

5.	Investment property

		Long term leasehold investment property
		£
	Valuation
	Additions at cost	247,983
	At 31 March 2017	247,983

The 2017 valuations were made by the directors, on an open market value for existing use basis.


URBAN & GENERAL LIMITED (FORMERLY HANNAFORD PROPERTY LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017

Debtors

					2017
					£


	Other debtors	12,367
	Prepayments and accrued income	13,027
		25,394

7.	Cash and cash equivalents
		2017
		£

	Cash at bank and in hand	7,196
		7,196

8.	Creditors: Amounts falling due within one year
		2017
		£

	Other creditors	122,531
	Accruals and deferred income	4,019
		126,550

9.	Creditors: Amounts falling due after more than one year
		2017
		£

	Bank loans	161,850
		161,850

Secured loans

The bank loan is secured against the investment properties with fixed and floating charges.


URBAN & GENERAL LIMITED (FORMERLY HANNAFORD PROPERTY LIMITED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017

10.	Loans
	Analysis of the maturity of loans is given below:
		2017
		£



	Amounts falling due 2-5 years
	Bank loans	161,850

		161,850

11.	Related party transactions
	At the period end, the company owed £122,531 to participating interests, these are included within other creditors.