Urban Investments Limited - Accounts to registrar (filleted) - small 17.3
Urban Investments Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 28 February 2017 |
| for |
| Urban Investments Limited |
| Urban Investments Limited (Registered number: 05718643) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Urban Investments Limited |
| Company Information |
| for the Year Ended 28 February 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 1 Mychell House |
| Pincott Road |
| Wimbledon |
| London |
| SW19 2NN |
| Urban Investments Limited (Registered number: 05718643) |
| Balance Sheet |
| 28 February 2017 |
| 28.2.17 | 28.2.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 6 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 on |
| Urban Investments Limited (Registered number: 05718643) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2017 |
| 1. | STATUTORY INFORMATION |
| Urban Investments Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 and depreciation |
| Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected |
| useful life, as follows: |
| Land and Buildings - (none) |
| Fixtures, fittings and equipment - 25% Reducing Balance Methoe |
| 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. |
| Investment property |
| In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) no depreciation is |
| provided in respect of freehold properties held as investments. |
| This treatment is a departure from the requirements of the companies acts 2006, concerning the depreciation fixed |
| assets. However, these properties are not held for consumption but for investments and the directors consider that |
| systematic depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the accounts |
| to show a true and fair view. depreciation or amortisation is only one of many factors reflected in an annual valuation |
| and the amount might otherwise have been shown cannot be identified or quantified. |
| Investment properties initial recognised at cost and subsequently reflected at a market value which is equivalent to its |
| cost. As in the opinion of Directors the market value of the property would not be significantly different as compare |
| with the cost as the property and the cost for valuing property will be out of proportion as with the benefit to the users |
| of accounts. |
| Urban Investments Limited (Registered number: 05718643) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2017 |
| 3. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and |
| property | fittings | Totals |
| £ | £ | £ |
| COST |
| At 29 February 2016 |
| Additions |
| At 28 February 2017 |
| DEPRECIATION |
| At 29 February 2016 |
| Charge for year |
| At 28 February 2017 |
| NET BOOK VALUE |
| At 28 February 2017 |
| At 28 February 2016 |
| Included in cost of land and buildings is freehold land of £ 1,065,156 (2016 - £ 1,065,156 ) which is not depreciated. |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.17 | 28.2.16 |
| £ | £ |
| VAT |
| Prepayments |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.17 | 28.2.16 |
| £ | £ |
| Trade creditors |
| Corporation tax payable |
| Amounts Owed - Golfrate | 173 | 173 |
| Directors' current accounts | 689 | 689 |
| Accrued expenses |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 28.2.17 | 28.2.16 |
| £ | £ |
| Amounts owed to group undertakings |
| 7. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the amount due to group companies was £1,058,057. (28 February 2016 - £980,244). During |
| the year company was charged interest amounting to £42,813 on loans advanced by the group companies. |