REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2023 |
for |
Urra Investments Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2023 |
for |
Urra Investments Limited |
Urra Investments Limited (Registered number: 09869811) |
Contents of the Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Urra Investments Limited |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 Kingfisher Court |
Bowesfield Park |
Stockton on Tees |
TS18 3EX |
Urra Investments Limited (Registered number: 09869811) |
Balance Sheet |
31 January 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Fair value reserve | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
Urra Investments Limited (Registered number: 09869811) |
Notes to the Financial Statements |
for the Year Ended 31 January 2023 |
1. | STATUTORY INFORMATION |
Urra Investments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Although the company had net current liabilities of £73,134 as at 31 January 2023 (2022 : £92,757), these financial statements have been prepared on a going concern basis. Short term creditors include a loan from another group company of £63,619 and the directors of this group company have indicated that repayment of this loan balance will not be required to the detriment of this company's ability to continue to operate. The directors will provide additional financial support to the company if required. |
These financial statements do not include any adjustments that would result should the company not continue to trade. |
Turnover |
Turnover represents rents receivable in respect of the company's investment properties. |
Investment property |
Investment properties are measured at their fair value at each reporting date with any changes in fair value recognised in the profit and loss account. The excess of fair value over historical cost is shown in the Fair Value Reserve, net of any relevant deferred tax provision in respect of the revalued property. |
Freehold investment properties are not depreciated. |
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 that have been enacted or substantively enacted by the balance sheet date. |
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. |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss in other administrative expenses. |
Urra Investments Limited (Registered number: 09869811) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2022 |
and 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
Fair value at 31 January 2023 is represented by: |
£ |
Valuation in 2019 | 53,574 |
Cost | 96,426 |
150,000 |
If freehold investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 96,426 | 96,426 |
The investment properties were valued at fair value by the director Mr S D Brown, a RICS qualified chartered surveyor with a longstanding involvement in the local property market. The valuation of the property is assessed using his professional knowledge of the industry, the property and its condition and in comparison with similar properties in the local area. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
A Ordinary Shares | £1 | 60 | 60 |
B Ordinary Shares | £1 | 60 | 60 |
120 | 120 |
Urra Investments Limited (Registered number: 09869811) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
7. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 February 2022 |
and 31 January 2023 |
8. | GROUP UNDERTAKINGS |
The company is a wholly owned subsidiary of Urra Holdings Limited, a company registered in England & Wales. The holding company's registered office address is as follows: |
Urra House |
Chop Gate |
Stokesley |
Middlesbrough |
TS9 7HZ |