Registration number:
Urbina Limited
for the Year Ended 30 April 2023
Urbina Limited
(Registration number: 05563189)
Balance Sheet as at 30 April 2023
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2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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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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Capital and reserves |
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Called up share capital |
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Other reserves |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 April 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Urbina Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
General information |
The company is a private company limited by share capital, incorporated and domiciled in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. The directors have been mindful of any potential future impact from events such as the cost of living crisis, energy crisis and the current situation in Ukraine and have reviewed budgets and projections for the next twelve months. From this review, the directors consider that the company is unlikely to be significantly affected and thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Urbina Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
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;
- specific criteria have been met for each of the company's activities; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Other operating income
Finance income and costs policy
Finance income and costs are recognised using the effective interest method.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% on reducing balance |
Investment property
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.
Urbina Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Urbina Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 May 2022 |
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Additions |
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At 30 April 2023 |
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Depreciation |
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At 1 May 2022 |
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Charge for the year |
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At 30 April 2023 |
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Carrying amount |
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At 30 April 2023 |
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At 30 April 2022 |
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Investment properties |
2023 |
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At 1 May 2022 and 30 April 2023 |
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Fair value adjustments |
( |
At 30 April |
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The directors, who are Chartered Surveyors, have revalued the investment properties at the their open market value as at the 30 April 2023.
Debtors |
Note |
2023 |
2022 |
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Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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Accrued income |
- |
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Urbina Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Creditors |
Due within one year |
Note |
2023 |
2022 |
Trade creditors |
- |
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Amounts due to related parties |
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Social security and other taxes |
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Accruals |
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Corporation tax liability |
39,818 |
2,740 |
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Deferred income |
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Related party transactions |
Summary of transactions with other related parties
Loans to related parties
2023 |
Other related parties |
Total |
Advanced |
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At end of period |
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Urbina Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
Loans from related parties
2023 |
Key management |
Other related parties |
Total |
At start of period |
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Advanced |
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- |
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Repaid |
( |
( |
( |
At end of period |
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- |
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2022 |
Key management |
Other related parties |
Total |
At start of period |
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Advanced |
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- |
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Repaid |
( |
- |
( |
At end of period |
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Terms of loans from related parties