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REGISTERED NUMBER: 01875939 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

INTERURBAN LIMITED

INTERURBAN LIMITED (REGISTERED NUMBER: 01875939)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

INTERURBAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Ms R Carruthers
Councillor A Shah





REGISTERED OFFICE: Meridian Business Centre,
King Street
Oldham
OL8 1EZ





REGISTERED NUMBER: 01875939 (England and Wales)





ACCOUNTANTS: Jane Cooksey Limited
15/16 Boarshurst Bus. Park,
Boarshurst Lane, Greenfield
Oldham
Lancashire
OL3 7ER

INTERURBAN LIMITED (REGISTERED NUMBER: 01875939)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,373,793 3,374,615

CURRENT ASSETS
Debtors 5 173,341 238,209
Cash at bank and in hand 67,104 27,708
240,445 265,917
CREDITORS
Amounts falling due within one year 6 1,855,353 1,823,084
NET CURRENT LIABILITIES (1,614,908 ) (1,557,167 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,758,885

1,817,448

CREDITORS
Amounts falling due after more than one
year

7

956,133

956,133
NET ASSETS 802,752 861,315

CAPITAL AND RESERVES
Called up share capital 3 3
Revaluation reserve 8 10,366 10,366
Retained earnings 792,383 850,946
SHAREHOLDERS' FUNDS 802,752 861,315

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

INTERURBAN LIMITED (REGISTERED NUMBER: 01875939)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by:





Ms R Carruthers - Director


INTERURBAN LIMITED (REGISTERED NUMBER: 01875939)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Interurban Limited 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost

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).

INTERURBAN LIMITED (REGISTERED NUMBER: 01875939)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 March 2022
and 28 February 2023 3,371,273 37,331 76,970 3,485,574
DEPRECIATION
At 1 March 2022 - 37,330 73,629 110,959
Charge for year - - 822 822
At 28 February 2023 - 37,330 74,451 111,781
NET BOOK VALUE
At 28 February 2023 3,371,273 1 2,519 3,373,793
At 28 February 2022 3,371,273 1 3,341 3,374,615

Cost or valuation at 28 February 2023 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
Valuation in 2018 477,267 - - 477,267
Valuation in 2020 98,566 - - 98,566
Cost 2,795,440 37,331 76,970 2,909,741
3,371,273 37,331 76,970 3,485,574

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,795,440 2,795,440

Freehold land and buildings were valued on an open market basis on 25 February 2021 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 37,813 35,131
Amounts owed by associates 130,252 186,427
Other debtors 5,276 16,651
173,341 238,209

INTERURBAN LIMITED (REGISTERED NUMBER: 01875939)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 25,147 13,656
Amounts owed to group undertakings 1,760,559 1,764,559
Amounts owed to associates - 9,000
Taxation and social security 2 2,099
Other creditors 69,645 33,770
1,855,353 1,823,084

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 956,133 956,133

8. RESERVES
Revaluation
reserve
£   
At 1 March 2022
and 28 February 2023 10,366

INTERURBAN LIMITED (REGISTERED NUMBER: 01875939)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

9. RELATED PARTY DISCLOSURES

Management and Administrative charges amounting to £nil (2022 - £9,165) have been charged to the company by Nicholson International Limited, a company in which Mr A C Pickering has a 100% interest. Expenditure on development costs of £nil (2022 - £4,585) has been charged by Nicholson International Limited.

Management and Administrative charges amounting to £45,640 (2022 - £34,940) have been charged to the company by Inspecta Limited, a company in which Mrs R Carruthers has a 100% interest. Expenditure on development costs of £nil (2022 - £11,375) has been charged by Inspecta Limited.

At the Balance Sheet date the following amounts were owing to or by Related Parties and former Related Party.


Related Party20232022
Owing to
Nicholson International Limited- 9,000

Owing by


Nicholson International Limited 70,000124,808
Interurban Estates Limited- 1,366




Owing by former Related Party


FM Nicholson (Materials Handling) Ltd60,25360,253


F M Nicholson (Materials Handling) Limited was wholly owned by Mr J P Hopwood who sold the company in December 2015.

Interurban Estates Limited is jointly owned by Mr A C Pickering and Mr J P Hopwood.

The above balances represent transactions between Interurban Limited and the related companies on normal commercial terms.

10. ULTIMATE CONTROLLING PARTY

The whole of the issued share capital of the company is owned by Meridian Development Company Limited.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
INTERURBAN LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Interurban Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Interurban Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Interurban Limited and state those matters that we have agreed to state to the Board of Directors of Interurban Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Interurban Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Interurban Limited. You consider that Interurban Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Interurban Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Jane Cooksey Limited
15/16 Boarshurst Bus. Park,
Boarshurst Lane, Greenfield
Oldham
Lancashire
OL3 7ER


17 November 2023