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COMPANY REGISTRATION NUMBER: 14120661
Intra Urban (Chertsey) Limited
Filleted Unaudited Financial Statements
31 May 2023
Intra Urban (Chertsey) Limited
Financial Statements
Period from 20 May 2022 to 31 May 2023
Contents
Page
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
3
Intra Urban (Chertsey) Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Intra Urban (Chertsey) Limited
Period from 20 May 2022 to 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Intra Urban (Chertsey) Limited for the period ended 31 May 2023, which comprise the statement of financial position 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Intra Urban (Chertsey) Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Intra Urban (Chertsey) Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Intra Urban (Chertsey) Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Intra Urban (Chertsey) 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 Intra Urban (Chertsey) Limited. You consider that Intra Urban (Chertsey) Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Intra Urban (Chertsey) 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.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
14 February 2024
Intra Urban (Chertsey) Limited
Statement of Financial Position
31 May 2023
31 May 23
Note
£
£
Current assets
Stocks
235,956
Cash at bank and in hand
100
---------
236,056
Creditors: amounts falling due within one year
5
357,294
---------
Net current liabilities
121,238
---------
Total assets less current liabilities
( 121,238)
---------
Net liabilities
( 121,238)
---------
Capital and reserves
Called up share capital
100
Profit and loss account
( 121,338)
---------
Shareholders deficit
( 121,238)
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 February 2024 , and are signed on behalf of the board by:
Mr Z Hanif
Director
Company registration number: 14120661
Intra Urban (Chertsey) Limited
Notes to the Financial Statements
Period from 20 May 2022 to 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3, 130 Brixton Hill, SW2 1RS, London.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Going concern
The company is reliant on the support of its directors and other associated entities in order to continue in operational existence and meet its liabilities as they fall due. The directors are satisfied that they, as well as the other associated entities will continue to support the company and as such the going concern basis is appropriate for the preparation of the accounts.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 .
5. Creditors: amounts falling due within one year
31 May 23
£
Accruals and deferred income
1,800
Other creditors
355,494
---------
357,294
---------
6. Related party transactions
At the period end, £355,494 was due to a company under common control. The amount is interest free, unsecured and repayable by demand. During the period, management charges of £23,596 was payable to a company under common control.
7. Controlling party
The company was under the control of the directors throughout the current period by virtue of their shareholdings.