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Registered Number: 11631529
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 September 2023

for

URBAN RISE DEVELOPMENTS LTD

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Investments 3 58,600   
58,600   
Current assets      
Inventories   2,272,122 
Debtors 290    326 
Cash at bank and in hand (6)   2,999 
284    2,275,447 
Creditors: amount falling due within one year (438,015)   (389,224)
Net current assets (437,731)   1,886,223 
 
Total assets less current liabilities (379,131)   1,886,223 
Creditors: amount falling due after more than one year   (1,934,465)
Net assets (379,131)   (48,242)
 

Capital and reserves
     
Called up share capital 4 1,000    1,000 
Profit and loss account (380,131)   (49,242)
Shareholders' funds (379,131)   (48,242)
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The directors of the company have elected not to include the Income Statement within the financial statements. 
The financial statements were approved by the board of directors on 30 September 2024 and were signed on its behalf by:


-------------------------------
A Chan
Director
1
General Information
Urban Rise Developments Ltd is a company limited by shares and is incorporated in England and Wales. The address of the registered office is Grosvenor House, 11 St. Pauls Square, Birmingham, West Midlands, B3 1RB. The nature of the company's operations and its principal activity was that of property development.
1.

Accounting policies

Significant accounting policies
The company's financial statements have been prepared in compliance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention and on a going concern basis. The financial statements comprise the unaudited financial statements of the company up to 30 September each year, and are stated in pound sterling, the company's functional and presentational currency.

The principal accounting policies applied in the preparation of these financial statements are set out below, these policies have been applied consistently to all the years presented, unless otherwise stated.
Going concern basis
The Directors have formed a judgement, at the time of approving the financial statements, that there is an expectation that the Company, with the support of its shareholders, has adequate resources to continue in operational existence for the foreseeable future being at least twelve months from the date of the financial statements. For this reason, they continue to adopt the going concern basis in preparing the financial statements as set out in the going concern section of the Directors' Report.
Turnover
Revenue is recognised at legal completion in respect of total proceeds of building and development. Revenue is measured at the fair value of consideration received or receivable and represents the amounts receivable for the property net of discounts and VAT.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Investment properties
Investment properties are measured at fair value annually with any change recognised in the profit and loss account. Unrealised gains or losses (net of related deferred tax) are transferred from retained earnings to a separate revaluation reserve.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks and work in progress, are valued at the lower of cost and estimated selling price less costs to complete and sell which is equivalent to the net realisable value. Costs comprise direct materials, direct labour costs and those overheads which have been incurred in bringing the stocks to their present location and condition. Management assesses the cost held and where required will book a provision against the stock. Properties held for sale, are stated at the lower of cost and net realisable value.
Capitalisation of borrowing costs
Borrowing costs on loans which are directly attributable to the construction of tangible assets are capitalised as part of the cost of those assets. The commencement of capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantively all the activities that are necessary to get the asset ready for use are complete.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Investments

Cost Investments in group undertakings   Other investments other than loans   Total
  £   £   £
At 01 October 2022    
Additions 100    58,500    58,600 
Transfer to/from tangible fixed assets    
Disposals    
At 30 September 2023 100    58,500    58,600 

4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Ordinary shares of £1.00 each 1,000    1,000 
1,000    1,000 

2