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COMPANY REGISTRATION NUMBER: 12240672
Urban Projects (North Lane) Limited
Filleted Unaudited Financial Statements
31 December 2024
Urban Projects (North Lane) Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Urban Projects (North Lane) Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Investments
5
714,088
714,088
Current assets
Cash at bank and in hand
60
60
Creditors: amounts falling due within one year
6
714,088
714,088
---------
---------
Net current liabilities
714,028
714,028
---------
---------
Total assets less current liabilities
60
60
----
----
Capital and reserves
Called up share capital
60
60
----
----
Shareholders funds
60
60
----
----
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 income and retained earnings has not been delivered.
For the year ending 31 December 2024 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 year 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 25 March 2025 , and are signed on behalf of the board by:
R D Foxley
Director
Company registration number: 12240672
Urban Projects (North Lane) Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
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.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the directors.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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 account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Investments
Shares in group undertakings
£
Cost
At 1 January 2024 and 31 December 2024
714,088
---------
Impairment
At 1 January 2024 and 31 December 2024
---------
Carrying amount
At 31 December 2024
714,088
---------
At 31 December 2023
714,088
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
652,219
652,219
Other creditors
61,869
61,869
---------
---------
714,088
714,088
---------
---------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.
7. Related party transactions
At the year end the company owed the directors £61,869 (2023: £61,869).