Registered number
15512325
Ure Commercial Ltd
Accounts
For the period from 22 February 2024 to 31 December 2024
delivered to the Registrar of Companies under section 444 of the Companies Act 2006
Ure Commercial Ltd
Registered number: 15512325
Balance Sheet
As at 31 December 2024
Notes 2024
£
Fixed assets
Investment properties 4 758,088
Current assets
Debtors 5 12,349
Cash at bank 368,557
380,906
Creditors: amounts falling due within one year 6 (1,028,649)
Net current liabilities (647,743)
Total assets less current liabilities 110,345
Provision for deferred tax liabilities (26,475)
Net assets 83,870
Capital and reserves
Share capital 7 100
Fair value reserve 8 79,426
Retained earnings 4,344
Shareholder's funds 83,870
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The company has taken the option not to deliver a profit and loss account to the Registrar of Companies.
Zafer M Ure
Director
Approved by the board on 25 March 2025
Ure Commercial Ltd
Notes to the Accounts
For the period from 22 February 2024 to 31 December 2024
1 Company information
The company is a private company limited by shares, incorporated in England and registered at 32 Mere View Industrial Estate, Yaxley, Peterborough, PE7 3HS.
2 Accounting policies
2.1 Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the Standard).
2.2 Going concern
The accounts have been prepared on the going concern basis. Based on a review of the company's forecasts for the following 2 years and the availability of financial resources the directors consider that the company will continue to be able to meet its liabilities as they fall due for at least 12 months from the date of their approval of these accounts.
2.3 Functional and presentation currency
The company's functional and presentation currency is Pound sterling ("£").
2.4 Property income
Property income is measured at the fair value of the rents and other property income receivable, net of discounts and value added taxes. Property income is recognised over the period to which it relates.
2.5 Investment properties
Investment properties are measured at fair value at each reporting date with any changes in fair value recognised in the fair value reserve. Fair value is ascertained by an open market valuation on freehold basis, conducted annually by the directors.
2.6 Debtors
Short term debtors are measured at transaction price less any impairment losses for bad and doubtful debts. Longer term loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.7 Creditors
Short term creditors are measured at transaction price. Longer term loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.8 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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the accounts and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for investment properties where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.9 Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount, in which case the impairment loss is a revaluation decrease.
3 Employees 2024
Number
Average number of persons employed -
4 Investment properties
£
Fair value
Additions 652,187
Gain in fair value 105,901
At 31 December 2024 758,088
5 Debtors 2024
£
Trade debtors 8,382
Other debtors 3,967
12,349
6 Creditors: amounts falling due within one year 2024
£
Amounts owed to group undertakings 999,900
Taxation and social security 2,624
Other creditors 26,125
1,028,649
7 Share capital 2024
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each 100
8 Fair value reserve 2024
£
Gain in fair value of investment properties 105,901
Deferred tax charge on change in fair value (26,475)
At 31 December 2024 79,426
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