COMPANY REGISTRATION NUMBER:
13805273
|
Filleted Unaudited Financial Statements |
|
Year ended 31 December 2024
|
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
|
|
|
Statement of financial position |
2 |
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|
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Notes to the financial statements |
3 |
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Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Intra Urban Land Limited |
|
Year ended 31 December 2024
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 Land Limited for the year ended 31 December 2024, 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 Land Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Intra Urban Land 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 Land 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 Land 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 Land Limited. You consider that Intra Urban Land 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 Intra Urban Land 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
29 September 2025
|
Statement of Financial Position |
|
31 December 2024
Current assets
|
Debtors |
5 |
480,922 |
|
884,362 |
|
Cash at bank and in hand |
80,505 |
|
2,790 |
|
--------- |
|
--------- |
|
561,427 |
|
887,152 |
|
|
|
|
|
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Creditors: amounts falling due within one year |
6 |
759,105 |
|
980,527 |
|
--------- |
|
--------- |
|
Net current liabilities |
|
197,678 |
93,375 |
|
|
--------- |
-------- |
|
Total assets less current liabilities |
|
(
197,678) |
(
93,375) |
|
|
--------- |
-------- |
|
Net liabilities |
|
(
197,678) |
(
93,375) |
|
|
--------- |
-------- |
|
|
|
|
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Capital and reserves
|
Called up share capital |
|
100 |
100 |
|
Profit and loss account |
|
(
197,778) |
(
93,475) |
|
|
--------- |
-------- |
|
Shareholders deficit |
|
(
197,678) |
(
93,375) |
|
|
--------- |
-------- |
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|
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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
29 September 2025
, and are signed on behalf of the board by:
Company registration number:
13805273
|
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 130 Brixton Hill, London, SW2 1RS, 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.
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 in order to continue in operational existence and meet its liabilities as they fall due. The directors are satisfied that they will continue to support the company and as such the going concern basis is appropriate for the preparation of the accounts.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
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 and of Value Added Tax.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
1
).
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Other debtors |
480,922 |
884,362 |
|
--------- |
--------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Accruals and deferred income |
11,267 |
6,064 |
|
Social security and other taxes |
118,128 |
70,963 |
|
Director loan accounts |
475,710 |
749,500 |
|
Other creditors |
154,000 |
154,000 |
|
--------- |
--------- |
|
759,105 |
980,527 |
|
--------- |
--------- |
|
|
|
7.
Related party transactions
At the year end, £475,710 was due by the company payable to key management personnel (2023 - £749,500). There is also £154,000 due by the company to a related party (2023 - £154,000). These loans are interest free, unsecured and repayable by demand. At the year end, £480,922 was due by companies under common control (2023 - £884,362). The loans are interest free, unsecured and repayable by demand.
8.
Controlling party
The company was under the control of the directors throughout the current year and previous period by virtue of their shareholdings.