Urban Quarters (Rentals) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10584734 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

Urban Quarters (Rentals) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N Aitken

REGISTERED OFFICE:

1 Mildrose Court

16-19 Malvern Mews

London

NW6 5PT

REGISTERED NUMBER:

10584734 (England and Wales)

ACCOUNTANTS:

Christopher Bailey

Yoden House

30 Yoden Way

Peterlee

Co. Durham

SR8 1AL

FIXED ASSETS

Investment property

4

860,000

850,000

CURRENT ASSETS

Debtors

5

1

1

Cash at bank

3,989

-

3,990

1

CREDITORS

Amounts falling due within one year

6

(6,232

)

(1,516

)

NET CURRENT LIABILITIES

(2,242

)

(1,515

)

TOTAL ASSETS LESS CURRENT LIABILITIES

857,758

848,485

CREDITORS

Amounts falling due after more than one year

7

(762,885

)

(750,000

)

PROVISIONS FOR LIABILITIES

(20,900

)

(19,000

)

NET ASSETS

73,973

79,485

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

73,972

79,484

SHAREHOLDERS' FUNDS

73,973

79,485

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director on 24 March 2020 and were signed by:

N Aitken - Director

1.	STATUTORY INFORMATION

Urban Quarters (Rentals) Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2018

850,000

Revaluations

10,000

At 30 June 2019

860,000

NET BOOK VALUE

At 30 June 2019

860,000

At 30 June 2018

850,000

Fair value at 30 June 2019 is represented by:

£

Valuation in 2018

850,000

Valuation in 2019

10,000

860,000

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.19

30.6.18

£

£

Amounts owed by group undertakings

1

1

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Bank loans and overdrafts

-

1,516

Other creditors

6,232

-

6,232

1,516

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.19

30.6.18

£

£

Bank loans

637,885

500,000

Amounts owed to group undertakings

125,000

250,000

762,885

750,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.19

30.6.18

£

£

Mortgage

637,885

500,000