LATERAL CITY LIMITED
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Cash
£642K
+192.6% vs 2024
Net assets
£15M
+8.3% highest in 4 filed years
Employees
89
+6% vs 2024
Profit before tax
£141K
-85.1% lowest in 4 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The financial statements have been prepared on the going concern basis, notwithstanding the net current liabilities of £37,461,032 (2024: £9,559,855) which the directors believe to be appropriate for the following reasons.
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
-
Going-concern uncertainty disclosed
Net assets
4-year trend · vs Consumer Discretionary median
Accounts
4-year trend · Δ = latest vs prior filed period · latest reflected 2025-06-30
| Metric | Trend | 2022-06-30 | 2023-06-30 | 2024-06-30 | 2025-06-30 | Δ vs prior |
|---|---|---|---|---|---|---|
| Turnover | — | £8,336,540 | £10,086,252 | £10,573,543 | +4.8% | |
| Operating profit | — | £2,414,357 | £3,164,586 | £1,979,892 | -37.4% | |
| Profit before tax | £198,222 | £602,051 | £949,616 | £141,317 | -85.1% | |
| Net profit | £215,865 | £707,756 | £583,820 | -£176,746 | -130.3% | |
| Cash | £692,109 | £325,125 | £219,290 | £641,735 | +192.6% | |
| Total assets less current liabilities | £38,134,991 | £45,166,714 | £46,325,730 | £21,485,968 | -53.6% | |
| Net assets | £12,556,774 | £13,538,543 | £14,122,363 | £15,290,297 | +8.3% | |
| Equity | £12,556,774 | £13,538,543 | £14,122,363 | £15,290,297 | +8.3% | |
| Average employees | 102 | 94 | 84 | 89 | +6% | |
| Wages | £1,187,143 | £1,807,173 | £1,931,743 | £2,095,802 | +8.5% | |
| Directors' remuneration | — | — | — | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2022-06-30 | 2023-06-30 | 2024-06-30 | 2025-06-30 |
|---|---|---|---|---|---|
| Operating margin | — | 29.0% | 31.4% | 18.7% | |
| Net margin | — | 8.5% | 5.8% | -1.7% | |
| Return on capital employed | — | 5.3% | 6.8% | 9.2% | |
| Gearing (liabilities / total assets) | — | 76.5% | 76.0% | — | |
| Current ratio | — | 0.20x | 0.24x | 0.07x | |
| Interest cover | — | 1.25x | 1.43x | 1.08x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- LATERAL CITY LIMITED 2013-10-22 → present
- URBANITE LIMITED 2013-06-21 → 2013-10-22
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Johnston Carmichael LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The financial statements have been prepared on the going concern basis, notwithstanding the net current liabilities of £37,461,032 (2024: £9,559,855) which the directors believe to be appropriate for the following reasons.”
Group structure
- LATERAL CITY LIMITED · parent
- Urbanite Investments Limited 100%
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MCDONALD, Trevor James | Director | 2026-01-08 | Dec 1977 | Irish |
| STEWART, Christopher John | Director | 2013-06-21 | Mar 1975 | British |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DAVIDSON CHALMERS STEWART (SECRETARIAL SERVICES) LIMITED | Corporate Secretary | 2013-06-21 | 2026-03-23 |
| AITON, Archie John | Director | 2013-06-21 | 2026-05-26 |
| ALLEN, Tessa Maxine Gilchrist | Director | 2022-08-05 | 2026-05-26 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Situs Asset Management Limited | Corporate entity | Shares 75–100% | 2018-07-18 | Ceased 2023-06-02 |
| Csg Hotels And Apartments Limited | Corporate entity | Voting 75–100%, Appoints directors | 2016-08-22 | Active |
Filing timeline
Last 20 of 107 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-23 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-06-09 | AA | accounts | Accounts with accounts type full | |
| 2026-05-26 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-26 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-07 | CH01 | officers | Change person director company with change date | |
| 2026-04-07 | CH01 | officers | Change person director company with change date | |
| 2026-04-07 | CH01 | officers | Change person director company with change date | |
| 2026-04-07 | CH01 | officers | Change person director company with change date | |
| 2026-04-07 | AD01 | address | Change registered office address company with date old address new address | |
| 2026-04-07 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2026-03-31 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-01-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-14 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-07-09 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-05-13 | CH01 | officers | Change person director company with change date | |
| 2025-04-11 | AA | accounts | Accounts with accounts type full | |
| 2024-12-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-23 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-22 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-20 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 14
- Capital events
- 1
- Officers appointed
- 1
- Officers resigned
- 3
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.