LATERAL CITY LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +21%

  £8,336,540 → £10,086,252

• Cash

  -32.6%

  £325,125 → £219,290

• Net assets

  +4.3%

  £13,538,543 → £14,122,363

• Employees

  -10.6%

  94 → 84

• Operating profit

  +31.1%

  £2,414,357 → £3,164,586

• Profit before tax

  +57.7%

  £602,051 → £949,616

• Wages

  +6.9%

  £1,807,173 → £1,931,743

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

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.

1. LATERAL CITY LIMITED 2013-10-22 → present
2. URBANITE LIMITED 2013-06-21 → 2013-10-22

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Johnston Carmichael LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“We have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. LATERAL CITY LIMITED · parent
   1. Urbanite Investments Limited 100% · Scotland · Non-trading

Significant events

• “In January 2024 the restaurant at Roxburgh Court closed and the space converted into further apartments to add to the Old Town Chambers offering. The works completed in August 2024, taking the total number of apartments to 91 (including the accommodation at Abbey Strand).”
• “On 17 December 2024, by way of special resolution, the company capitalised an amount equal to £10,500,000 standing to credit on the company's revaluation reserve, applying this amount in paying up, in full, the issue of 10,500,000 Ordinary shares of £1 each.”
• “On the same date, by way of a special resolution supported by a directors' solvency statement, the company reduced its Ordinary share capital from 10,500,001 Ordinary shares of £1 each to 1 Ordinary share of £1 each and applied the amount by which the Ordinary share capital was reduced to the company's profit and loss reserves.”
• “On 18 December 2024, the company together with certain group and related party undertakings entered into a revised group facility agreement with RBS which provided available facilities of £84.55m. The company's allocation of the group facility provides access to £57.85m of term loan and revolving credit facilities alongside other facility participants. The facility is available to June 2028.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

11

last 12 months

Capital events

3

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.