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Company registration number: 07775284
Urban Design & Developments (Holdings) Limited
Unaudited filleted financial statements
31 December 2021
Urban Design & Developments (Holdings) Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Urban Design & Developments (Holdings) Limited
Directors and other information
Director Mr Patrick Ellis Dawson
Company number 07775284
Registered office Units 4/5 Incomol Business Park
Derby Road
Clay Cross
Chesterfield
S45 9AG
Accountants Dey & Co.
Brookdale
41 Clarence Road
Chesterfield
Derbyshire
S40 1LH
Urban Design & Developments (Holdings) Limited
Statement of financial position
31 December 2021
2021 2020
Note £ £ £ £
Fixed assets
Investments 4 1,669,777 1,669,777
_______ _______
1,669,777 1,669,777
Current assets
Debtors 5 816,920 1,164,724
Cash at bank and in hand 32,783 218,075
_______ _______
849,703 1,382,799
Creditors: amounts falling due
within one year 6 ( 17,386) ( 53,214)
_______ _______
Net current assets 832,317 1,329,585
_______ _______
Total assets less current liabilities 2,502,094 2,999,362
_______ _______
Net assets 2,502,094 2,999,362
_______ _______
Capital and reserves
Called up share capital 9,011 13,864
Capital redemption reserve 4,853 -
Profit and loss account 2,488,230 2,985,498
_______ _______
Shareholders funds 2,502,094 2,999,362
_______ _______
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 June 2022 , and are signed on behalf of the board by:
Mr Patrick Ellis Dawson
Director
Company registration number: 07775284
Urban Design & Developments (Holdings) Limited
Notes to the financial statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Units 4/5 Incomol Business Park, Derby Road, Clay Cross, Chesterfield, S45 9AG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 January 2021 and 31 December 2021 1,669,777 1,669,777
_______ _______
Impairment
At 1 January 2021 and 31 December 2021 - -
_______ _______
Carrying amount
At 31 December 2021 1,669,777 1,669,777
_______ _______
At 31 December 2020 1,669,777 1,669,777
_______ _______
5. Debtors
2021 2020
£ £
Trade debtors 288,360 73,260
Amounts owed by group undertakings and undertakings in which the company has a participating interest 528,560 1,059,564
Other debtors - 31,900
_______ _______
816,920 1,164,724
_______ _______
6. Creditors: amounts falling due within one year
2021 2020
£ £
Corporation tax - 38,380
Social security and other taxes 17,074 14,524
Other creditors 312 310
_______ _______
17,386 53,214
_______ _______
7. Related party transactions
The company has taken advantage of the exemption provided by Paragraph 33.1A of FRS 102 that says disclosures need not be given of transactions that have taken place between group members.
8. Controlling party
The company is controlled by Patrick Ellis Dawson, a director of the company, and his wife Katie Dawson.