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REGISTERED NUMBER: 10868401 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 January 2023

for

Urban Creation (Park Avenue) Limited

Urban Creation (Park Avenue) Limited (Registered number: 10868401)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Urban Creation (Park Avenue) Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: J Brecknell





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY





REGISTERED NUMBER: 10868401 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Urban Creation (Park Avenue) Limited (Registered number: 10868401)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,742 116,989
Investments 5 100 100
Investment property 6 2,430,000 2,515,000
2,517,842 2,632,089

CURRENT ASSETS
Debtors 7 241,510 302,617
Cash at bank 17,313 8,972
258,823 311,589
CREDITORS
Amounts falling due within one year 8 19,694 476,154
NET CURRENT ASSETS/(LIABILITIES) 239,129 (164,565 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,756,971 2,467,524

CREDITORS
Amounts falling due after more than one year 9 (2,452,810 ) (2,089,275 )

PROVISIONS FOR LIABILITIES (106,638 ) (96,930 )
NET ASSETS 197,523 281,319

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 197,423 281,219
SHAREHOLDERS' FUNDS 197,523 281,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Urban Creation (Park Avenue) Limited (Registered number: 10868401)

Balance Sheet - continued
31 January 2023


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 and authorised for issue on 18 October 2023 and were signed by:





J Brecknell - Director


Urban Creation (Park Avenue) Limited (Registered number: 10868401)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Urban Creation (Park Avenue) Limited 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company is wholly owned by Urban Creation Management Limited.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rental income recognised over the period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Urban Creation (Park Avenue) Limited (Registered number: 10868401)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 9,415 333,874 343,289
DEPRECIATION
At 1 February 2022 5,443 220,857 226,300
Charge for year 993 28,254 29,247
At 31 January 2023 6,436 249,111 255,547
NET BOOK VALUE
At 31 January 2023 2,979 84,763 87,742
At 31 January 2022 3,972 113,017 116,989

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2022
and 31 January 2023 100
NET BOOK VALUE
At 31 January 2023 100
At 31 January 2022 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 2,515,000
Revaluations (85,000 )
At 31 January 2023 2,430,000
NET BOOK VALUE
At 31 January 2023 2,430,000
At 31 January 2022 2,515,000

Urban Creation (Park Avenue) Limited (Registered number: 10868401)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2020 773,823
Valuation in 2022 (263,668 )
Valuation in 2023 (85,000 )
Cost 2,004,845
2,430,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.1.23 31.1.22
£    £   
Cost 2,004,845 2,004,845

The investment property was valued on an open market basis on 31 January 2023 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Other debtors 238,808 300,623
Prepayments and accrued income 2,702 1,994
241,510 302,617

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
VAT 2,000 2,000
Other creditors 8,982 469,625
Accrued expenses 8,712 4,529
19,694 476,154

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.23 31.1.22
£    £   
Other creditors 2,452,810 2,089,275

10. SECURED DEBTS

A loan within the Group is secured on a fixed and floating charge over the assets of the company, with a specific charge on the property known as 76 Park Street, Bristol.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Ordinary £1 100 100

Urban Creation (Park Avenue) Limited (Registered number: 10868401)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

12. RESERVES
Retained
earnings
£   

At 1 February 2022 281,219
Deficit for the year (83,796 )
At 31 January 2023 197,423

The company has non-distributable reserves totalling £318,866.

13. RELATED PARTY DISCLOSURES

During the year, management charges totalling £11,691 (2022: £12,139) were incurred, and due to Urban Creation Limited. This is a company under common control but not within the Group.

At the year end, £238,808 (2022: £251,268) was owed by Urban Creation Limited to Urban Creation (Park Avenue) Limited.