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REGISTERED NUMBER: 10868373 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 January 2023

for

Urban Creation (Park Street) Limited

Urban Creation (Park Street) Limited (Registered number: 10868373)






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 Street) 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: 10868373 (England and Wales)





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

Urban Creation (Park Street) Limited (Registered number: 10868373)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,369 71,158
Investments 5 100 100
Investment property 6 3,390,000 3,580,000
3,443,469 3,651,258

CURRENT ASSETS
Debtors 7 2,489 56,515
Cash at bank 17,062 9,804
19,551 66,319
CREDITORS
Amounts falling due within one year 8 88,059 855,937
NET CURRENT LIABILITIES (68,508 ) (789,618 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,374,961 2,861,640

CREDITORS
Amounts falling due after more than one year 9 3,817,563 3,158,194
NET LIABILITIES (442,602 ) (296,554 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (442,702 ) (296,654 )
SHAREHOLDERS' FUNDS (442,602 ) (296,554 )

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 Street) Limited (Registered number: 10868373)

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 Street) Limited (Registered number: 10868373)

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

1. STATUTORY INFORMATION

Urban Creation (Park Street) 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.

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The director has confirmed that the creditors will continue to support the company. To this end, the going concern is considered to be an appropriate basis on which to prepare these accounts.

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.

Revenue is recognised evenly over the rental period.

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.


Urban Creation (Park Street) Limited (Registered number: 10868373)

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

2. ACCOUNTING POLICIES - continued
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 NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 140,002 80,191 220,193
DEPRECIATION
At 1 February 2022 95,705 53,330 149,035
Charge for year 11,074 6,715 17,789
At 31 January 2023 106,779 60,045 166,824
NET BOOK VALUE
At 31 January 2023 33,223 20,146 53,369
At 31 January 2022 44,297 26,861 71,158

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

Urban Creation (Park Street) Limited (Registered number: 10868373)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 3,580,000
Revaluations (190,000 )
At 31 January 2023 3,390,000
NET BOOK VALUE
At 31 January 2023 3,390,000
At 31 January 2022 3,580,000

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2020 258,852
Valuation in 2021 (460,503 )
Valuation in 2023 (190,000 )
Cost 3,781,651
3,390,000

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 - 55,018
Prepayments 2,489 1,497
2,489 56,515

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
VAT 1,699 869
Other creditors 68,946 846,349
Accruals and deferred income 17,414 8,719
88,059 855,937

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.23 31.1.22
£    £   
Other creditors 3,817,563 3,158,194

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 50 Park Street, Bristol.

Urban Creation (Park Street) Limited (Registered number: 10868373)

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

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

12. RESERVES
Retained
earnings
£   

At 1 February 2022 (296,654 )
Deficit for the year (146,048 )
At 31 January 2023 (442,702 )

13. RELATED PARTY DISCLOSURES

During the year, management charges totalling £20,043 (2022: £18,793) were incurred, and due to Urban Creation Limited. This is a company under common control but not within the Group.

At the year end, £56,159 (2022: £31,878) was owed to Urban Creation Limited.