URBAN ORIGIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023
Urban Origin Limited (the "Company") is a private company limited by shares, incorporated and registered in England & Wales in the UK. The registered number is 08201483 and the registered address is 1 Smithy
Court, Smithy Brook Road, Wigan, Lancashire, WN3 6PS.
The prinicipal activity of the company was a holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The financial statements are prepared in sterling, which is the functional currency of the entity.
The comparative information in the accounts is unaudited as the company applied their entitlement to exemption from audit in the year ended 31 December 2021.
The following principal accounting policies have been applied:
The current accounting period has been extended to 13 months to align with the year-end of other
group companies. As such the comparative amounts presented in the financial statements (including
the related notes) are not entirely comparable.
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
The financial statements have been prepared on the basis that the company can continue to operate as a going concern.
The directors are of the opinion, based on forecasts prepared, that the company has adequate working capital to execute its operations over the next 12 months, from the date of approval of the accounts, and comply with the terms and conditions of its bank facilities.
Having regard to the above, the Directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements.
Investments in subsidiaries are measured at cost less accumulated impairment.
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