Company registration number: 12094723

 

 

 

 

 

 

 

 

 

 

 

 

Urban High London Ltd

 

Filleted Unaudited financial statements

 

31 May 2023

Urban High London Ltd

Contents

 

 

Page

 

 

Directors and other information

3

 

 

Directors report

4

 

 

Statement of financial position

5-6

 

 

Notes to the financial statements

7-9

Urban High London Ltd

Directors and other information

 

Directors

O Kisacikoglu

 

 

Company number

12094723

 

 

Registered office

Lynton House

 

7-12 Tavistock Square

 

London

 

WC1H 9LT

Urban High London Ltd

Directors report

Year ended 31 May 2023

 

The director presents his report and the unaudited financial statements of the company for the year ended 31 May 2023.

 

Directors

The director who served the company during the year was as follows:

 

O Kisacikoglu

 

Small companies provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

 

This report was approved by the board of directors on the 15th February 2024 and signed on behalf of the board by:

 

 

 

 

O Kisacikoglu

Director

Urban High London Ltd

Statement of financial position

31 May 2023

 

 

 

31.05.2023

31.05.2022

 

 

 

 

 

 

 

Note

£

£

£

£

 

 

 

 

 

 

Current assets

 

 

 

 

 

Debtors

5

118,100

 

162,202

 

Cash at bank and in hand

 

13,325

 

18,414

 

 

 

 

 

 

 

 

 

131,425

 

180,616

 

Creditors: amounts falling due within one year

6

(855,379)

 

(771,434)

 

 

 

 

 

 

 

Net current assets

 

 

(723,954)

 

(590,818)

 

 

 

 

 

 

Total assets less current liabilities

 

 

(723,954)

 

(590,818)

 

 

 

 

 

 

Capital and reserves

 

 

 

 

 

Called up share capital

 

 

100

 

100

Profit and loss account

 

 

(724,054)

 

(590,918)

 

 

 

 

 

 

Shareholders deficit

 

 

(723,954)

 

(590,818)

 

For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Directors' responsibilities:

The shareholders have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

 

The notes on pages 5 to 7 form part of these financial statements.

Urban High London Ltd

Statement of financial position (continued)

31 May 2023

 

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with 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 income and retained earnings has not been delivered.

 

These financial statements were approved by the board of directors and authorised for issue on the 15th February 2024 and are signed on behalf of the board by:

 

 

 

 

O Kisacikoglu

 

Director

 

Company registration number: 12094723

 

The notes on pages 5 to 7 form part of these financial statements.

Urban High London Ltd

Notes to the financial statements

Year ended 31 May 2023

 

1.     General information

 

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9LT.

 

2.     Statement of compliance

 

These financial statements have been prepared in compliance with the provisions of FRS102, Section 1A, ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

 

3.     Accounting policies

 

Basis of preparation

The financial statements have been prepared on the historical cost basis.

 

The financial statements are prepared in sterling, which is the functional currency of the entity.

 

Going concern

At the balance sheet date, the reporting entity had net liability in the sum of £723,954 (2022: £590,818). The company is reliant on the support of the creditors. On the basis that the creditors will continue to support the reporting entity for the foreseeable future, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of the creditors.

true

 

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.

 

No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.

Urban High London Ltd

Notes to the financial statements

Year ended 31 May 2023

 

3.     Accounting policies (continued)

 

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.

 

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.

 

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

 

Revenue

Revenue is recognised when the company satisfies its performance obligations in line with the terms of the contract.

 

4.     Employee numbers

 

The average number of persons employed by the company during the year (including directors) amounted to 3.

 

5.     Debtors

 

 

Note

2023

2022

 

 

£

£

Amounts owed by related companies

5.1

118,000

162,000

Other debtors

 

100

100

Prepayments

 

-

102

 

 

 

 

 

 

118,100

162,202

 

5.1     Amounts owed by related companies are interest free.

Urban High London Ltd

Notes to the financial statements

Year ended 31 May 2023

 

6.     Creditors: amounts falling due within one year

 

 

2023

2022

 

£

£

Amounts owing to related company

849,000

769,000

Other creditors

4,879

934

Accruals

1,500

1,500

 

 

 

 

855,379

771,434

 

6.1     Amounts owing to related company are interest free.

 

7.     Related party balances and transactions

 

Information on balances due by/to related parties is set out in notes 5 and 6 to these financial statements.

 

Related party transactions

 

 

Transaction value

 

For the year/period ended

 

31 May

 

 

 

 

2023

2022

 

£

£

 

 

 

Income

 

 

Consultancy fees charged to related companies

81,000

81,000

 

 

 

Financing transactions

 

 

Amounts owing to related company

(80,000)

(207,000)