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COMPANY REGISTRATION NUMBER: 06660458
Urban Kings Limited
Filleted Unaudited Financial Statements
31 July 2023
Urban Kings Limited
Financial Statements
Year ended 31 July 2023
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
4
Urban Kings Limited
Officers and Professional Advisers
Director
H Haugnes
Company secretary
Complete Secretarial Solutions Limited
Registered office
727-729 High Road
London
N12 0BP
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Urban Kings Limited
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Urban Kings Limited
Year ended 31 July 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 July 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
29 July 2024
Urban Kings Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
355,710
355,710
Current assets
Cash at bank and in hand
5,792
8,431
Creditors: amounts falling due within one year
6
26,010
26,121
--------
--------
Net current liabilities
20,218
17,690
---------
---------
Total assets less current liabilities
335,492
338,020
Creditors: amounts falling due after more than one year
7
3,638,228
3,638,228
------------
------------
Net liabilities
( 3,302,736)
( 3,300,208)
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 3,302,836)
( 3,300,308)
------------
------------
Shareholders funds
( 3,302,736)
( 3,300,208)
------------
------------
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.
For the year ending 31 July 2023 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
H Haugnes
Director
Company registration number: 06660458
Urban Kings Limited
Notes to the Financial Statements
Year ended 31 July 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 727-729 High Road, N12 0BP, London.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 These accounts are not prepared on a going concern basis. Judgements and key sources of estimation uncertainty No significant judgements have had to be made by the directors in preparing these financial statements. Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses .
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Trademark
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property
-
6% straight line
Plant & Machinery
-
20% straight line
Fixtures & Fittings
-
20% straight line
Office Equipment
-
20% straight line
4. Intangible assets
Development costs
£
Cost
At 1 August 2022 and 31 July 2023
14,402
--------
Amortisation
At 1 August 2022 and 31 July 2023
14,402
--------
Carrying amount
At 31 July 2023
--------
At 31 July 2022
--------
5. Tangible assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 August 2022 and 31 July 2023
1,467,909
92,675
82,534
12,458
1,655,576
------------
--------
--------
--------
------------
Depreciation
At 1 August 2022 and 31 July 2023
1,123,158
82,422
82,115
12,171
1,299,866
------------
--------
--------
--------
------------
Carrying amount
At 31 July 2023
344,751
10,253
419
287
355,710
------------
--------
--------
--------
------------
At 31 July 2022
344,751
10,253
419
287
355,710
------------
--------
--------
--------
------------
No depreciation has been charged in the year as the assets were not in use .
6. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
25,210
25,321
Other creditors
800
800
--------
--------
26,010
26,121
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
3,638,228
3,638,228
------------
------------