Company registration number 05929829 (England and Wales)
URBAN LEISURE (WEST HAMPSTEAD) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
URBAN LEISURE (WEST HAMPSTEAD) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
URBAN LEISURE (WEST HAMPSTEAD) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
66,790
90,100
Current assets
Stocks
18,049
13,040
Debtors
4
647,235
511,983
Cash at bank and in hand
-
0
137,724
665,284
662,747
Creditors: amounts falling due within one year
5
(169,836)
(152,685)
Net current assets
495,448
510,062
Total assets less current liabilities
562,238
600,162
Provisions for liabilities
(9,075)
(9,482)
Net assets
553,163
590,680
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
553,063
590,580
Total equity
553,163
590,680

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
H Yechiel
Director
Company registration number 05929829 (England and Wales)
URBAN LEISURE (WEST HAMPSTEAD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Urban Leisure (West Hampstead) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Leman Street, London, United Kingdom, E1W 9US.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This depends on the continued support of the directors and shareholders and the directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for sale of bar food, drinks and room hire provided in the normal course of business, and is shown net of VAT where applicable.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
Over the length of the lease
Plant and machinery
15% Reducing balance
Fixtures, fittings & equipment
25% Reducing balance
Computer Equipment
20% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

URBAN LEISURE (WEST HAMPSTEAD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.6
Taxation

The tax expense represents deferred tax.

1.7
Government grants

Government grants receivable recognise contributions to expenses received from the government Job Retention Scheme (JRS) set up to assist companies during the covid pandemic.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was

2023
2022
Number
Number
Total
13
11
URBAN LEISURE (WEST HAMPSTEAD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
216,123
223,808
439,931
Additions
-
0
2,913
2,913
At 31 December 2023
216,123
226,721
442,844
Depreciation and impairment
At 1 January 2023
172,640
177,191
349,831
Depreciation charged in the year
17,628
8,595
26,223
At 31 December 2023
190,268
185,786
376,054
Carrying amount
At 31 December 2023
25,855
40,935
66,790
At 31 December 2022
43,483
46,617
90,100
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
23
Other debtors
77,590
79,200
77,590
79,223
2023
2022
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
569,645
432,760
Total debtors
647,235
511,983
URBAN LEISURE (WEST HAMPSTEAD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
3,191
-
0
Trade creditors
76,370
56,340
Taxation and social security
54,320
72,218
Other creditors
35,955
24,127
169,836
152,685
6
Financial commitments, guarantees and contingent liabilities

National Westminster Bank Plc holds a fixed and floating charge over the property undertakings of the company.

7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
338,462
400,000
8
Related party transactions

At the year end the company was owed £569,645 (2022 - £432,760) by Urban Leisure Holdings Limited, the parent company, in respect of an interest free loan which is repayable on demand.

 

During the year management charges of £80,308 (2022 - £43,820) were charged by Urban Leisure (QP) Limited, another direct subsidiary of the parent company, Urban Leisure Holdings Limited.

9
Parent company

The parent company of Urban Leisure (West Hampstead) Limited is Urban Leisure Holdings Limited and its registered office is 2 Leman Street, London, United Kingdom, E1W 9US.

 

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