Company registration number 06522810 (England and Wales)
URBAN LEISURE (NW6) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
URBAN LEISURE (NW6) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
URBAN LEISURE (NW6) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
106,336
94,702
Current assets
Stocks
15,523
18,210
Debtors
4
1,331,016
2,476,967
Cash at bank and in hand
46,634
200
1,393,173
2,495,377
Creditors: amounts falling due within one year
5
(402,620)
(1,430,120)
Net current assets
990,553
1,065,257
Total assets less current liabilities
1,096,889
1,159,959
Creditors: amounts falling due after more than one year
6
(299,127)
(399,359)
Provisions for liabilities
(18,873)
(15,129)
Net assets
778,889
745,471
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
778,789
745,371
Total equity
778,889
745,471
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.
URBAN LEISURE (NW6) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
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 06522810 (England and Wales)
URBAN LEISURE (NW6) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Urban Leisure (NW6) 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 food and drinks 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
33% Straight line method
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 (NW6) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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 year was
2023
2022
Number
Number
Total
24
25
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
241,729
369,153
610,882
Additions
1,880
28,721
30,601
At 31 December 2023
243,609
397,874
641,483
Depreciation and impairment
At 1 January 2023
224,594
291,586
516,180
Depreciation charged in the year
1,380
17,587
18,967
At 31 December 2023
225,974
309,173
535,147
Carrying amount
At 31 December 2023
17,635
88,701
106,336
At 31 December 2022
17,135
77,567
94,702
URBAN LEISURE (NW6) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
250
Other debtors
33,748
26,166
33,748
26,416
2023
2022
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
1,297,268
2,450,551
Total debtors
1,331,016
2,476,967
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
16,135
657,966
Trade creditors
122,662
63,876
Taxation and social security
184,510
323,572
Other creditors
79,313
384,706
402,620
1,430,120
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Taxation and social security
299,127
399,359
7
Financial commitments, guarantees and contingent liabilities
National Westminster Bank Plc holds a fixed and floating charge over the property undertakings of the company.
8
Related party transactions
At the year end the company was owed £1,297,265 (2022 - £2,450,551) by Urban Leisure Holdings Limited, the parent company, in respect of an interest free loan which is repayable on demand.
During the year management fees of £146,649 (2022- £73,164) were charged by Urban Leisure (QP) Limited, another direct subsidiary of the parent company, Urban Leisure Holdings Limited.
URBAN LEISURE (NW6) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
9
Parent company
The parent company of Urban Leisure (NW6) Limited is Urban Leisure Holdings Limited and its registered office is 2 Leman Street, London, United Kingdom, E1W 9US.