Company registration number 09332275 (England and Wales)
URBAN LEISURE (EM) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
URBAN LEISURE (EM) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
URBAN LEISURE (EM) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
162,062
211,058
Current assets
Stocks
19,470
10,212
Debtors
4
68,738
53,516
Cash at bank and in hand
-
0
140,234
88,208
203,962
Creditors: amounts falling due within one year
5
(334,739)
(166,779)
Net current (liabilities)/assets
(246,531)
37,183
Total assets less current liabilities
(84,469)
248,241
Creditors: amounts falling due after more than one year
6
(1,065,413)
(1,408,619)
Provisions for liabilities
(8,362)
(11,808)
Net liabilities
(1,158,244)
(1,172,186)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(1,158,344)
(1,172,286)
Total equity
(1,158,244)
(1,172,186)

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 (EM) 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 09332275 (England and Wales)
URBAN LEISURE (EM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Urban Leisure (EM) 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 a 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 drink 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
Development costs
20% Straight line
Fixtures, fittings & equipment
25% Reducing balance
Computer equipment
33.33% 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
Taxation

The tax expense represents the sum of deferred tax.

1.6
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.

URBAN LEISURE (EM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees

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

2023
2022
Number
Number
Total
19
13
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
533,753
317,145
850,898
Additions
-
0
8,452
8,452
At 31 December 2023
533,753
325,597
859,350
Depreciation and impairment
At 1 January 2023
369,926
269,914
639,840
Depreciation charged in the year
44,024
13,424
57,448
At 31 December 2023
413,950
283,338
697,288
Carrying amount
At 31 December 2023
119,803
42,259
162,062
At 31 December 2022
163,827
47,231
211,058
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
10,996
1,948
Other debtors
57,742
51,568
68,738
53,516
URBAN LEISURE (EM) 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
8,934
-
0
Trade creditors
103,692
48,872
Taxation and social security
87,792
61,341
Other creditors
134,321
56,566
334,739
166,779
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
1,065,413
1,408,619
7
Financial commitments, guarantees and contingent liabilities

National Westminster Bank Plc hold a fixed and floating charge on all property undertakings of the company.

8
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
£
£
279,030
384,375
9
Related party transactions

At the year end the company owed £1,065,413 (2022 - £1,408,619) to 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 £128,822 (2022 - £58,423) were charged by Urban Leisure (QP) Limited, a company owned by the parent company, Urban Leisure Holdings Limited.

 

 

10
Parent company

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

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