Company registration number 07934041 (England and Wales)
URBAN LEISURE (MV) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
URBAN LEISURE (MV) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
URBAN LEISURE (MV) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
78,609
93,546
Current assets
Stocks
15,601
18,851
Debtors
4
138,169
59,187
Cash at bank and in hand
7,887
106,067
161,657
184,105
Creditors: amounts falling due within one year
5
(338,681)
(219,178)
Net current liabilities
(177,024)
(35,073)
Total assets less current liabilities
(98,415)
58,473
Creditors: amounts falling due after more than one year
6
(56,976)
(307,843)
Provisions for liabilities
(10,546)
(12,680)
Net liabilities
(165,937)
(262,050)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(166,037)
(262,150)
Total equity
(165,937)
(262,050)

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 (MV) 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 07934041 (England and Wales)
URBAN LEISURE (MV) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Urban Leisure (MV) 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 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%,15% 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
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 (MV) 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.

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 unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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 year was

 

2023
2022
Number
Number
Total
22
18
URBAN LEISURE (MV) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
195,332
330,383
525,715
Additions
-
0
5,292
5,292
At 31 December 2023
195,332
335,675
531,007
Depreciation and impairment
At 1 January 2023
180,199
251,970
432,169
Depreciation charged in the year
2,929
17,300
20,229
At 31 December 2023
183,128
269,270
452,398
Carrying amount
At 31 December 2023
12,204
66,405
78,609
At 31 December 2022
15,133
78,413
93,546
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
33
1,432
Other debtors
75,430
57,755
75,463
59,187
2023
2022
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
62,706
-
0
Total debtors
138,169
59,187
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
80,831
56,194
Taxation and social security
93,962
80,038
Other creditors
163,888
82,946
338,681
219,178
URBAN LEISURE (MV) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
56,976
307,843
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
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
£
£
306,250
411,250
9
Related party transactions

At the year end, the company was owed £62,706 (2022 - £237,843 owed to) 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 £154,731 (2022 - £61,957) were charged by Urban Leisure (QP) Limited, another direct subsidiary of the parent company, Urban Leisure Holdings Limited.

10
Parent company

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

2023-12-312023-01-01falseCCH SoftwareCCH Accounts Production 2024.100No description of principal activityD KattanH Yechielfalsefalse079340412023-01-012023-12-31079340412023-12-31079340412022-12-3107934041core:LandBuildings2023-12-3107934041core:OtherPropertyPlantEquipment2023-12-3107934041core:LandBuildings2022-12-3107934041core:OtherPropertyPlantEquipment2022-12-3107934041core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3107934041core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3107934041core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3107934041core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3107934041core:CurrentFinancialInstruments2023-12-3107934041core:CurrentFinancialInstruments2022-12-3107934041core:ShareCapital2023-12-3107934041core:ShareCapital2022-12-3107934041core:RetainedEarningsAccumulatedLosses2023-12-3107934041core:RetainedEarningsAccumulatedLosses2022-12-3107934041bus:Director22023-01-012023-12-3107934041core:LandBuildingscore:LongLeaseholdAssets2023-01-012023-12-3107934041core:PlantMachinery2023-01-012023-12-3107934041core:FurnitureFittings2023-01-012023-12-3107934041core:ComputerEquipment2023-01-012023-12-31079340412022-01-012022-12-3107934041core:LandBuildings2022-12-3107934041core:OtherPropertyPlantEquipment2022-12-31079340412022-12-3107934041core:LandBuildings2023-01-012023-12-3107934041core:OtherPropertyPlantEquipment2023-01-012023-12-3107934041core:WithinOneYear2023-12-3107934041core:WithinOneYear2022-12-3107934041core:Non-currentFinancialInstruments2023-12-3107934041core:Non-currentFinancialInstruments2022-12-3107934041bus:PrivateLimitedCompanyLtd2023-01-012023-12-3107934041bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107934041bus:FRS1022023-01-012023-12-3107934041bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3107934041bus:Director12023-01-012023-12-3107934041bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP