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Urbanbridge Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 November 2023

Registration number: 04191281

 

Urbanbridge Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Urbanbridge Limited

Company Information

Directors

Mr A Trump

Mrs J Trump

Registered office

Vici House
2 Mallard Road
Sowton
Exeter
Devon
EX2 7LD

Accountants

Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

 

Urbanbridge Limited

Balance Sheet

30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

820,000

820,000

Current assets

 

Debtors

5

52,504

71,427

Cash at bank and in hand

 

12,061

13,974

 

64,565

85,401

Creditors: Amounts falling due within one year

6

(598,067)

(623,235)

Net current liabilities

 

(533,502)

(537,834)

Total assets less current liabilities

 

286,498

282,166

Provisions for liabilities

(70,300)

(70,300)

Net assets

 

216,198

211,866

Capital and reserves

 

Called up share capital

7

1

1

Profit and loss account

216,197

211,865

Shareholders' funds

 

216,198

211,866

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 August 2024 and signed on its behalf by:
 

.........................................
Mr A Trump
Director

 

Urbanbridge Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Vici House
2 Mallard Road
Sowton
Exeter
Devon
EX2 7LD

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including Section 1A. There are no material departures from FRS 102.

Basis of preparation

These financial statements have been prepared using the historical cost convention. The financial statements are presented in pound sterling.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

The turnover shown in the profit and loss account represents amounts of rental income receivable during the year.

 

Urbanbridge Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2023

2

Accounting policies (continued)

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Director. The Director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

4

Investment properties

2023
£

At 1 December 2022

820,000

At 30 November 2023

820,000


The last independent valuation was in November 2017 when the group refinanced.

The investment property fair value has been based on the Director's valuation at the end of the financial year.

 

Urbanbridge Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2023

5

Debtors

2023
£

2022
£

Amounts due from group undertakings

47,167

67,347

Prepayments

5,337

4,080

52,504

71,427

6

Creditors

Creditors: amounts falling due within one year

2023
 £

2022
 £

Due within one year

Bank loans

261,383

287,550

Amounts due to group undertakings

332,377

332,377

Accrued expenses

2,830

2,386

Corporation tax

1,477

922

598,067

623,235

Bank borrowing are secured on all assets of the company by way of fixed and floating charges.

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         

8

Reserves

Reserves of £299,700 (2022: £299,700) are in respect of non-distributable reserves in relation to the revaluation of the company's investment property.

 

Urbanbridge Limited

Notes to the Unaudited Financial Statements

Year Ended 30 November 2023

9

Parent and ultimate parent undertaking

The company's immediate parent is ATP Holdings Limited, incorporated in England & Wales.

 The ultimate parent is AT Property Holdings Limited, incorporated in England & Wales.

 The ultimate controlling party is Mr A Trump.