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REGISTERED NUMBER: 05962978 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

URBAN GROUND LIMITED

URBAN GROUND LIMITED (REGISTERED NUMBER: 05962978)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


URBAN GROUND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A M Spirou
M A Spirou





REGISTERED OFFICE: Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE





REGISTERED NUMBER: 05962978 (England and Wales)





ACCOUNTANTS: LMDB Accountants
Chartered Certified Accountants
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE

URBAN GROUND LIMITED (REGISTERED NUMBER: 05962978)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 106,363 108,417

CURRENT ASSETS
Stocks 7,000 5,538
Debtors 5 26,310 29,593
Cash at bank 1,058 15,343
34,368 50,474
CREDITORS
Amounts falling due within one year 6 68,161 70,976
NET CURRENT LIABILITIES (33,793 ) (20,502 )
TOTAL ASSETS LESS CURRENT LIABILITIES 72,570 87,915

CREDITORS
Amounts falling due after more than one
year

7

(23,524

)

(33,836

)

PROVISIONS FOR LIABILITIES (5,639 ) (6,018 )
NET ASSETS 43,407 48,061

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 43,207 47,861
SHAREHOLDERS' FUNDS 43,407 48,061

URBAN GROUND LIMITED (REGISTERED NUMBER: 05962978)

BALANCE SHEET - continued
31 DECEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:




A M Spirou - Director



M A Spirou - Director


URBAN GROUND LIMITED (REGISTERED NUMBER: 05962978)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Urban Ground Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


URBAN GROUND LIMITED (REGISTERED NUMBER: 05962978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 19 ) .

URBAN GROUND LIMITED (REGISTERED NUMBER: 05962978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 223,118
Additions 6,686
At 31 December 2023 229,804
DEPRECIATION
At 1 January 2023 114,701
Charge for year 8,740
At 31 December 2023 123,441
NET BOOK VALUE
At 31 December 2023 106,363
At 31 December 2022 108,417

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 26,941
DEPRECIATION
At 1 January 2023 22,146
Charge for year 1,199
At 31 December 2023 23,345
NET BOOK VALUE
At 31 December 2023 3,596
At 31 December 2022 4,795

URBAN GROUND LIMITED (REGISTERED NUMBER: 05962978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 26,310 29,593

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,686 9,060
Trade creditors 14,603 7,824
Taxation and social security 37,300 47,687
Other creditors 6,572 6,405
68,161 70,976

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 23,524 33,836

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 50,992 41,000
Between one and five years 126,490 132,630
In more than five years 60,125 70,225
237,607 243,855

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 33,210 42,896

URBAN GROUND LIMITED (REGISTERED NUMBER: 05962978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 'A' £1 100 100
100 Ordinary 'B' £1 100 100
200 200

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr & Mrs Spirou.

The majority shareholders of the company.