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Registered number: 12363920
Urban Brit Living Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Urban Brit Living Limited for the year ended 31 December 2023
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Urban Brit Living Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Urban Brit Living Limited , as a body, in accordance with the terms of our engagement letter dated 22 May 2024. Our work has been undertaken solely to prepare for your approval the accounts of Urban Brit Living Limited and state those matters that we have agreed to state to the director of Urban Brit Living Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Urban Brit Living Limited and its director as a body for our work or for this report.
It is your duty to ensure that Urban Brit Living Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Urban Brit Living Limited . You consider that Urban Brit Living Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Urban Brit Living Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
19th September 2024
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
Page 1
Page 2
Balance Sheet
Registered number: 12363920
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 650,000 345,000
650,000 345,000
CURRENT ASSETS
Debtors 5 650 650
Cash at bank and in hand 2,309 871
2,959 1,521
Creditors: Amounts Falling Due Within One Year 6 (117,758 ) (83,852 )
NET CURRENT ASSETS (LIABILITIES) (114,799 ) (82,331 )
TOTAL ASSETS LESS CURRENT LIABILITIES 535,201 262,669
Creditors: Amounts Falling Due After More Than One Year 7 (420,525 ) (244,839 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (21,815 ) (3,414 )
NET ASSETS 92,861 14,416
CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair Value Reserve 136,401 34,271
Profit and Loss Account (43,640 ) (19,955 )
SHAREHOLDERS' FUNDS 92,861 14,416
Page 2
Page 3
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Julie Copsey
Director
19th September 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Urban Brit Living Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12363920 . The registered office is Unit 3, Building 2,, The Colony Wilmslow, Altrincham Road, Wilmslow, SK9 4LY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rental property.

2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Investment Property
2023
£
Fair Value
As at 1 January 2023 345,000
Additions 178,914
Revaluations 126,086
As at 31 December 2023 650,000
Page 4
Page 5
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 650 650
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 480
Other loans 1,310 -
Amounts owed to participating interests 43,309 47,171
Other creditors 73,139 36,201
117,758 83,852
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 372,799 -
Other creditors 47,726 244,839
420,525 244,839
8. Secured Creditors
The loan is secured on the properties 109 Station Road, Pendlebury, Swinton, Manchester, M27 6BU and 7 Brabham Close, M21 9GP.
2023 2022
£ £
Bank loans and overdrafts 372,799 -
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 21,815 3,414
10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 January 2023 3,414 3,414
Additions 18,401 18,401
Balance at 31 December 2023 21,815 21,815
Page 5
Page 6
11. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1 each 100 100
Page 6