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Registered number: 08517248









URBAN LIFESTYLE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
URBAN LIFESTYLE LIMITED
REGISTERED NUMBER: 08517248

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2024
2023
2023
Note
£
£
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
542
578

Cash at bank and in hand
  
-
239

  
542
817

Creditors: amounts falling due within one year
 5 
(4,500)
(4,813)

Net current liabilities
  
 
 
(3,958)
 
 
(3,996)

Total assets less current liabilities
  
(3,958)
(3,996)

  

Net liabilities
  
(3,958)
(3,996)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(4,058)
(4,096)

  
(3,958)
(3,996)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 October 2024.

J Pilling
Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
URBAN LIFESTYLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Urban Lifestyle Limited is a private company limited by shares and registered in England and Wales. The registered office and principal place of business is Montreal Farm, Coulton Lane, Hovingham, York, England, YO62 4NQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

At the financial year end date there was a deficit on the Statement of Financial Position. However, the director intends to continue to provide financial support to the company so that it can meet its liabilities as they fall due for payment and accordingly these financial statements are prepared on the basis that the company will continue to be a going concern.     

 
2.3

Currency

The company's functional and presentational currency is GBP.

 
2.4

Turnover

Turnover comprises property sales and rental income.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. 

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. 

Page 2

 
URBAN LIFESTYLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Debtors

2024
2023
£
£


Trade debtors
-
36

Other debtors
542
542

542
578



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
-
4,813

Accruals
4,500
-

4,500
4,813


 
Page 3