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REGISTERED NUMBER: 05692421 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Urbanpads Ltd

Urbanpads Ltd (Registered number: 05692421)






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


Urbanpads Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs B C Fitzpatrick
P S Taylor





REGISTERED OFFICE: Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY





REGISTERED NUMBER: 05692421 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

Urbanpads Ltd (Registered number: 05692421)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,376,674 1,376,674

CURRENT ASSETS
Debtors 5 3,770 55,767
Cash at bank 5,347 26,230
9,117 81,997
CREDITORS
Amounts falling due within one year 6 153,683 89,919
NET CURRENT LIABILITIES (144,566 ) (7,922 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,232,108

1,368,752

CREDITORS
Amounts falling due after more than one year 7 433,141 588,814
NET ASSETS 798,967 779,938

CAPITAL AND RESERVES
Called up share capital 2,520 2,520
Share premium 199,482 199,482
Fair value reserve 9 245,000 245,000
Retained earnings 351,965 332,936
SHAREHOLDERS' FUNDS 798,967 779,938

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.

Urbanpads Ltd (Registered number: 05692421)

Balance Sheet - continued
31 December 2023


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 25 November 2024 and were signed on its behalf by:





P S Taylor - Director


Urbanpads Ltd (Registered number: 05692421)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Urbanpads Ltd 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced rental income. Revenue is recognised when the company obtains the right to receive rents due.

Deferred income arises when the customer pays rent in advance.

Financial instruments
Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with charges recognised in profit or loss.

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.

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

3. EMPLOYEES AND DIRECTORS

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

Urbanpads Ltd (Registered number: 05692421)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,376,674
NET BOOK VALUE
At 31 December 2023 1,376,674
At 31 December 2022 1,376,674

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2016 115,000
Valuation in 2017 45,000
Valuation in 2022 85,000
Cost 1,131,674
1,376,674

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 3,770 55,767

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 42,231 41,396
Trade creditors 6,299 -
Taxation and social security 8,819 3,840
Other creditors 96,334 44,683
153,683 89,919

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 433,141 478,814
Other creditors - 110,000
433,141 588,814

Urbanpads Ltd (Registered number: 05692421)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.12.23 31.12.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 260,477 305,870

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 475,372 520,210

Allied Irish bank has a fixed and floating charge over the undertaking on all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.

Paul Randall as Security Trustee for the Secured Parties holds fixed and floating charges over all the property or undertakings of the company.

9. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 245,000