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REGISTERED NUMBER: 08819089 (England and Wales)










Urbanspace Developments Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024






Urbanspace Developments Ltd (Registered number: 08819089)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Urbanspace Developments Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr M K Shupac
Mrs L J Kuhwald





REGISTERED OFFICE: 56 School Lane
Manchester
M20 6RT





REGISTERED NUMBER: 08819089 (England and Wales)






Urbanspace Developments Ltd (Registered number: 08819089)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 380 507
Investments in property 6 406,836 406,836
407,216 407,343

CURRENT ASSETS
Debtors 7 2,507 4,267
Cash at bank 31,917 39,264
34,424 43,531
CREDITORS
Amounts falling due within one year 8 (76,581 ) (78,909 )
NET CURRENT LIABILITIES (42,157 ) (35,378 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

365,059

371,965

CREDITORS
Amounts falling due after more than one year 9 (139,697 ) (148,464 )

PROVISIONS FOR LIABILITIES (96 ) (96 )
NET ASSETS 225,266 223,405

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 225,166 223,305
SHAREHOLDERS' FUNDS 225,266 223,405

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Urbanspace Developments Ltd (Registered number: 08819089)

Balance Sheet - continued
31 March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 December 2024 and were signed on its behalf by:





Mr M K Shupac - Director


Urbanspace Developments Ltd (Registered number: 08819089)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. GENERAL INFORMATION

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

The address of its registered office is:
56 School Lane
Manchester
M20 6RT

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

3. ACCOUNTING POLICIES

BASIS OF PREPARATION
The financial statements have been prepared under the historical cost convention.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
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.

TAX
The tax expense tor the period comprises current and deferred 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 income 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.

TURNOVER
Turnover is measured at the fair value of the consideration receivable. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.

TANGIBLE ASSETS
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:

Asset Class Depreciation method and rate
Fixtures and fittings 25% per annum reducing balance method

INVESTMENTS
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss.

Urbanspace Developments Ltd (Registered number: 08819089)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the interest method, less provision for impairment. A provision tiff the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS
Trade creditors arc obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 6,754
DEPRECIATION
At 1 April 2023 6,247
Charge for year 127
At 31 March 2024 6,374
NET BOOK VALUE
At 31 March 2024 380
At 31 March 2023 507

Urbanspace Developments Ltd (Registered number: 08819089)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENTS IN PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 406,836
NET BOOK VALUE
At 31 March 2024 406,836
At 31 March 2023 406,836

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,507 3,230
Prepayments - 1,037
2,507 4,267

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 9,885 10,161
Corporation tax 466 4,093
Directors' current accounts 65,213 63,695
Accruals 1,017 960
76,581 78,909

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 10) 139,697 148,464

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans (under 1 yr) 9,885 10,161

Amounts falling due between one and two years:
Bank loans - 1-2 years 139,697 148,464

Urbanspace Developments Ltd (Registered number: 08819089)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary share 1 100 100