Company registration number: 09891597

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Urban High Global Ltd

 

Filleted Unaudited financial statements

 

31 May 2024

 

Urban High Global Ltd

 

Contents

 

 

Page

 

 

Directors and other information

1

 

 

Directors report

2

 

 

Statement of financial position

3-4

 

 

Notes to the financial statements

5-8

Urban High Global Ltd

Directors and other information

 

Directors

C Cingi (appointed 3 April 2024)

 

 

Company number

09891597

 

 

Registered office

Lynton House

 

7-12 Tavistock Square

 

London

 

WC1H 9LT

Urban High Global Ltd

Directors report

Year ended 31 May 2024

 

The directors present their report and the unaudited financial statements of the company for the year ended 31 May 2024.

 

Directors

The directors who served the company during the year were as follows:

 

C Cingi (appointed 3 April 2024)

O Kisacikoglu (resigned 4 April 2024)

 

Small companies provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

 

This report was approved by the board of directors on the 15th February 2025 and signed on behalf of the board by:

 

 

 

 

C Cingi

Director

Urban High Global Ltd

Statement of financial position

31 May 2024

 

 

 

31.05.2024

31.05.2023

 

Note

£

£

£

£

 

 

 

 

 

 

Fixed assets

 

 

 

 

 

Investments

4

7,295

 

7,295

 

 

 

 

 

 

 

 

 

 

7,295

 

7,295

Current assets

 

 

 

 

 

Debtors

5

3,905,608

 

4,005,608

 

Cash at bank and in hand

 

99,278

 

3,590

 

 

 

 

 

 

 

 

 

4,004,886

 

4,009,198

 

Creditors: amounts falling due within one year

6

(11,006,094)

 

(11,004,414)

 

 

 

 

 

 

 

Net current liabilities

 

 

(7,001,208)

 

(6,995,216)

 

 

 

 

 

 

Total assets less current liabilities

 

 

(6,993,913)

 

(6,987,921)

 

 

 

 

 

 

Capital and reserves

 

 

 

 

 

Called up share capital

 

 

10,000

 

10,000

Profit and loss account

 

 

(7,003,913)

 

(6,997,921)

 

 

 

 

 

 

Shareholders deficit

 

 

(6,993,913)

 

(6,987,921)

 

For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Directors' responsibilities:

The shareholders have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

 

 

 

 

The notes on pages 5 to 8 form part of these financial statements.

Urban High Global Ltd

Statement of financial position (continued)

31 May 2024

 

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

 

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

 

These financial statements were approved by the board of directors and authorised for issue on the 15th February 2025 and are signed on behalf of the board by:

 

 

 

 

C Cingi

Director

 

Company registration number: 09891597

 

 

 

 

 

 

The notes on pages 5 to 8 form part of these financial statements.

Urban High Global Ltd

Notes to the financial statements

Year ended 31 May 2024

 

1.     General information

 

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9LT.

 

2.     Statement of compliance

 

These financial statements have been prepared in compliance with the provisions of FRS102, Section 1A, ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

 

3.     Accounting policies

 

Basis of preparation

 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

 

The financial statements are prepared in sterling, which is the functional currency of the entity.

 

Consolidation

 

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

 

Going concern

 

At the balance sheet date, the reporting entity had net liabilities in the sum of £6,993,913 (2023: £6,987,921). The company is reliant on the support of the creditors. On the basis that the creditors will continue to support the reporting entity for the foreseeable future, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of the creditors.

true

 

Taxation

 

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

 

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

 

No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.

Urban High Global Ltd

Notes to the financial statements

Year ended 31 May 2024

 

3.     Accounting policies (continued)

 

Fixed asset investments

 

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

 

Impairment

 

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

 

Financial instruments

 

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

 

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

Debt instruments are subsequently measured at amortised cost.

 

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

 

4.     Investments

 

Shares in group

Total

 

undertakings

 

 

and participating

 

 

interests

 

 

£

£

 

 

 

Cost

 

 

At 1 June 2023

7,295

7,295

 

 

 

At 31 May 2024

7,295

7,295

 

 

 

Impairment

 

 

At 1 June 2023 and 31 May 2024

-

-

 

 

 

Carrying amount

 

 

At 31 May 2024

7,295

7,295

 

 

 

At 31 May 2023

7,295

7,295

Urban High Global Ltd

Notes to the financial statements

Year ended 31 May 2024

 

5.     Debtors

 

 

Note

31.05.2024

31.05.2023

 

 

£

£

 

 

 

 

Loan owed by subsidiary undertaking

5.1

3,895,608

3,995,608

Other debtors

 

10,000

10,000

 

 

 

 

 

 

3,905,608

4,005,608

 

5.1.     The loan owed by subsidiary undertaking was granted for the acquisition and development of a property and is non-interest bearing.

 

6.     Creditors: amounts falling due within one year

 

 

Note

31.05.2024

31.05.2023

 

 

£

£

 

 

 

 

Trade creditors:

 

 

 

Other trade creditors

 

1,800

419

Amounts owed to related companies

6.1

10,952,516

10,952,516

Other creditors and accruals

 

1,894

1,595

Amount owed to shareholder

6.1

49,884

49,884

 

 

 

 

 

 

11,006,094

11,004,414

 

6.1     The amounts owed to related companies and shareholder are non-interest bearing.

 

7.     Related parties

 

7.1     Related party balances and transactions

 

Information on balances due by/to related parties is set out in notes 5 and 6 to these financial statements.

Urban High Global Ltd

Notes to the financial statements

Year ended 31 May 2024

 

7.     Related parties (continued)

 

7.2     Related party transactions

 

 

 

Transaction value

for the year/period ended

31 May

 

Note

31.05.2024

31.05.2023

 

 

£

£

 

 

 

 

Expense

 

 

 

Consultancy fees charged by related company

 

-

(35,000)

 

 

 

 

Financing transactions

 

 

 

Amounts owed by subsidiary undertaking

5

(100,000)

(2,500)

 

 

 

 

Amounts owed to related company

6

-

120,000