Company registration number: 12014188

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Urban High Property Investments Ltd

 

Filleted Unaudited financial statements

 

31 May 2024

 

Urban High Property Investments 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 Property Investments Ltd

Directors and other information

 

Directors

C Cingi (appointed 3 April 2024)

 

M G Curran (appointed 13 May 2024)

 

 

Company number

12014188

 

 

Registered office

Lynton House

 

7-12 Tavistock Square

 

London

 

WC1H 9LT

Urban High Property Investments 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:

 

M G Curran (appointed 13 May 2024)

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 18th February 2025 and signed on behalf of the board by:

 

 

 

 

C Cingi

Director

Urban High Property Investments Ltd

Statement of financial position

31 May 2024

 

 

 

 

31.05.24

 

31.05.23

 

Note

£

£

£

£

 

 

 

 

 

 

Fixed assets

 

 

 

 

 

Investments

4

23,428

 

23,428

 

 

 

 

 

 

 

 

 

 

23,428

 

23,428

Current assets

 

 

 

 

 

Debtors

5

11,491,533

 

11,691,533

 

Cash at bank and in hand

 

103,461

 

11,293

 

 

 

 

 

 

 

 

 

11,594,994

 

11,702,826

 

Creditors: amounts falling due within one year

6

(11,696,473)

 

(11,799,700)

 

 

 

 

 

 

 

Net current liabilities

 

 

(101,479)

 

(96,874)

 

 

 

 

 

 

Total assets less current liabilities

 

 

(78,051)

 

(73,446)

 

 

 

 

 

 

Capital and reserves

 

 

 

 

 

Called up share capital

 

 

100

 

100

Profit and loss account

 

 

(78,151)

 

(73,546)

 

 

 

 

 

 

Shareholders deficit

 

 

(78,051)

 

(73,446)

 

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 Property Investments 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 18th February 2025 and are signed on behalf of the board by:

 

 

 

 

C Cingi

Director

 

Company registration number: 12014188

 

 

 

 

 

 

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

Urban High Property Investments 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.

 

Going concern

 

At the balance sheet date, the reporting entity had net liability in the sum of £78,051 (2023: £73,446). 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 directors consider 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

 

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.

 

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.

Urban High Property Investments Ltd

Notes to the financial statements

Year ended 31 May 2024

 

3.     Accounting policies (continued)

 

Taxation (continued)

 

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.

 

 

Fixed asset investments

 

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

 

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.

 

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

 

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Urban High Property Investments Ltd

Notes to the financial statements

Year ended 31 May 2024

 

4.     Investments

 

 

Shares in group

Total

 

undertakings

 

 

and participating

 

 

interests

 

 

£

£

 

 

 

Cost

 

 

At 1 June 2023

23,428

23,428

Additions

-

-

Disposals

-

-

 

 

 

At 31 May 2024

23,428

23,428

 

 

 

Impairment

 

 

At 1 June 2023 and 31 May 2024

-

-

 

 

 

Carrying amount

 

 

At 31 May 2023 and 31 May 2024

23,428

23,428

 

5.     Debtors

 

 

Note

2024

2023

 

 

£

£

 

 

 

 

Amounts owed by subsidiary undertaking

5.1

2,089,541

2,109,541

Amounts owed by related company

 

9,401,892

9,581,892

Other debtors

 

100

100

 

 

 

 

 

 

11,491,533

11,691,533

 

5.1     The amounts owed by subsidiary undertaking and related company were advanced for

the acquisition and development of a property and they are interest free. The amounts owed by related company are secured by a debenture over all of the assets of the related company together with shareholder security agreements.

Urban High Property Investments Ltd

Notes to the financial statements

Year ended 31 May 2024

 

6.     Creditors: amounts falling due within one year

 

 

Note

2024

2023

 

 

£

£

 

 

 

 

Trade creditors: related companies

 

14,560

118,000

Other creditors

 

200

200

Amounts owed to related companies

6.1

11,680,000

11,680,000

Accruals

 

1,713

1,500

 

 

 

 

 

 

11,696,473

11,799,700

 

6.1     The amounts owed to related companies are interest free.

 

7.     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.

 

Related party transactions

 

 

Transaction value

For the year/period ended

31 May

 

2024

2023

 

£

£

 

 

 

Expenses

 

 

Consultancy fees charged by a related company

-

(46,000)

Accrued director's remuneration

(153)

-

 

 

 

Payments for operating transactions

 

 

Trade creditors: related companies

(103,440)

26,000

 

 

 

Financing transactions

 

 

Amounts owed by subsidiary undertaking

(20,000)

(1,600)

Amounts owed by related company

(180,000)

-