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REGISTERED NUMBER: 04783880 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

URBAN EYE DEVELOPMENTS LTD

URBAN EYE DEVELOPMENTS LTD (REGISTERED NUMBER: 04783880)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


URBAN EYE DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: J A Smart





REGISTERED OFFICE: 11a Sydenham Hill
London
SE26 6SH





REGISTERED NUMBER: 04783880 (England and Wales)





ACCOUNTANTS: Galloways Accounting Limited
15 West Street
Brighton
East Sussex
BN1 2RL

URBAN EYE DEVELOPMENTS LTD (REGISTERED NUMBER: 04783880)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 4 1,274,193 1,155,614
Debtors 5 9,396,665 9,305,350
Cash at bank and in hand 9,038 38,619
10,679,896 10,499,583
CREDITORS
Amounts falling due within one year 6 (4,785,791 ) (4,083,419 )
NET CURRENT ASSETS 5,894,105 6,416,164
TOTAL ASSETS LESS CURRENT LIABILITIES 5,894,105 6,416,164

CREDITORS
Amounts falling due after more than one year 7 (5,175,915 ) (5,133,276 )
NET ASSETS 718,190 1,282,888

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 718,189 1,282,887
718,190 1,282,888

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 June 2025 and were signed by:





J A Smart - Director


URBAN EYE DEVELOPMENTS LTD (REGISTERED NUMBER: 04783880)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Urban Eye Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The company manages it cash flow as part of a group, and in addition to the finance raised within the company, it is also reliant on finance provided by other group companies. The director has reviewed the group finance facilities and the expected cash flow for the group and has a reasonable expectation that the company has adequate resources to continue to operate for the foreseeable future.

The company's debt facilities of £5,186,178 expire in July 2024. This facility was renewed for a further year on commercial terms, which will provide the company with sufficient cash flow to enable continued operations. The Director is negotiating the refinance of the debt facility and anticipates the new facility will provide the company with sufficient cash flow to enable continued operations for the foreseeable future.

Stocks
Stocks comprise properties held for resale and are stated at the lower of cost and net realisable value. The director has considered the net realisable value of each of the properties based on his knowledge of the property market and development.

3. EMPLOYEES

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

4. STOCKS
2024 2023
£    £   
Development property 1,274,193 1,155,614

Stock includes properties which are held on trust for the company by the director.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group companies 9,239,602 9,149,836
Other debtors 157,063 155,514
9,396,665 9,305,350

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,263 10,019
Amounts owed to group companies 4,300,591 3,636,911
Other creditors 474,937 436,489
4,785,791 4,083,419

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 5,175,915 5,133,276

URBAN EYE DEVELOPMENTS LTD (REGISTERED NUMBER: 04783880)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 5,186,178 5,143,295

The loan is secured by way of a fixed and floating charge over the company's property and assets and a personal guarantee from the director. The Lender also has a Subordination Agreement with Urban Eye Properties Limited, Sojobo Limited, Habitat Construction LLP, Hiruko Properties Limited and Villa Fontaine Limited.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Urban Eye Properties Limited, of which the registered office is 11a Sydenham Hill, London, SE26 6SH.