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Registered number: 11509838












URBAN LOGISTICS HUBS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


 
REGISTERED NUMBER:11509838
URBAN LOGISTICS HUBS LTD

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible fixed assets
 5 
-
40,500

Tangible fixed assets
 6 
16,354,886
11,002,410

Fixed asset investments
 7 
22,899
125,880

  
16,377,785
11,168,790

Current assets
  

Debtors
 8 
498
243

Cash at bank and in hand
  
63,864
8,686

  
64,362
8,929

Creditors: amounts falling due within one year
 9 
(3,542,140)
(2,341,555)

Net current liabilities
  
 
 
(3,477,778)
 
 
(2,332,626)

Total assets less current liabilities
  
12,900,007
8,836,164

Creditors: amounts falling due after more than one year
 10 
(25,039,911)
(17,350,966)

  

Net liabilities
  
(12,139,904)
(8,514,802)


Capital and reserves
  

Called up share capital 
 12 
100
100

Revaluation reserve
  
384
3,365

Profit and loss account
  
(12,140,388)
(8,518,267)

Total equity
  
(12,139,904)
(8,514,802)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


A C Lawrence
Director

Date: 12 August 2025

The notes on pages 3 to 9 form part of these financial statements.
Page 1


 
REGISTERED NUMBER:11509838
URBAN LOGISTICS HUBS LTD
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024


Page 2

 

URBAN LOGISTICS HUBS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Urban Logistics Hubs Ltd is a private limited company, incorporated in England and Wales, registered number 11509838. Its registered office address is Magnavale House Holmewood Industrial Park, Holmewood, Chesterfield, England, S42 5UY.
The principal activity of the company is to own and develop the site owned by the company.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The company holds freehold property which is expected to be developed in the future. The company continues to generate losses in the intervening period. 
Continued financial support has been confirmed from the wider group it is part of to continue to meet its obligations as they fall due. 
The directors therefore believe that there are no material uncertainties that may cast significant doubt on the company’s ability to continue as a going concern.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 

URBAN LOGISTICS HUBS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Other intangible assets are amortised over ten years, representing the period over which benefit is expected to accrue to the Company.

Gain and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
 
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. 
Freehold Property comprises land, which is not depreciated.

 
2.7

Valuation of investments

Other investments represents a minority interest in a limited liability partnership, and is measured using the revaluation model.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 

URBAN LOGISTICS HUBS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Tangible fixed assets and investment property are held at cost less accumulated impairment losses. Its recoverable value is determined by the assessment of the profit generating capability of these premises. There is inherent judgment and uncertainty in producing these assessments by considering forecast and market-based data. The carrying amount of the company's fixed assets is tested as soon as changed conditions show that a need for impairment has arisen.


4.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £nil).


5.


Intangible assets




Other Assets

£





At 1 January 2024
54,000


Disposals
(54,000)



At 31 December 2024

-





At 1 January 2024
13,500


On disposals
(13,500)



At 31 December 2024

-



Net book value



At 31 December 2024
-



At 31 December 2023
40,500



Page 5

 

URBAN LOGISTICS HUBS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Tangible fixed assets





Freehold property

£



Cost 


At 1 January 2024
11,002,410


Additions
5,352,476



At 31 December 2024

16,354,886






Net book value



At 31 December 2024
16,354,886



At 31 December 2023
11,002,410




7.


Fixed asset investments





Unlisted investments

£



Cost


At 1 January 2024
125,880


Distribution
(100,000)


Revaluations
(2,981)



At 31 December 2024
22,899




The investment represents the company's interest in Easton Stores Properties LLP. 
This LLP made its final distribution in March 2025 and has been voluntarily wound up. 

Page 6

 

URBAN LOGISTICS HUBS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
100
100

100
100

Due within one year

Other debtors
180
85

Prepayments and accrued income
218
58

498
243



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
510

Accruals and deferred income
3,542,140
2,341,045

3,542,140
2,341,555



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
25,039,911
17,350,966

25,039,911
17,350,966


Page 7

 

URBAN LOGISTICS HUBS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Bank loans
25,039,911
17,350,966


25,039,911
17,350,966


25,039,911
17,350,966


The bank loans are due for repayment in December 2026 and reflect interest at 15%.


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



5,500 (2023 - 5,500) Ordinary A shares of £0.01 each
55
55
500 (2023 - 500) Ordinary B shares of £0.01 each
5
5
500 (2023 - 500) Ordinary C shares of £0.01 each
5
5
500 (2023 - 500) Ordinary D shares of £0.01 each
5
5
500 (2023 - 500) Ordinary E shares of £0.01 each
5
5
500 (2023 - 500) Ordinary F shares of £0.01 each
5
5
500 (2023 - 500) Ordinary G shares of £0.01 each
5
5
500 (2023 - 500) Ordinary H shares of £0.01 each
5
5
500 (2023 - 500) Ordinary I shares of £0.01 each
5
5
500 (2023 - 500) Ordinary J shares of £0.01 each
5
5

100

100



13.


Related party transactions

At the year end the company was due £100 from a director (2023: £100). These amounts were not interest bearing. 
During the period the following transactions took place between the entity and other entities under common control:
Sales in the period amounted to £nil (2023: £129,845) of which £nil (2023: £nil) were outstanding at year end.

Page 8

 

URBAN LOGISTICS HUBS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


Controlling party

The immediate parent entity is ULH UK Holdings Limited, a company registered in England and Wales.
The ultimate parent entity is Sadel Group S.à r.l., a company registered in Luxembourg, which is wholly owned by SA Lawrence, the ultimate beneficial owner. 


15.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 12 August 2025 by Mahmood Ramji (Senior Statutory Auditor) on behalf of Blick Rothenberg Audit LLP.

 
Page 9