REGISTERED NUMBER: 05962978 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

URBAN GROUND LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A M Spirou

M A Spirou

REGISTERED OFFICE:

Railview Lofts

19c Commercial Road

Eastbourne

East Sussex

BN21 3XE

REGISTERED NUMBER:

05962978 (England and Wales)

ACCOUNTANTS:

LMDB Accountants

Chartered Certified Accountants

Railview Lofts

19c Commercial Road

Eastbourne

East Sussex

BN21 3XE

FIXED ASSETS

Tangible assets

4

99,322

106,363

CURRENT ASSETS

Stocks

7,032

7,000

Debtors

5

27,099

26,310

Cash at bank

4,834

1,058

38,965

34,368

CREDITORS

Amounts falling due within one year

6

80,306

68,161

NET CURRENT LIABILITIES

(41,341

)

(33,793

)

TOTAL ASSETS LESS CURRENT LIABILITIES

57,981

72,570

CREDITORS

Amounts falling due after more than one year

7

(13,097

)

(23,524

)

PROVISIONS FOR LIABILITIES

(5,671

)

(5,639

)

NET ASSETS

39,213

43,407

CAPITAL AND RESERVES

Called up share capital

10

200

200

Retained earnings

39,013

43,207

SHAREHOLDERS' FUNDS

39,213

43,407

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

A M Spirou - Director

M A Spirou - Director

1.	STATUTORY INFORMATION

Urban Ground Limited 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised at the point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

229,804

Additions

4,363

Disposals

(27,441

)

At 31 December 2024

206,726

DEPRECIATION

At 1 January 2024

123,441

Charge for year

7,650

Eliminated on disposal

(23,687

)

At 31 December 2024

107,404

NET BOOK VALUE

At 31 December 2024

99,322

At 31 December 2023

106,363

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

26,941

Disposals

(26,941

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

23,345

Eliminated on disposal

(23,345

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

3,596

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

240

-

Other debtors

26,859

26,310

27,099

26,310

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,183

9,686

Trade creditors

9,508

14,603

Taxation and social security

50,603

37,300

Other creditors

10,012

6,572

80,306

68,161

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

13,097

23,524

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

50,992

50,992

Between one and five years

93,998

126,490

In more than five years

46,250

60,125

191,240

237,607

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

23,280

33,210

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary 'A'

£1

100

100

100

Ordinary 'B'

£1

100

100

200

200

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr & Mrs Spirou.

The majority shareholders of the company.