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Company No: 02653483 (England and Wales)

# URBAN REAL ESTATE LIMITED

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

URBAN REAL ESTATE LIMITED

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

URBAN REAL ESTATE LIMITED

## BALANCE SHEET

As at 30 April 2025
URBAN REAL ESTATE LIMITED

## BALANCE SHEET (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
|  |  |  | Restated - note 2
Fixed assets |  |  |  |
Investment property | 4 | 322,500 |  | 340,770
|  | 322,500 |  | 340,770
Current assets |  |  |  |
Debtors | 5 | 11,191 |  | 4,338
Cash at bank and in hand | 6 | 417 |  | 217
|  | 11,608 |  | 4,555
Creditors: amounts falling due within one year | 7 | ( 25,975) |  | ( 24,169)
Net current liabilities |  | (14,367) |  | (19,614)
Total assets less current liabilities |  | 308,133 |  | 321,156
Provision for liabilities |  | ( 57,501) |  | ( 47,172)
Net assets |  | 250,632 |  | 273,984
Capital and reserves |  |  |  |
Called-up share capital | 8 | 4 |  | 4
Fair value reserve |  | 172,504 |  | 201,103
Capital redemption reserve |  | 4 |  | 4
Profit and loss account |  | 78,120 |  | 72,873
Total shareholders' funds |  | 250,632 |  | 273,984

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Urban Real Estate Limited (registered number: 02653483) were approved and authorised for issue by the Director on 06 February 2026. They were signed on its behalf by:

D Ziman Director |

URBAN REAL ESTATE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
URBAN REAL ESTATE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Urban Real Estate Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover represents rental income receiveable during the year.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The fair value is determined annually by the director, on an open market value for existing use basis.

#### 2. Prior year adjustment

During the year, the company transitioned from FRS 105 – The Financial Reporting Standard applicable to the Micro-entities Regime to FRS 102 Section 1A – The Financial Reporting Standard applicable in the UK and Republic of Ireland.
As a result of this change, the directors reviewed the accounting treatment of land and buildings and elected to apply the revaluation model in accordance with Section 17 of FRS 102. Under FRS 105, revaluation accounting and the recognition of deferred tax were not permitted. The change in accounting policy has been applied retrospectively, resulting in a prior year adjustment to opening reserves at the beginning of the comparative period. The effect of the adjustment on reserves was as follows:

|  | As previously reported |  | Adjustment |  | As restated
Year ended 30 April 2024 |  | £ |  | £ |  | £
Fair value reserve |  | 0 |  | 201,103 |  | 201,103
Retained earnings |  | 284,552 |  | (201,103) |  | 83,449

#### 3. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 2 |  | 2

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 May 2024 | 340,770
Fair value movement | (18,270)
As at 30 April 2025 | 322,500

Investment properties were revalued to fair value at 30 April 2025, based on a valuation undertaken by the director based on his
knowledge of the comparable local properties. If investment properties have not been revalued it would have been included at the historical cost of £92,494.

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 2,150 |  | 2,150
Other debtors | 9,041 |  | 2,188
| 11,191 |  | 4,338

#### 6. Cash and cash equivalents

| 2025 |  | 2024
| £ |  | £
Cash at bank and in hand | 417 |  | 217

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Taxation and social security | 7,833 |  | 6,077
Other creditors | 18,142 |  | 18,092
| 25,975 |  | 24,169

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
4 Ordinary shares of £ 1.00 each | 4 |  | 4