Urban Development Projects Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06966437

URBAN DEVELOPMENT PROJECTS LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

22 December 2024

URBAN DEVELOPMENT PROJECTS LTD

FINANCIAL STATEMENTS

PERIOD FROM 25 DECEMBER 2023 TO 22 DECEMBER 2024

CONTENTS	PAGES

Statement of financial position	1 to 2

Notes to the financial statements	3 to 6

URBAN DEVELOPMENT PROJECTS LTD

STATEMENT OF FINANCIAL POSITION

22 December 2024

	22 Dec 24		24 Dec 23
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6		108,396		2,952,690

CURRENT ASSETS

Debtors	7	612,449	628,343
Cash at bank and in hand		304,297	8,987
		---------	---------
		916,746	637,330

CREDITORS: amounts falling due within one year	8	( 1,954,100)		( 1,594,552)
		------------		------------
NET CURRENT LIABILITIES			( 1,037,354)		( 957,222)
			------------		------------
TOTAL ASSETS LESS CURRENT LIABILITIES			( 928,958)		1,995,468

CREDITORS: amounts falling due after more than one year	9		–		( 1,741,169)

PROVISIONS

Taxation including deferred tax	( 14,001)	( 229,937)
	---------	------------
NET (LIABILITIES)/ASSETS	( 942,959)	24,362
	---------	------------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	( 943,059)	24,262
	---------	--------
SHAREHOLDER (DEFICIT)/FUNDS	( 942,959)	24,362
	---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of 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.

For the period ending 22 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

URBAN DEVELOPMENT PROJECTS LTD

STATEMENT OF FINANCIAL POSITION (continued)

22 December 2024

These financial statements were approved by the board of directors and authorised for issue on 28 May 2026 , and are signed on behalf of the board by:

S P Graham
Director

Company registration number: 06966437

URBAN DEVELOPMENT PROJECTS LTD

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 25 DECEMBER 2023 TO 22 DECEMBER 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 51 Selby Road, Leeds, LS9 0EW.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of rents received.

Deferred tax

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

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	15% reducing balance
Computer equipment	-	25% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its open market value at each reporting date and any changes in value are recognised in the statement of income and retained earnings.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the period amounted to 1 (2023: 1 ).

5. TAX ON (LOSS)/PROFIT

Major components of tax (income)/expense

	Period from	Period from
	25 Dec 23 to	26 Dec 22 to
	22 Dec 24	24 Dec 23
	£	£

Current tax:

UK current tax expense	1,365	–
Adjustments in respect of prior periods	–	1,602
	-------	-------
Total current tax	1,365	1,602
	-------	-------

Deferred tax:

Origination and reversal of timing differences	( 215,936)	–
	---------	-------
Tax on (loss)/profit	( 214,571)	1,602
	---------	-------

6. TANGIBLE ASSETS

	Investment property	Fixtures and fittings	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 25 December 2023	2,951,483	1,174	11,760	2,964,417
Disposals	( 2,831,483)	–	( 11,760)	( 2,843,243)
Revaluations	( 12,000)	–	–	( 12,000)
	------------	-------	--------	------------
At 22 December 2024	108,000	1,174	–	109,174
	------------	-------	--------	------------
Depreciation
At 25 December 2023	–	706	11,021	11,727
Charge for the period	–	72	–	72
Disposals	–	–	( 11,021)	( 11,021)
	------------	-------	--------	------------
At 22 December 2024	–	778	–	778
	------------	-------	--------	------------
Carrying amount
At 22 December 2024	108,000	396	–	108,396
	------------	-------	--------	------------
At 24 December 2023	2,951,483	468	739	2,952,690
	------------	-------	--------	------------

The market value of the investment property held as at 22nd December 2024 has been calculated by the director, and has been valued at open market value.

7. DEBTORS

	22 Dec 24	24 Dec 23
	£	£
Trade debtors	58	52,985
Other debtors	612,391	575,358
	---------	---------
	612,449	628,343
	---------	---------

8. CREDITORS: amounts falling due within one year

	22 Dec 24	24 Dec 23
	£	£
Bank loans and overdrafts	–	61,893
Trade creditors	5,084	31,393
Corporation tax	1,365	–
Social security and other taxes	2,573	2,824
Amounts due to related companies	1,503,327	1,211,118
Other creditors	441,751	287,324
	------------	------------
	1,954,100	1,594,552
	------------	------------

9. CREDITORS: amounts falling due after more than one year

	22 Dec 24	24 Dec 23
	£	£
Bank loans and overdrafts	–	1,741,169
	----	------------