REGISTERED NUMBER: 00382037 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2025

for

Urban And Sea Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D L Foa

Mrs A L Foa

REGISTERED OFFICE:

5 Topsham Units

Dart Business Park

Exeter

Devon

EX3 0QH

REGISTERED NUMBER:

00382037 (England and Wales)

ACCOUNTANTS:

Blue Sky

Chartered Accountants

The Old Dairy

Cadhay

Ottery St Mary

Devon

EX11 1QT

FIXED ASSETS

Tangible assets

4

4,592

7,119

Investment property

5

3,900,000

6,500,000

3,904,592

6,507,119

CURRENT ASSETS

Debtors

6

114,366

113,328

Cash at bank

48,840

48,842

163,206

162,170

CREDITORS

Amounts falling due within one year

7

127,320

131,275

NET CURRENT ASSETS

35,886

30,895

TOTAL ASSETS LESS CURRENT LIABILITIES

3,940,478

6,538,014

PROVISIONS FOR LIABILITIES

751,340

1,401,972

NET ASSETS

3,189,138

5,136,042

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Revaluation reserve

8

3,040,447

4,989,891

Retained earnings

145,691

143,151

SHAREHOLDERS' FUNDS

3,189,138

5,136,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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 30 July 2026 and were signed on its behalf by:

Mr D L Foa - Director

1.	Statutory information

Urban And Sea 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.

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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

3.	Employees and directors

The average number of employees during the year was 5 (2024 - 7 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

Cost

At 1 November 2024

5,154

8,451

13,605

Additions

-

1,586

1,586

At 31 October 2025

5,154

10,037

15,191

Depreciation

At 1 November 2024

2,394

4,092

6,486

Charge for year

1,289

2,824

4,113

At 31 October 2025

3,683

6,916

10,599

Net book value

At 31 October 2025

1,471

3,121

4,592

At 31 October 2024

2,760

4,359

7,119

5.	Investment property

Total

£

Fair value

At 1 November 2024

6,500,000

Revaluations

(2,600,000

)

At 31 October 2025

3,900,000

Net book value

At 31 October 2025

3,900,000

At 31 October 2024

6,500,000

Fair value at 31 October 2025 is represented by:

£

Valuation in 2025

3,790,639

Cost

109,361

3,900,000

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

1,820

2,827

Other debtors

112,546

110,501

114,366

113,328

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

3,946

2,041

Taxation and social security

5,673

10,894

Other creditors

117,701

118,340

127,320

131,275

8.

Reserves

Revaluation

reserve

£

At 1 November 2024

4,989,891

Transfer between reserves

(1,949,444

)

At 31 October 2025

3,040,447