Company Registration No. 01967447 (England and Wales)
URBANLEAGUE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
URBANLEAGUE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
URBANLEAGUE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2019
31 December 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
3
32,664
32,664
Creditors: amounts falling due within one year
4
(133,643)
(133,283)
Net current liabilities
(100,979)
(100,619)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(100,981)
(100,621)
Total equity
(100,979)
(100,619)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 22 December 2020
Mr J D Pfeffer
Director
Company Registration No. 01967447
URBANLEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 2 -
1
Accounting policies
Company information
Urbanleague Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
1st Floor, Cloister House, Riverside, New Bailey Street, Manchester, M3 5FS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
1.2
Going concern
The accounts have been prepared on a going concern basis notwithstanding the negative balance sheet total. The company is dependant on continuing support from a connected pension scheme.
true
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
URBANLEAGUE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2019
2018
Number
Number
Total
-
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
32,664
32,664
4
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
1,200
1,200
Amounts owed to group undertakings
128,733
128,013
Other creditors
3,710
4,070
133,643
133,283
5
Related party transactions
At the balance sheet date the company owed £128,733 (2018 - £128,013) to Leadan Properties Limited, the parent company.
At the balance sheet date the company was owed £10,200 (2018 - £10,200) from Castle Point Group Limited and £22,462 (2018 - £22,462) from Gabagain Limited, companies in which Mr J D Pfeffer acts as director.
6
Parent company
The immediate and ultimate parent company is Leadan Properties Limited. Leadan Properties Limited is exempt from the requirement to produce group accounts.