Urban Village Cap1 Limited - Limited company accounts 20.1

REGISTERED NUMBER: 11602869 (England and Wales)

Report of the Directors and

Unaudited Consolidated Financial Statements for the Year Ended 31 January 2021

for

Urban Village Cap1 Limited

Page

Company Information

1

Report of the Directors

2

Consolidated Income Statement

3

Consolidated Balance Sheet

4

Company Balance Sheet

6

Consolidated Statement of Changes in Equity

8

Company Statement of Changes in Equity

9

Notes to the Consolidated Financial Statements

10

DIRECTORS:

N J Sellman

J P Sellman

P J Steer

REGISTERED OFFICE:

The Moat House

Lichfield Road

Sutton Coldfield

B74 2NW

REGISTERED NUMBER:

11602869 (England and Wales)

The directors present their report with the financial statements of the company and the group for the year ended 31 January 2021.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2020 to the date of this report.

N J Sellman

J P Sellman

P J Steer

Other changes in directors holding office are as follows:

K Sharkey - resigned 1 May 2020

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

N J Sellman - Director

18 October 2021

TURNOVER

487,654

334,153

Administrative expenses

(706,347

)

(583,039

)

(218,693

)

(248,886

)

Other operating income

3,986

-

OPERATING LOSS

(214,707

)

(248,886

)

Interest receivable and similar income

1,164

53

(213,543

)

(248,833

)

Gain/loss on revaluation of investment property

3,920,727

-

3,707,184

(248,833

)

Interest payable and similar expenses

(424,757

)

(254,012

)

PROFIT/(LOSS) BEFORE TAXATION

3,282,427

(502,845

)

Tax on profit/(loss)

(721,691

)

-

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

2,560,736

(502,845

)

Profit/(loss) attributable to:

Owners of the parent

2,560,736

(502,845

)

FIXED ASSETS

Investments

5

100

100

Investment property

6

17,390,000

4,350,000

17,390,100

4,350,100

CURRENT ASSETS

Stocks

-

4,506,003

Debtors

7

2,063,676

910,756

Cash at bank and in hand

294,861

440,645

2,358,537

5,857,404

CREDITORS

Amounts falling due within one year

8

(5,503,481

)

(1,075,375

)

NET CURRENT (LIABILITIES)/ASSETS

(3,144,944

)

4,782,029

TOTAL ASSETS LESS CURRENT LIABILITIES

14,245,156

9,132,129

CREDITORS

Amounts falling due after more than one year

9

(10,366,640

)

(8,522,294

)

PROVISIONS FOR LIABILITIES

(967,645

)

(228,614

)

NET ASSETS

2,910,871

381,221

CAPITAL AND RESERVES

Called up share capital

310

310

Fair value reserve

10

4,125,224

974,615

Retained earnings

(1,214,663

)

(593,704

)

2,910,871

381,221

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2021 and were signed on its behalf by:

N J Sellman - Director

FIXED ASSETS

Investments

5

100

-

Investment property

6

-

-

100

-

CURRENT ASSETS

Debtors

7

1,251,052

275,994

Cash at bank and in hand

45,400

387,543

1,296,452

663,537

CREDITORS

Amounts falling due within one year

8

(163,526

)

(21,301

)

NET CURRENT ASSETS

1,132,926

642,236

TOTAL ASSETS LESS CURRENT LIABILITIES

1,133,026

642,236

CREDITORS

Amounts falling due after more than one year

9

(1,970,993

)

(942,000

)

NET LIABILITIES

(837,967

)

(299,764

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(838,067

)

(299,864

)

(837,967

)

(299,764

)

Company's loss for the financial year

(538,203

)

(299,864

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2021 and were signed on its behalf by:

N J Sellman - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 3 October 2018

-

(90,859

)

974,615

883,756

Changes in equity

Issue of share capital

310

-

-

310

Total comprehensive income

-

(502,845

)

-

(502,845

)

Balance at 31 January 2020

310

(593,704

)

974,615

381,221

Changes in equity

Total comprehensive income

-

(620,959

)

3,150,609

2,529,650

Balance at 31 January 2021

310

(1,214,663

)

4,125,224

2,910,871

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Changes in equity

Issue of share capital

100

-

100

Total comprehensive income

-

(299,864

)

(299,864

)

Balance at 31 January 2020

100

(299,864

)

(299,764

)

Changes in equity

Total comprehensive income

-

(538,203

)

(538,203

)

Balance at 31 January 2021

100

(838,067

)

(837,967

)

1.	STATUTORY INFORMATION

Urban Village Cap1 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 General 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 NIL (2020 - NIL).

4.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

5.	FIXED ASSET INVESTMENTS

Group

Shares in

group

undertakings

£

COST

At 1 February 2020

and 31 January 2021

100

NET BOOK VALUE

At 31 January 2021

100

At 31 January 2020

100

Company

Shares in

group

undertakings

£

COST

Additions

100

At 31 January 2021

100

NET BOOK VALUE

At 31 January 2021

100

6.	INVESTMENT PROPERTY

Group

Total

£

FAIR VALUE

At 1 February 2020

4,350,000

Additions

700,000

Revaluations

3,889,640

Transfer to ownership

8,450,360

At 31 January 2021

17,390,000

NET BOOK VALUE

At 31 January 2021

17,390,000

At 31 January 2020

4,350,000

If investment property had not been revalued, it would have been valued at the following historical cost:

2021

2020

Cost

7,947,131

3,146,771

Investment property was valued on an open market basis on 24/06/2019 by Knight Frank (RICS) in respect of Arden House Developments Limited.

Investment property was valued on an open market basis on 27/11/2020 by Bruton Knowles (RICS) in respect of Ringway House Developments Limited.

Investment property was valued on an open market basis on 31/01/2021 by the company directors in respect of UV Milton Keynes Developments Limited.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.1.21

31.1.20

31.1.21

31.1.20

£

£

£

£

Trade debtors

16,680

10,683

-

-

Amounts owed by group undertakings

481,303

351,873

-

-

Amounts owed by associates

1,528,007

514,216

1,250,817

260,259

Other debtors

37,686

33,984

235

15,735

2,063,676

910,756

1,251,052

275,994

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

31.1.21

31.1.20

31.1.21

31.1.20

£

£

£

£

Bank loans and overdrafts

3,524,003

210,000

-

-

Trade creditors

31,099

41,505

2,071

9,493

Amounts owed to group undertakings

241,230

144,160

-

-

Amounts owed to associates

442,211

332,060

-

60

Other creditors

1,264,938

347,650

161,455

11,748

5,503,481

1,075,375

163,526

21,301

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group

Company

31.1.21

31.1.20

31.1.21

31.1.20

£

£

£

£

Bank loans

7,845,647

7,030,294

-

-

Other creditors

2,520,993

1,492,000

1,970,993

942,000

10,366,640

8,522,294

1,970,993

942,000

10.

RESERVES

Group

Fair

value

reserve

£

At 1 February 2020

974,615

Fair value adjustment

3,150,609

At 31 January 2021

4,125,224

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Urban Village Capital Limited.

The ultimate controlling party is jointly Mr N Sellman and Mr JSellman.