URBAN_LEISURE_(EM)_LIMITE - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have 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.

Urban Leisure (EM) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Finsgate, 5-7 Cranwood Street, London, EC1V 9EE,

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This depends on the continued support of the directors and shareholders and the directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for food and drink provided in the normal course of business, and is shown net of VAT where applicable.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The tax expense represents the sum of deferred tax.

Government grants receivable recognise contributions to expenses received from the government Job Retention Scheme (JRS) set up to assist companies during the covid pandemic.

The average monthly number of persons (including directors) employed by the company during the year was:

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

National Westminster Bank Plc hold a fixed and floating charge on all property undertakings of the company.

At the year end the company owed £1,408,619 (2021 - £1,427,742) to Urban Leisure Holdings Limited, the parent company, in respect of an interest free loan which is repayable on demand.

During the year management fees of £58,423 (2021 - £32,244) were charged by Urban Leisure (QP) Limited, a company owned by the parent company, Urban Leisure Holdings Limited.

The parent company of Urban Leisure (EM) Limited is Urban Leisure Holdings Limited and its registered office is Finsgate, 5-7 Cranwood Street, London, EC1V 9EE.