Upton Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03334067 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

UPTON PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Lawrance

Mrs B J Lawrance

SECRETARY:

Mrs B J Lawrance

REGISTERED OFFICE:

Shears Bank

Ledbury

Herefordshire

HR8 1EE

REGISTERED NUMBER:

03334067 (England and Wales)

ACCOUNTANTS:

Leadon Valley Accountancy Ltd

Ledbury Business Centre

136 Bridge Street

Ledbury

Herefordshire

HR8 2AS

FIXED ASSETS

Investment property

4

271,535

271,535

CURRENT ASSETS

Debtors

5

160

130

Cash at bank

642

1,331

802

1,461

CREDITORS

Amounts falling due within one year

6

211,739

214,629

NET CURRENT LIABILITIES

(210,937

)

(213,168

)

TOTAL ASSETS LESS CURRENT LIABILITIES

60,598

58,367

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

1,797

1,797

Retained earnings

58,701

56,470

SHAREHOLDERS' FUNDS

60,598

58,367

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 14 December 2020 and were signed on its behalf by:

P J Lawrance - Director

Mrs B J Lawrance - Director

1.	STATUTORY INFORMATION

Upton Properties 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.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

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.

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 NIL (2019 - NIL).

4.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2019

and 31 March 2020

271,535

NET BOOK VALUE

At 31 March 2020

271,535

At 31 March 2019

271,535

The Directors consider that the current market value is currently comparable with the costs of the

property as shown on the balance sheet and shall review annually.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

160

130

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

523

413

Other creditors

211,216

214,216

211,739

214,629

7.	RELATED PARTY DISCLOSURES

The property is rented by the directors' daughter through housing benefits.

Loans in other creditors from P J Lawrance £104,711 and Mrs B J Lawrance £105,725 who are both

Directors and Shareholders, have no fixed repayment date with no interest accruing.

8.	ULTIMATE CONTROLLING PARTY

The controlling parties of Upton Properties Limited are the directors, both whom are the joint equity

shareholders of the company.