Ugly Duckling Properties Limited Filleted accounts for Companies House (small and micro)

Ugly Duckling Properties Limited Filleted accounts for Companies House (small and micro)

UGLY DUCKLING PROPERTIES LIMITED - Company Information

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0 false false false false false false false false false true false false false false false false No description of principal activity 2019-02-01 Sage Accounts Production Advanced 2020 - FRS102_2019 189,277 104,104 9,464 113,568 75,709 85,173 xbrli:pure xbrli:shares iso4217:GBP 05679970 2019-02-01 2020-01-31 05679970 2020-01-31 05679970 2019-01-31 05679970 2019-01-31 05679970 core:LandBuildings core:OwnedOrFreeholdAssets 2019-02-01 2020-01-31 05679970 bus:Director2 2019-02-01 2020-01-31 05679970 core:LandBuildings 2019-01-31 05679970 core:LandBuildings 2020-01-31 05679970 core:WithinOneYear 2020-01-31 05679970 core:WithinOneYear 2019-01-31 05679970 core:AfterOneYear 2020-01-31 05679970 core:AfterOneYear 2019-01-31 05679970 core:ShareCapital 2020-01-31 05679970 core:ShareCapital 2019-01-31 05679970 core:RetainedEarningsAccumulatedLosses 2020-01-31 05679970 core:RetainedEarningsAccumulatedLosses 2019-01-31 05679970 core:LandBuildings 2019-02-01 2020-01-31 05679970 core:LandBuildings 2019-01-31 05679970 bus:SmallEntities 2019-02-01 2020-01-31 05679970 bus:AuditExempt-NoAccountantsReport 2019-02-01 2020-01-31 05679970 bus:FullAccounts 2019-02-01 2020-01-31 05679970 bus:SmallCompaniesRegimeForAccounts 2019-02-01 2020-01-31 05679970 bus:PrivateLimitedCompanyLtd 2019-02-01 2020-01-31
COMPANY REGISTRATION NUMBER: 05679970
Ugly Duckling Properties Limited
Filleted Unaudited Financial Statements
31 January 2020
Ugly Duckling Properties Limited
Statement of Financial Position
31 January 2020
2020
2019
Note
£
£
£
£
Fixed assets
Tangible assets
4
75,709
85,173
Current assets
Debtors
5
–
4,566
Cash at bank and in hand
1,810
11,386
-------
--------
1,810
15,952
Creditors: amounts falling due within one year
6
6,800
16,491
-------
--------
Net current liabilities
4,990
539
--------
--------
Total assets less current liabilities
70,719
84,634
Creditors: amounts falling due after more than one year
7
190,305
190,412
---------
---------
Net liabilities
( 119,586)
( 105,778)
---------
---------
Capital and reserves
Called up share capital
3
3
Profit and loss account
( 119,589)
( 105,781)
---------
---------
Shareholders deficit
( 119,586)
( 105,778)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ugly Duckling Properties Limited
Statement of Financial Position (continued)
31 January 2020
These financial statements were approved by the board of directors and authorised for issue on 8 April 2021 , and are signed on behalf of the board by:
Mr S. Lord Marchionne
Director
Company registration number: 05679970
Ugly Duckling Properties Limited
Notes to the Financial Statements
Year ended 31st January 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Burton Place, Castlefield, Manchester, M15 4PT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
5% straight line
4. Tangible assets
Land and buildings
£
Cost
At 1st February 2019 and 31st January 2020
189,277
---------
Depreciation
At 1st February 2019
104,104
Charge for the year
9,464
---------
At 31st January 2020
113,568
---------
Carrying amount
At 31st January 2020
75,709
---------
At 31st January 2019
85,173
---------
5. Debtors
2020
2019
£
£
Trade debtors
–
1,200
Other debtors
–
3,366
----
-------
–
4,566
----
-------
6. Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
912
–
Social security and other taxes
–
999
Other creditors
5,888
15,492
-------
--------
6,800
16,491
-------
--------
7. Creditors: amounts falling due after more than one year
2020
2019
£
£
Other creditors
190,305
190,412
---------
---------
8. Directors' advances, credits and guarantees
As at 31st January 2020 the company owed its directors £4,988 (2019: £13,692)