Company Registration No. 07848145 (England and Wales)
UGS INVESTMENTS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
PAGES FOR FILING WITH REGISTRAR
UGS INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
UGS INVESTMENTS LIMITED (REGISTERED NUMBER: 07848145)
BALANCE SHEET
AS AT
30 SEPTEMBER 2021
30 September 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investment properties
3
1,578,670
Current assets
Debtors
4
100
100
Creditors: amounts falling due within one year
5
(1,583,745)
Net current (liabilities)/assets
(1,583,645)
100
Net (liabilities)/assets
(4,975)
100
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(5,075)
Total equity
(4,975)
100
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
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 by the board of directors and authorised for issue on 21 June 2022 and are signed on its behalf by:
D Shamoon
Director
UGS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 2 -
1
Accounting policies
Company information
UGS Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 399-401 Strand, London, WC2R 0LT.
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 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.
1.2
Going concern
Atruet 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. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
The company will receive continued support from its parent company Bursha Holdings Limited.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
2
2
UGS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 3 -
3
Investment property
2021
£
Fair value
At 1 October 2020
Additions
1,578,670
At 30 September 2021
1,578,670
The fair value is based upon the market value paid during the year to acquire the investment property.
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
100
100
5
Creditors: amounts falling due within one year
2021
2020
£
£
Amounts owed to group undertakings
1,578,998
Other creditors
4,747
1,583,745
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Declan McCusker and the auditor was Perrys Accountants Limited.
7
Related party transactions
The company has taken advantage of the exemption given by Financial Reporting Standard 102 Section 33.1A in relation to disclosing balances and transactions with other group companies on the grounds that the company is included in the consolidated accounts of its immediate parent company.
UGS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 4 -
8
Parent company
The ultimate parent company is Chrisalis Holdings Limited, a company incorporated in Jersey, and owned by a trustee of the Yucca Discretionary Settlement and the Cedar Discretionary Settlement. The immediate parent company is Bursha Holdings Limited, a company incorporated in England and Wales.