Universal Property Interest Limited - Accounts to registrar (filleted) - small 18.2
Universal Property Interest Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNIVERSAL PROPERTY INTERESTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| UNIVERSAL PROPERTY INTERESTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| DIRECTORS: |
| SECRETARY: | A P Dickson |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 3365 The Pentagon |
| Century Way |
| Thorpe Park |
| Leeds |
| West Yorkshire |
| LS15 8ZB |
| BANKERS: |
| 8 Park Row |
| Leeds |
| West Yorkshire |
| LS1 5HD |
| UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085) |
| BALANCE SHEET |
| 31ST DECEMBER 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Revaluation reserve | 8 |
| Capital redemption reserve |
| Capital reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085) |
| BALANCE SHEET - continued |
| 31ST DECEMBER 2021 |
| 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 |
| UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| 1. | STATUTORY INFORMATION |
| Universal Property Interests Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Costs include costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
| Plant & machinery etc - 20% on cost |
| 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. |
| UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Investment properties |
| In accordance with Statement of Standard of Accounting Practice No. 19, the company's properties are included in the Balance Sheet at their open market values. The surpluses or deficits on revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties. Leasehold investment properties are not amortised where the unexpired term is over twenty years. The policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the Financial Statements may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1st January 2021 |
| Disposals | ( |
) | ( |
) |
| Revaluations |
| At 31st December 2021 |
| DEPRECIATION |
| At 1st January 2021 |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31st December 2021 |
| NET BOOK VALUE |
| At 31st December 2021 |
| At 31st December 2020 |
| The freehold investment properties were revalued on 31st December 2021 by the directors on the basis of a fair market value of the freehold. On a historical cost basis, freehold investment properties would have been included at £68,356 (2020: £68,356). |
| UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 31st December 2021 is represented by: |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| Valuation in 1994 | 7,942 | - | 7,942 |
| Valuation in 1994 | 9,058 | - | 9,058 |
| Valuation in 1996 | 11,500 | - | 11,500 |
| Valuation in 1998 | 60,414 | - | 60,414 |
| Valuation in 2021 | 190,086 | 1,124 | 191,210 |
| 279,000 | 1,124 | 280,124 |
| If freehold investment properties had not been revalued they would have been included at the following historical cost: |
| 2021 | 2020 |
| £ | £ |
| Cost | 68,356 | 68,356 |
| Freehold investment properties were valued on an open market basis on 31st December 2001 by the directors . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| 'A' ordinary shares | £1 | 4,000 | 4,000 |
| 'B' ordinary shares | £1 | 18,691 | 18,691 |
| 22,691 | 22,691 |
| The 'A' and 'B' shares rank equally for dividends and return of capital in a winding up. The 'A' shares confer on the holders one vote for each share held and the holders of 'B' shares are not entitled to vote at meetings. |
| UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2021 |
| 8. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1st January 2021 |
| Revaluation | 190,086 |
| Deferred tax | (28,501 | ) |
| At 31st December 2021 |