UPL Management (Property) Limited - Accounts to registrar (filleted) - small 23.2.5
UPL Management (Property) Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 June 2023 |
| for |
| UPL Management (Property) Limited |
| UPL Management (Property) Limited (Registered number: 08110841) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2023 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| UPL Management (Property) Limited |
| Company Information |
| for the Year Ended 30 June 2023 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 123 Eastern Avenue |
| Ilford |
| Essex |
| IG4 5AN |
| UPL Management (Property) Limited (Registered number: 08110841) |
| Statement of Financial Position |
| 30 June 2023 |
| 30.6.23 | 30.6.22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank | 6 |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| UPL Management (Property) Limited (Registered number: 08110841) |
| Statement of Financial Position - continued |
| 30 June 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| UPL Management (Property) Limited (Registered number: 08110841) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2023 |
| 1. | STATUTORY INFORMATION |
| UPL Management (Property) Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rents and management fees receivable during the period. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| 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. The surplus or deficit on revaluation is recognised in the profit and loss account. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2022 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and |
| property | fittings | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 July 2022 |
| Additions |
| Revaluations |
| At 30 June 2023 |
| DEPRECIATION |
| At 1 July 2022 |
| Charge for year |
| At 30 June 2023 |
| NET BOOK VALUE |
| At 30 June 2023 |
| At 30 June 2022 |
| UPL Management (Property) Limited (Registered number: 08110841) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 30 June 2023 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 2017 | 874,371 | - | 874,371 |
| Valuation in 2020 | (22,000 | ) | - | (22,000 | ) |
| Valuation in 2021 | (278,000 | ) | - | (278,000 | ) |
| Valuation in 2022 | 185,000 | - | 185,000 |
| Valuation in 2023 | 41,000 | - | 41,000 |
| Cost | 2,015,629 | 8,596 | 2,024,225 |
| 2,816,000 | 8,596 | 2,824,596 |
| The properties were valued by the director, Mr A S Uppal who holds no qualifications in the property valuation but has extensive experience and knowledge of properties in the area. No formal valuation was obtained and in the opinion of the director, the market value of the investment properties at the year end will not differ materially from the above valuation. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.23 | 30.6.22 |
| £ | £ |
| Other debtors |
| 6. | CASH AT BANK |
| Cash at bank include client account balances of £254,248 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.23 | 30.6.22 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.6.23 | 30.6.22 |
| £ | £ |
| Other creditors |
| 9. | PROVISIONS FOR LIABILITIES |
| 30.6.23 | 30.6.22 |
| £ | £ |
| Deferred tax | 200,092 | 144,280 |
| UPL Management (Property) Limited (Registered number: 08110841) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2023 |
| 9. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 July 2022 |
| Revaluation | 55,812 |
| Balance at 30 June 2023 |
| 10. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 July 2022 |
| Profit for the year |
| Surplus on property valuation | 41,000 |
| At 30 June 2023 |
| Reserves include £600,279 in respect of unrealised profits which will not be available for distribution until realised. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is A S Uppal. |