Uptown Property Developments Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06904000 (England and Wales)

Uptown Property Developments Ltd

Abbreviated Unaudited Accounts

for the Year Ended 31 May 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

6

DIRECTORS:

N J McEnery

A B Marlow FCCA

SECRETARY:

Mrs J H Barnes

REGISTERED OFFICE:

14 Phoenix Park

Telford Way

Coalville

Leicestershire

LE67 3HB

REGISTERED NUMBER:

06904000 (England and Wales)

ACCOUNTANTS:

Marlow Proactive

14 Phoenix Park

Telford Way

Coalville

Leicestershire

LE67 3HB

FIXED ASSETS

Tangible assets

2

18,719

14,058

Investment property

3

1,210,256

1,135,109

1,228,975

1,149,167

CURRENT ASSETS

Stocks

723,542

322,223

Debtors

21,543

35,713

Cash at bank

24,462

551,620

769,547

909,556

CREDITORS

Amounts falling due within one year

44,513

144,470

NET CURRENT ASSETS

725,034

765,086

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,954,009

1,914,253

CREDITORS

Amounts falling due after more than one
year

4

677,401

580,627

NET ASSETS

1,276,608

1,333,626

CAPITAL AND RESERVES

Called up share capital

5

100

Revaluation reserve

750,000

Profit and loss account

526,508

583,526

SHAREHOLDERS' FUNDS

1,276,608

1,333,626

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 February 2017 and were signed on
its behalf by:

N J McEnery - Director

A B Marlow FCCA - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in market value is transferred to a revaluation reserve.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at

the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

31,933

Additions

47,293

Disposals

(54,551

)

At 31 May 2016

24,675

DEPRECIATION

At 1 June 2015

17,875

Charge for year

5,956

Eliminated on disposal

(17,875

)

At 31 May 2016

5,956

NET BOOK VALUE

At 31 May 2016

18,719

At 31 May 2015

14,058

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 June 2015

1,135,109

Additions

75,147

At 31 May 2016

1,210,256

NET BOOK VALUE

At 31 May 2016

1,210,256

At 31 May 2015

1,135,109

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

2016

2015

£

Repayable otherwise than by instalments

252,595

158,441

Repayable by instalments

341,498

355,518

594,093

513,959

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100