Registered number
12471879
YUZ PROPERTIES LIMITED
Unaudited Filleted Accounts
28 February 2022
YUZ PROPERTIES LIMITED
Registered number: 12471879
Balance Sheet
as at 28 February 2022
Notes 2022 2021
£ £
Fixed assets
Investments 3 353,805 353,805
Current assets
Debtors 4 8,650 -
Cash at bank and in hand 835 8,165
9,485 8,165
Creditors: amounts falling due within one year 5 (1,260) (720)
Net current assets 8,225 7,445
Total assets less current liabilities 362,030 361,250
Creditors: amounts falling due after more than one year 6 (363,823) (363,797)
Net liabilities (1,793) (2,547)
Capital and reserves
Called up share capital 100 100
Profit and loss account (1,893) (2,647)
Shareholders' funds (1,793) (2,547)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
…........................
Mr Can Yuzudik
Director
Approved by the board on 29 July 2022
YUZ PROPERTIES LIMITED
Notes to the Accounts
for the year ended 28 February 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is represented by rent received during the year.
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company - -
3 Investments
Investment
Property
£
Cost
At 1 March 2021 353,805
At 28 February 2022 353,805
4 Debtors 2022 2021
£ £
Trade debtors 1,410 -
Other debtors 7,240 -
8,650 -
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 540 300
Other creditors 720 420
1,260 720
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 250,804 250,155
Other creditors 113,019 113,642
363,823 363,797
7 Loans 2022 2021
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 250,804 250,155
Secured bank loans 250,804 250,155
Loan is secured against the investment property.
8 Other information
YUZ PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Studio 6
6 Hornsey Street
London
N7 8GR
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