Company registration number 09422659 (England and Wales)
UPLANDS INVESTMENTS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 FEBRUARY 2023
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
UPLANDS INVESTMENTS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
UPLANDS INVESTMENTS LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,615
2,388
Current assets
Cash at bank and in hand
711,883
744,517
Creditors: amounts falling due within one year
4
(624,419)
(649,382)
Net current assets
87,464
95,135
Total assets less current liabilities
90,079
97,523
Provisions for liabilities
(454)
Net assets
90,079
97,069
Capital and reserves
Called up share capital
100
100
Distributable profit and loss reserves
89,979
96,969
Total equity
90,079
97,069
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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 7 August 2023 and are signed on its behalf by:
Mr P C Sinden
Director
Company Registration No. 09422659
UPLANDS INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 2 -
1
Accounting policies
Company information
Uplands Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brackley Close, Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.
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.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received from tenant's of the company's investment property.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Furniture and equipment
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.5
Taxation
Current tax
Current tax is recognised on taxable profit for the current and, where not previously recognised, past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
UPLANDS INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Furniture and equipment
£
Cost or valuation
At 1 March 2022
10,600
Additions
1,099
At 28 February 2023
11,699
Depreciation and impairment
At 1 March 2022
8,212
Depreciation charged in the year
872
At 28 February 2023
9,084
Carrying amount
At 28 February 2023
2,615
At 28 February 2022
2,388
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
40
Taxation and social security
8,813
Other creditors
624,379
640,569
624,419
649,382