Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-02-01falseNo description of principal activity22falsetrue 9397958 2022-02-01 2023-01-31 9397958 2021-02-01 2022-01-31 9397958 2023-01-31 9397958 2022-01-31 9397958 c:Director1 2022-02-01 2023-01-31 9397958 c:Director2 2022-02-01 2023-01-31 9397958 c:RegisteredOffice 2022-02-01 2023-01-31 9397958 d:PlantMachinery 2022-02-01 2023-01-31 9397958 d:ComputerEquipment 2023-01-31 9397958 d:ComputerEquipment 2022-01-31 9397958 d:FreeholdInvestmentProperty 2022-02-01 2023-01-31 9397958 d:FreeholdInvestmentProperty 2023-01-31 9397958 d:FreeholdInvestmentProperty 2022-01-31 9397958 d:FreeholdInvestmentProperty 2 2022-02-01 2023-01-31 9397958 d:CurrentFinancialInstruments 2023-01-31 9397958 d:CurrentFinancialInstruments 2022-01-31 9397958 d:Non-currentFinancialInstruments 2023-01-31 9397958 d:Non-currentFinancialInstruments 2022-01-31 9397958 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 9397958 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 9397958 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 9397958 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 9397958 d:ShareCapital 2023-01-31 9397958 d:ShareCapital 2022-01-31 9397958 d:RetainedEarningsAccumulatedLosses 2023-01-31 9397958 d:RetainedEarningsAccumulatedLosses 2022-01-31 9397958 c:FRS102 2022-02-01 2023-01-31 9397958 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 9397958 c:FullAccounts 2022-02-01 2023-01-31 9397958 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure
Company registration number: 9397958







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2023


UNTITLED PROPERTIES LIMITED






































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UNTITLED PROPERTIES LIMITED
 


 
COMPANY INFORMATION


Directors
M Smith 
K A Smith 




Registered number
9397958



Registered office
Magna House 2nd Floor
18-32 London Road

Staines-Upon-Thames

Surrey

TW18 4BP




Trading Address
Windrush
Flaxton Road

Strensall

Yorkshire

YO32 5XQ






Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


UNTITLED PROPERTIES LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


UNTITLED PROPERTIES LIMITED
REGISTERED NUMBER:9397958



STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
3,173,944
3,682,000

  
3,173,944
3,682,000

Current assets
  

Debtors: amounts falling due within one year
 6 
3,512
11,714

Cash at bank and in hand
  
17,112
6,194

  
20,624
17,908

Creditors: amounts falling due within one year
 7 
(506,216)
(524,468)

Net current liabilities
  
 
 
(485,592)
 
 
(506,560)

Total assets less current liabilities
  
2,688,352
3,175,440

Creditors: amounts falling due after more than one year
 8 
(2,639,691)
(3,116,284)

Provisions for liabilities
  

Deferred tax
  
(35,789)
(35,789)

  
 
 
(35,789)
 
 
(35,789)

Net assets
  
12,872
23,367


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
12,772
23,267

  
12,872
23,367


Page 1

 


UNTITLED PROPERTIES LIMITED
REGISTERED NUMBER:9397958


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Smith
Director

Date: 18 October 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


UNTITLED PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Untitled Properties Limited is a private company, limited by shares, registered in England and Wales. The address of the registered office and principal place of business is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
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.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is generated by rent received from investment property and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 


UNTITLED PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery etc
-
33%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the director, with regular involvement of external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 


UNTITLED PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.7

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Plant and machinery etc

£



Cost or valuation


At 1 February 2022
663



At 31 January 2023

663



Depreciation


At 1 February 2022
663



At 31 January 2023

663



Net book value



At 31 January 2023
-



At 31 January 2022
-

Page 5

 


UNTITLED PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Investment property


Investment property

£



Valuation


At 1 February 2022
3,682,000


Disposals
(495,000)


Revaluation
(13,056)



At 31 January 2023
3,173,944

The 2023 valuations were made by the company directors, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
3,215,136
3,712,457

3,215,136
3,712,457


6.


Debtors

2023
2022
£
£


Trade debtors
-
8,394

Prepayments and accrued income
3,512
3,320

3,512
11,714



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
2,162
4,311

Other creditors
500,554
497,392

Accruals and deferred income
3,500
22,765

506,216
524,468


Page 6

 


UNTITLED PROPERTIES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
2,639,691
3,116,284

2,639,691
3,116,284


Other creditors represent finance provided by the ultimate parent company Flametree Investments Limited (Isle of Man) and are secured by way of fixed legal charges over the investment properties held in the company. Interest is charged and paid quarterly at a commercial rate on this loan.


9.


Related party transactions

At the year end, the company owed £299,225 (2022: £296,063) to M Smith and £201,328 (2022: £201,328) to K A Smith, directors of the company. No interest was chargeable on these loans, and they are not repayable on demand.

 
Page 7