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REGISTERED NUMBER: 11941064 (England and Wales)















Financial Statements for the Year Ended 30 April 2023

for

Usher Property Management Limited

Usher Property Management Limited (Registered number: 11941064)

Contents of the Financial Statements
for the Year Ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Usher Property Management Limited

Company Information
for the Year Ended 30 April 2023







DIRECTOR: Mrs L J Usher





REGISTERED OFFICE: Flat 9 High Atlantic
Watergate Road
Newquay
Cornwall
TR7 3LX





REGISTERED NUMBER: 11941064 (England and Wales)





ACCOUNTANTS: CSL Partnership Limited
Chartered Certified Accountants
238 Station Road
Addlestone
Surrey
KT15 2PS

Usher Property Management Limited (Registered number: 11941064)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Investment property 4 425,000 312,717

CURRENT ASSETS
Debtors 5 - 31,552
Cash at bank 377 450
377 32,002
CREDITORS
Amounts falling due within one year 6 (113,441 ) (137,022 )
NET CURRENT LIABILITIES (113,064 ) (105,020 )
TOTAL ASSETS LESS CURRENT LIABILITIES 311,936 207,697

CREDITORS
Amounts falling due after more than one
year

7

(230,201

)

(230,201

)

PROVISIONS FOR LIABILITIES (20,486 ) -
NET ASSETS/(LIABILITIES) 61,249 (22,504 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 61,248 (22,505 )
61,249 (22,504 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Usher Property Management Limited (Registered number: 11941064)

Balance Sheet - continued
30 April 2023


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

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 18 October 2023 and were signed by:





Mrs L J Usher - Director


Usher Property Management Limited (Registered number: 11941064)

Notes to the Financial Statements
for the Year Ended 30 April 2023


1. STATUTORY INFORMATION

Usher Property Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue
Revenue represents amounts received from the rental of investment properties.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value.

Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Going concern
The shareholder of the company has indicated their willingness to financially support the company for the foreseeable future, therefore, the accounts have been prepared on a going concern basis.

Usher Property Management Limited (Registered number: 11941064)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 312,717
Revaluations 112,283
At 30 April 2023 425,000
NET BOOK VALUE
At 30 April 2023 425,000
At 30 April 2022 312,717

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2023 112,283
Cost 312,717
425,000

If investment properties had not been revalued they would have been included at the following historical cost:

30.4.23 30.4.22
£    £   
Cost 312,717 -

Investment properties were valued on an open market basis on 30 April 2023 by Michael Usher Sales & Lettings .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Other debtors - 26,322
Deferred tax asset - 5,230
- 31,552

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Other creditors 111,093 134,214
Directors' current accounts 1,369 1,859
Accrued expenses 979 949
113,441 137,022

Usher Property Management Limited (Registered number: 11941064)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.23 30.4.22
£    £   
Mortgages 230,201 230,201

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 230,201 230,201

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Other loans 230,201 230,201

Mortgages are secured by a fixed charge over the company's investment properties.

9. NON-REALISED RETAINED PROFITS

At the year end, total retained earnings of £61,248 includes non-distributable profits of £84,212.