Registered number
09410211
Unisolve Properties Limited
Filleted Accounts
31 March 2023
Unisolve Properties Limited
Registered number: 09410211
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Investment properties 266,578 266,578
Current assets
Debtors 3 4,675 1,555
Cash at bank and in hand 572 313
5,247 1,868
Creditors: amounts falling due within one year 4 (56,008) (55,681)
Net current liabilities (50,761) (53,813)
Total assets less current liabilities 215,817 212,765
Creditors: amounts falling due after more than one year 5 (198,900) (196,999)
Net assets 16,917 15,766
Capital and reserves
Called up share capital 40 40
Profit and loss account 16,877 15,726
Shareholders' funds 16,917 15,766
The director is 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 director acknowledges his 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.
S Nagpal
Director
Approved by the board on 22 December 2023
Unisolve Properties Limited
Notes to the Accounts
for the year ended 31 March 2023
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 other than where additional disclosure is required to show a true and fair view).
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
Turnover
Turnover includes rent receivable and is measured at the fair value of the consideration received or receivable, net of discounts.
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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 2023 2022
Number Number
Average number of persons employed (including director) 1 1
The valuation of investment property was made by the director at the year end, on open market basis. No depreciation is provided on the investment property.
3 Debtors 2023 2022
£ £
Other debtors 4,675 1,555
4 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings 54,545 53,645
Taxation and social security costs 270 468
Other creditors 1,193 1,568
56,008 55,681
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan 198,900 196,999
6 Loans 2023 2022
£ £
Creditors include:
Secured bank loan 198,900 196,999
The bank loan is secured by a debenture over the assets of the company.
7 Related party transactions
The director has given personal guarantee for the secured loan amount included in creditors falling due after one year.
8 Other information
Unisolve Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
10 Woodfield Gardens, Hemel Hempstead, HP3 8LZ
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