UK PROPERTY REPAIR GROUP LIMITED

Company Registration Number:
07376871 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

UK PROPERTY REPAIR GROUP LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

UK PROPERTY REPAIR GROUP LIMITED

Balance sheet

As at 30 June 2023


Notes

2023

2022


£

£
Fixed assets
Investments: 3 1,083,000 1,430,000
Total fixed assets: 1,083,000 1,430,000
Current assets
Cash at bank and in hand: 1,349 243
Total current assets: 1,349 243
Creditors: amounts falling due within one year:   (1,158,373) (1,154,373)
Net current assets (liabilities): (1,157,024) (1,154,130)
Total assets less current liabilities: (74,024) 275,870
Total net assets (liabilities): (74,024) 275,870
Capital and reserves
Called up share capital: 651,002 651,002
Revaluation reserve:41,082,0001,429,000
Profit and loss account: (1,807,026) (1,804,132)
Shareholders funds: (74,024) 275,870

The notes form part of these financial statements

UK PROPERTY REPAIR GROUP LIMITED

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 07 March 2024
and signed on behalf of the board by:

Name: Malcolm Thornton
Status: Director

The notes form part of these financial statements

UK PROPERTY REPAIR GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods or services supplied, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Other accounting policies

BASIS OF PREPARATIONThe financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets.The financial statements are prepared in sterling, which is the functional currency of the company.GOING CONCERNThe director of the company is of the opinion that the company has and will continue to have the support of its major creditor, the company’s subsidiary undertaking, for the foreseeable future. In light of this, the director considers it appropriate to adopt the going concern basis in the preparation of these financial statements. CONSOLIDATIONThe entity has taken advantage of the option not to prepare consolidated financial statements contained in section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.FIXED ASSET INVESTMENTSInvestments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated losses.Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at transaction price. At each reporting date the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impractical to measure fair value reliably without undue cost or effort, the cost model will be adopted.Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised within profit or loss. All other investments held as fixed assets are initially recorded at cost and are subsequently stated at cost less any accumulated impairment losses.IMPAIRMENTA review for indicators or impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. FINANCIAL INSTRUMENTSA financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

UK PROPERTY REPAIR GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

UK PROPERTY REPAIR GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Fixed investments

Shares in group undertakings.

UK PROPERTY REPAIR GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Revaluation reserve

2023
£
Balance at 01 July 2022 1,429,000
Surplus or deficit after revaluation (347,000)
Balance at 30 June 2023 1,082,000

UK PROPERTY REPAIR GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Loans to directors

Name of director receiving advance or credit: M Thornton
Description of the loan: The loan is unsecured, interest free and repayable on demand.
£
Balance at 01 July 2022 116,148
Advances or credits made: 0
Advances or credits repaid: 22,000
Balance at 30 June 2023 94,148

UK PROPERTY REPAIR GROUP LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2023

6. Related party transactions

Name of the related party: MHT Investments Limited
Relationship:
Under common control.
Description of the Transaction: The loan is unsecured, interest free and repayable on demand.
£
Balance at 01 July 2022 191,946
Balance at 30 June 2023 191,946
Name of the related party: Stronghold Estates Limited
Relationship:
Under common control.
Description of the Transaction: The loan is unsecured, interest free and repayable on demand.
£
Balance at 01 July 2022 30,705
Balance at 30 June 2023 30,705