Registered number
03448931
United Property Developers Ltd
Filleted Accounts
31 March 2023
United Property Developers Ltd
Registered number: 03448931
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,996,708 1,996,761
Current assets
Debtors 4 750 750
Cash at bank and in hand 107,841 106,318
108,591 107,068
Creditors: amounts falling due within one year 5 (284,465) (290,660)
Net current liabilities (175,874) (183,592)
Total assets less current liabilities 1,820,834 1,813,169
Creditors: amounts falling due after more than one year 6 (874,675) (904,675)
Net assets 946,159 908,494
Capital and reserves
Called up share capital 25 25
Revaluation reserve 7 1,298,169 1,298,169
Profit and loss account (352,035) (389,700)
Shareholder's funds 946,159 908,494
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 member has 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.
Angelo Marini
Director
Approved by the board on 29 March 2024
United Property Developers Ltd
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset by reducing balance method, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 1,996,552 5,374 2,001,926
At 31 March 2023 1,996,552 5,374 2,001,926
Depreciation
At 1 April 2022 - 5,165 5,165
Charge for the year - 53 53
At 31 March 2023 - 5,218 5,218
Net book value
At 31 March 2023 1,996,552 156 1,996,708
At 31 March 2022 1,996,552 209 1,996,761
4 Debtors 2023 2022
£ £
Other debtors 750 750
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 24,961 24,961
Director's current account 201,023 221,023
Other loan 4,717 4,717
Taxation and social security costs 42,207 29,902
Other creditors 11,557 10,057
284,465 290,660
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 854,449 864,449
Other creditors 20,226 40,226
874,675 904,675
7 Revaluation reserve 2023 2022
£ £
At 1 April 2022 1,298,169 1,298,169
At 31 March 2023 1,298,169 1,298,169
8 Other information
United Property Developers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
34 Gorringe Park Avenue
Mitcham
Surrey
CR4 2DG
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