Upperguild Limited |
Registered number: |
02080571 |
Balance Sheet |
as at 28 February 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
970,082 |
|
|
877,373 |
|
Current assets |
Debtors |
4 |
|
1,804,859 |
|
|
1,937,751 |
Investments held as current assets |
5 |
|
24,300 |
|
|
24,531 |
Cash at bank and in hand |
|
|
2,616 |
|
|
930 |
|
|
|
1,831,775 |
|
|
1,963,212 |
|
Creditors: amounts falling due within one year |
6 |
|
(72,414) |
|
|
(58,025) |
|
Net current assets |
|
|
|
1,759,361 |
|
|
1,905,187 |
|
Total assets less current liabilities |
|
|
|
2,729,443 |
|
|
2,782,560 |
|
Creditors: amounts falling due after more than one year |
7 |
|
|
(217,420) |
|
|
(235,678) |
|
Provisions for liabilities |
|
|
|
- |
|
|
(2,162) |
|
|
Net assets |
|
|
|
2,512,023 |
|
|
2,544,720 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
2,511,923 |
|
|
2,544,620 |
|
Shareholders' funds |
|
|
|
2,512,023 |
|
|
2,544,720 |
|
|
|
|
|
|
|
|
The directors are 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 directors acknowledge their 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. |
|
|
|
|
J I Sternlight |
Director |
Approved by the board on 3 April 2024 |
|
Upperguild Limited |
Notes to the Accounts |
for the year ended 28 February 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 |
|
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Investment properties are leased to tenants under operating leases. The rental income receivable under these leases is recognised through profit or loss on a straight-line basis over the term of the lease. Since the risks and rewards of ownership have not been transferred to the lessee, the assets held under these leases continue to be recognised in the company's financial statements. |
|
|
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 evenly over its expected useful life, as follows: |
|
|
Fixtures, fittings, tools and equipment |
20% reducing balance |
|
|
Investments |
|
Investment property is carried at fair value determined 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 through profit or loss. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings for the period. |
|
|
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. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed / directors of the company |
4 |
|
4 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Investment property |
|
Plant and machinery etc |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 March 2022 |
877,158 |
|
7,632 |
|
884,790 |
|
Additions |
92,752 |
|
- |
|
92,752 |
|
At 28 February 2023 |
969,910 |
|
7,632 |
|
977,542 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 March 2022 |
- |
|
7,417 |
|
7,417 |
|
Charge for the year |
- |
|
43 |
|
43 |
|
At 28 February 2023 |
- |
|
7,460 |
|
7,460 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 28 February 2023 |
969,910 |
|
172 |
|
970,082 |
|
At 28 February 2022 |
877,158 |
|
215 |
|
877,373 |
|
|
|
|
|
|
|
|
|
|
|
Investment property: |
2023 |
|
2022 |
£ |
£ |
|
Historical cost |
854,247 |
|
761,495 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
854,247 |
|
761,495 |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Other debtors |
1,804,859 |
|
1,937,751 |
|
|
|
|
|
|
|
|
|
|
5 |
Investments held as current assets |
2023 |
|
2022 |
£ |
£ |
|
Fair value |
|
Listed investments |
24,300 |
|
24,531 |
|
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
18,258 |
|
18,258 |
|
Taxation and social security costs |
97 |
|
160 |
|
Accruals and deferred income |
37,004 |
|
34,403 |
|
Other creditors |
17,055 |
|
5,204 |
|
|
|
|
|
|
72,414 |
|
58,025 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans |
217,420 |
|
235,678 |
|
|
|
|
|
|
|
|
|
|
8 |
Related party transactions |
|
|
Debtors/(creditors) includes amounts owed by/(to) related undertakings as follows: |
|
|
|
|
|
|
2023 |
|
2022 |
£ |
£ |
|
Dafaday Management Company Limited |
(3,100) |
|
183,545 |
|
Alpha Developments Direct Limited |
57,844 |
|
77,593 |
|
Castlewell Homes Limited |
17,095 |
|
17,795 |
|
Dafaday Property Services Limited |
|
|
|
551,446 |
|
597,574 |
|
SITS (Blackheath) Ltd |
|
|
|
128,628 |
|
128,628 |
|
Spearglade Limited |
962,917 |
|
879,147 |
|
The Rabbi Moshe & Leah Dermer Foundation |
|
86,929 |
|
84,029 |
|
|
|
|
|
|
|
|
1,801,759 |
|
1,968,311 |
|
|
|
|
|
|
|
|
|
|
9 |
Reserves |
|
The Profit and Loss Account includes non-distributable reserves of £115,663 (2022 £115,663) |
|
9 |
Other information |
|
|
Upperguild Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Devonshire House |
|
582 Honeypot Lane |
|
Stanmore |
|
HA7 1JS |