Registered number
03627234
UK COMMERCIAL PROPERTIES LIMITED
Filleted Accounts
31 October 2023
UK COMMERCIAL PROPERTIES LIMITED
Registered number: 03627234
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 335,000 295,512
Current assets
Debtors 4 256,053 256,053
Cash at bank and in hand 7,615 9,284
263,668 265,337
Creditors: amounts falling due within one year 5 (34,655) (35,539)
Net current assets 229,013 229,798
Total assets less current liabilities 564,013 525,310
Creditors: amounts falling due after more than one year 6 (73,243) (89,915)
Provisions for liabilities (7,503) -
Net assets 483,267 435,395
Capital and reserves
Called up share capital 1 1
Revaluation reserve 8 31,985 -
Profit and loss account 451,281 435,394
Shareholders' funds 483,267 435,395
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.
Shakoor Ahmed
Director
Approved by the board on 10 July 2024
UK COMMERCIAL PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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 by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 November 2022 295,512
Revaluation 39,488
At 31 October 2023 335,000
4 Debtors 2023 2022
£ £
Amounts owed to related party 256,053 256,053
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 22,720 22,720
Trade creditors - 668
Taxation and social security costs 3,732 3,952
Other creditors 8,203 8,199
34,655 35,539
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 73,243 89,915
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 95,963 112,635
Bank loans are secured on Investment assets.
8 Revaluation reserve 2023 2022
£ £
Gain on revaluation of land and buildings 39,488 -
Deferred taxation arising on the revaluation of land and buildings (7,503) -
At 31 October 2023 31,985 -
9 Other information
UK COMMERCIAL PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
55 City Road,
Cardiff,
Wales,
CF24 3BL
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