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COMPANY REGISTRATION NUMBER: 05336738
United Business & Leisure (Properties) Ltd
Unaudited financial statements
31 October 2023
United Business & Leisure (Properties) Ltd
Statement of financial position
31 October 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
31,342
32,243
Current assets
Stocks
6,800
Debtors
6
2,239,470
2,257,162
Cash at bank and in hand
827,703
881,885
-----------
-----------
3,073,973
3,139,047
Prepayments and accrued income
4,963
Creditors: Amounts falling due within one year
7
( 33,618)
( 26,143)
-----------
-----------
Net current assets
3,045,318
3,112,904
-----------
-----------
Total assets less current liabilities
3,076,660
3,145,147
Accruals and deferred income
( 3,137)
( 2,989)
-----------
-----------
Net assets
3,073,523
3,142,158
-----------
-----------
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss account
3,072,523
3,141,158
-----------
-----------
Shareholders funds
3,073,523
3,142,158
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
United Business & Leisure (Properties) Ltd
Statement of financial position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 25 July 2024 , and are signed on behalf of the board by:
Mrs M Tuddenham
Director
Company registration number: 05336738
United Business & Leisure (Properties) Ltd
Notes to the financial statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Carpenters Barn, 45a Norwich Common, Wymondham, NR18 0SW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents the amount of goods and services provided during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
20% straight line
Equipment
-
20% straight line
L'hold Property Improvement
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 5 (2022: 5 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
L'hold Property Improvement
Total
£
£
£
£
£
Cost
At 1 November 2022
27,321
3,569
3,664
17,346
51,900
Additions
828
828
Disposals
( 1,455)
( 1,455)
-------
------
------
-------
-------
At 31 October 2023
27,321
3,569
3,037
17,346
51,273
-------
------
------
-------
-------
Depreciation
At 1 November 2022
438
1,873
17,346
19,657
Charge for the year
714
497
1,211
Disposals
( 937)
( 937)
-------
------
------
-------
-------
At 31 October 2023
1,152
1,433
17,346
19,931
-------
------
------
-------
-------
Carrying amount
At 31 October 2023
27,321
2,417
1,604
31,342
-------
------
------
-------
-------
At 31 October 2022
27,321
3,131
1,791
32,243
-------
------
------
-------
-------
6. Debtors
2023
2022
£
£
Trade debtors
4,800
1,009
Other debtors
2,234,670
2,256,153
-----------
-----------
2,239,470
2,257,162
-----------
-----------
7. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
2,344
1,574
Social security and other taxes
8,523
1,918
Other creditors
22,751
22,651
-------
-------
33,618
26,143
-------
-------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
------
------
------
------
9. Directors' advances, credits and guarantees
As at 31 October 2023, 3 directors owed the company a combined £12,009 (2022: £11,602). Interest is charged at the official HMRC rate on balances exceeding £10,000.