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Registered Number: 11438538
England

 

 

 

ULLSWATER PROPERTIES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Accountants report
You consider that the company is exempt from an audit for the year ended 31 March 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 



....................................................
Akhter's Limited Accountants and Business Advisors
Akhter House
64 Castle Boulevard
Nottingham
NG7 1FN
31 July 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,227,930    1,078,880 
1,227,930    1,078,880 
Current assets      
Debtors 616    140 
Cash at bank and in hand 38,385    76,623 
39,001    76,763 
Creditors: amount falling due within one year (25,671)   (21,180)
Net current assets 13,330    55,583 
 
Total assets less current liabilities 1,241,260    1,134,463 
Creditors: amount falling due after more than one year (890,173)   (793,673)
Net assets 351,087    340,790 
 

Capital and reserves
     
Called up share capital 4 100    100 
Share premium account 344,469    344,469 
Profit and loss account 6,518    (3,779)
Shareholders' funds 351,087    340,790 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 31 July 2024 and were signed on its behalf by:


-------------------------------
Dr Khalid Hussain Latief
Director
2
General Information
Ullswater Properties Limited is a private company, limited by shares, registered in England, registration number 11438538, registration address 14 Braefell Close,, West Bridgford, Nottingham,, NG2 6SS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Rents Received
Rent received comprises the value of rent agreed with the tenants on accrual basis.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 April 2023 1,078,880    1,078,880 
Additions 149,050    149,050 
Disposals  
At 31 March 2024 1,227,930    1,227,930 
Depreciation
At 01 April 2023  
Charge for year  
On disposals  
At 31 March 2024  
Net book values
Closing balance as at 31 March 2024 1,227,930    1,227,930 
Opening balance as at 01 April 2023 1,078,880    1,078,880 


4.

Share Capital

Authorised
100 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
DR K Latief Associates Ltd(102,138)(102,138)
Latief Group Ltd(234,247)(137,747)

The company has directors in common with DR K Latief Associates Ltd. At the balance sheet date, the company owed an interest free loan to DR K Latief Associates Ltd, included within creditors due after more than one year.
The company has directors in common with Latief Group Ltd. At the balance sheet date, the company owed an interest free loan to Latief Group Ltd, included within creditors due after more than one year.
3