Caseware UK (AP4) 2023.0.135 2023.0.135 false2023-01-01No description of principal activity00falsetruefalse NI044159 2023-01-01 2023-12-31 NI044159 2022-01-01 2022-12-31 NI044159 2023-12-31 NI044159 2022-12-31 NI044159 c:Director1 2023-01-01 2023-12-31 NI044159 d:Buildings 2023-12-31 NI044159 d:Buildings 2022-12-31 NI044159 d:CurrentFinancialInstruments 2023-12-31 NI044159 d:CurrentFinancialInstruments 2022-12-31 NI044159 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 NI044159 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 NI044159 d:ShareCapital 2023-12-31 NI044159 d:ShareCapital 2022-12-31 NI044159 d:OtherMiscellaneousReserve 2023-12-31 NI044159 d:OtherMiscellaneousReserve 2022-12-31 NI044159 d:RetainedEarningsAccumulatedLosses 2023-12-31 NI044159 d:RetainedEarningsAccumulatedLosses 2022-12-31 NI044159 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 NI044159 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 NI044159 c:OrdinaryShareClass1 2023-01-01 2023-12-31 NI044159 c:OrdinaryShareClass1 2023-12-31 NI044159 c:OrdinaryShareClass1 2022-12-31 NI044159 c:FRS102 2023-01-01 2023-12-31 NI044159 c:Audited 2023-01-01 2023-12-31 NI044159 c:FullAccounts 2023-01-01 2023-12-31 NI044159 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI044159 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI044159 5 2023-01-01 2023-12-31 NI044159 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: NI044159










Uni-Trunk Properties Limited










Financial statements

For the Year Ended 31 December 2023

 
Uni-Trunk Properties Limited
Registered number:NI044159

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
11,462,669
11,462,669

  
11,462,669
11,462,669

Current assets
  

Debtors: amounts falling due within one year
 5 
2,947,926
2,872,585

Cash at bank and in hand
 6 
1,262,649
1,534,445

  
4,210,575
4,407,030

Creditors: amounts falling due within one year
 7 
(4,624,275)
(4,685,050)

Net current liabilities
  
 
 
(413,700)
 
 
(278,020)

Total assets less current liabilities
  
11,048,969
11,184,649

Provisions for liabilities
  

Deferred tax
 8 
(122,214)
(121,879)

  
 
 
(122,214)
 
 
(121,879)

Net assets
  
10,926,755
11,062,770


Capital and reserves
  

Called up share capital 
 9 
100
100

Other reserves
  
3,429,824
3,429,824

Profit and loss account
  
7,496,831
7,632,846

  
10,926,755
11,062,770


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 April 2024.

D Morrow
Director

The notes on pages 2 to 8 form part of these financial statements.

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Page 1

 
Uni-Trunk Properties Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

1.


General information

The Company is a private company limited by shares, registered in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.
The presentation currency is that of sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors of Uni-Trunk Properties Limited have reviewed the appropriateness of the going concern assumption and consider that the company has sufficient resources to continue as a trading entity for the foreseeable future.
Accordingly, the directors believe that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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Uni-Trunk Properties Limited
 

Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Revenue

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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Uni-Trunk Properties Limited
 

Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

Tangible fixed assets

Investment property is carried at fair value determined annually by external valuers 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 in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

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Uni-Trunk Properties Limited
 

Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022: £NIL).


4.


Tangible fixed assets





Investment Properties

£



Cost or valuation


At 1 January 2023
11,462,669



At 31 December 2023

11,462,669






Net book value



At 31 December 2023
11,462,669



At 31 December 2022
11,462,669

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Page 5

 
Uni-Trunk Properties Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

5.


Debtors

2023
2022
£
£


Trade debtors
60,750
44,652

Amounts owed by group undertakings
2,887,176
2,733,433

Other debtors
-
94,500

2,947,926
2,872,585



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,262,649
1,534,445

1,262,649
1,534,445



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
4,399,603
4,399,603

Corporation tax
137,429
104,434

Other taxation and social security
78,081
50,467

Other creditors
-
121,861

Accruals and deferred income
9,162
8,685

4,624,275
4,685,050


The bank facilities are secured by way of an intercompany cross guarantee between Uni-Trunk Limited, Uni-Trunk Properties Limited and Vantrunk Limited. There is also an intercompany cross guarantee between Uni-Trunk Limited, Uni-Trunk Properties Limited and Vantrunk Limited including a fixed and floating charge over book debts and legal mortgages over the properties at Blaris Industrial Estate, Libsurn and Windmill Lane, Denton.

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Page 6

 
Uni-Trunk Properties Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

8.


Deferred taxation




2023


£






At beginning of year
(121,879)


Charged to profit or loss
(335)



At end of year
(122,214)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(122,214)
(121,879)

(122,214)
(121,879)


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022: 100) Ordinary shares of £1.00 each
100
100



10.


Related party transactions

Uni-Trunk Properties Limited is a company incorporated in Northern Ireland and is a subsidiary of Uni-Trunk Group Holdings Limited for which consolidated group financial statements are prepared.  Copies of the group financial statements can be obtained from Companies House.
The company is controlled by its board of directors.
Key management are considered to be the directors of the company.
Advantage has been taken of the exemption under FRS 102 Section 33.1A not to disclose transactions between wholly owned members of the group.


11.


Controlling party

The immediate parent company is Uni-Trunk Limited, a company registered in Northern Ireland and the ultimate parent company is Uni-Trunk Group Holdings Limited, a company registered in Northern Ireland. The ultimate controlling party is David Morrow.

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Page 7

 
Uni-Trunk Properties Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 December 2023

12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 17 April 2024 by Michael Nixon (Senior Statutory Auditor) on behalf of ASM (B) Limited.


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