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REGISTERED NUMBER: 00411085 (England and Wales)










UNIVERSAL PROPERTY INTERESTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Balance Sheet 1 to 2

Notes to the Financial Statements 3 to 6


UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 349,000 279,000

CURRENT ASSETS
Debtors 5 782 639
Cash at bank 15,078 15,143
15,860 15,782
CREDITORS
Amounts falling due within one year 6 7,712 7,567
NET CURRENT ASSETS 8,148 8,215
TOTAL ASSETS LESS CURRENT LIABILITIES 357,148 287,215

PROVISIONS FOR LIABILITIES 46,001 28,501
NET ASSETS 311,147 258,714

CAPITAL AND RESERVES
Called up share capital 7 22,691 22,691
Revaluation reserve 8 234,643 182,143
Capital redemption reserve 6,309 6,309
Capital reserve 3,803 3,803
Retained earnings 43,701 43,768
SHAREHOLDERS' FUNDS 311,147 258,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085)

BALANCE SHEET - continued
31ST DECEMBER 2023


The 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th July 2024 and were signed on its behalf by:




A E Keech - Director



A P Dickson - Director


UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Universal Property Interests Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00411085

Registered office: Mill House
Hawksworth Road
Horsforth
Leeds
LS18 4JP

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Costs include costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant & machinery etc - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Investment properties
In accordance with Statement of Standard of Accounting Practice No. 19, the company's properties are included in the Balance Sheet at their open market values. The surpluses or deficits on revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties. Leasehold investment properties are not amortised where the unexpired term is over twenty years. The policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the Financial Statements may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1st January 2023 279,000 1,124 280,124
Revaluations 70,000 - 70,000
At 31st December 2023 349,000 1,124 350,124
DEPRECIATION
At 1st January 2023
and 31st December 2023 - 1,124 1,124
NET BOOK VALUE
At 31st December 2023 349,000 - 349,000
At 31st December 2022 279,000 - 279,000

UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st December 2023 is represented by:

Freehold Plant and
property machinery Totals
£    £    £   
Valuation in 1994 7,942 - 7,942
Valuation in 1994 9,058 - 9,058
Valuation in 1996 11,500 - 11,500
Valuation in 1998 60,414 - 60,414
Valuation in 2021 190,086 1,124 191,210
Valuation in 2023 70,000 - 70,000
349,000 1,124 350,124

If freehold investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 68,356 68,356

Freehold investment properties were valued on an open market basis on 31st December 2001 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 782 639

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 1,049 1,143
Other creditors 6,663 6,424
7,712 7,567

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4,000 'A' ordinary shares £1 4,000 4,000
18,691 'B' ordinary shares £1 18,691 18,691
22,691 22,691

The 'A' and 'B' shares rank equally for dividends and return of capital in a winding up. The 'A' shares confer on the holders one vote for each share held and the holders of 'B' shares are not entitled to vote at meetings.


UNIVERSAL PROPERTY INTERESTS LIMITED (REGISTERED NUMBER: 00411085)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


8. RESERVES
Revaluation
reserve
£   
At 1st January 2023 182,143
Revaluation 52,500

At 31st December 2023 234,643