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Registered number: 03288917
UAI Properties Ltd
Financial Statements
For The Year Ended 31 December 2023
Shabbir & Co
Chartered Certified Accountants
248 Brockley Road
London
SE4 2SF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 03288917
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 473,311 474,134
473,311 474,134
CURRENT ASSETS
Cash at bank and in hand 63,153 54,283
63,153 54,283
Creditors: Amounts Falling Due Within One Year 5 (312,789 ) (312,739 )
NET CURRENT ASSETS (LIABILITIES) (249,636 ) (258,456 )
TOTAL ASSETS LESS CURRENT LIABILITIES 223,675 215,678
PROVISIONS FOR LIABILITIES
Provisions For Charges (84,495 ) (84,495 )
NET ASSETS 139,180 131,183
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account 139,178 131,181
SHAREHOLDERS' FUNDS 139,180 131,183
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mohammad Yaqoob
Director
20th September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
UAI Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03288917 . The registered office is Unit 12, Heybridge Way, Off Leabridge Road, E10 7NQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises of rental income receivable in the year.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0%
Plant & Machinery 20% on Reducing Balance
Fixtures & Fittings 20% on Reducing Balance
Computer Equipment 20% on Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 404,178 16,758 63,594 738 485,268
Additions - 1,015 - - 1,015
As at 31 December 2023 404,178 17,773 63,594 738 486,283
Depreciation
As at 1 January 2023 - 9,888 980 266 11,134
Provided during the period - 1,577 167 94 1,838
As at 31 December 2023 - 11,465 1,147 360 12,972
Net Book Value
As at 31 December 2023 404,178 6,308 62,447 378 473,311
As at 1 January 2023 404,178 6,870 62,614 472 474,134
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors (1 ) -
Corporation tax 1,961 1,826
Other taxes and social security 1,453 553
NEST Pensions 321 321
Accruals and deferred income 1,320 1,320
Directors' loan accounts 307,735 308,719
312,789 312,739
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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