0
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
475,000
475,000
475,000
xbrli:pure
xbrli:shares
iso4217:GBP
11275000
2023-04-01
2024-03-31
11275000
2024-03-31
11275000
2023-03-31
11275000
2022-04-01
2023-03-31
11275000
2023-03-31
11275000
2022-03-31
11275000
bus:Director1
2023-04-01
2024-03-31
11275000
core:WithinOneYear
2024-03-31
11275000
core:WithinOneYear
2023-03-31
11275000
core:AfterOneYear
2023-03-31
11275000
core:ShareCapital
2024-03-31
11275000
core:ShareCapital
2023-03-31
11275000
core:RevaluationReserve
2024-03-31
11275000
core:RevaluationReserve
2023-03-31
11275000
core:RetainedEarningsAccumulatedLosses
2024-03-31
11275000
core:RetainedEarningsAccumulatedLosses
2023-03-31
11275000
core:CostValuation
core:Non-currentFinancialInstruments
2024-03-31
11275000
core:Non-currentFinancialInstruments
2024-03-31
11275000
core:Non-currentFinancialInstruments
2023-03-31
11275000
bus:SmallEntities
2023-04-01
2024-03-31
11275000
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
11275000
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
11275000
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
11275000
bus:FullAccounts
2023-04-01
2024-03-31
COMPANY REGISTRATION NUMBER:
11275000
UNDERHILL PROPERTIES (HALIFAX) LIMITED |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
UNDERHILL PROPERTIES (HALIFAX) LIMITED |
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2024
FIXED ASSETS
Investments |
4 |
|
475,000 |
|
475,000 |
|
|
|
|
|
|
CURRENT ASSETS
Debtors: due within one year |
5 |
404 |
|
822 |
|
Cash at bank and in hand |
5,554 |
|
1,835 |
|
|
------- |
|
------- |
|
|
5,958 |
|
2,657 |
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
6 |
398,640 |
|
263,133 |
|
|
---------- |
|
---------- |
|
NET CURRENT LIABILITIES |
|
392,682 |
|
260,476 |
|
|
---------- |
|
---------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
82,318 |
|
214,524 |
|
|
|
|
|
|
CREDITORS: amounts falling due after more than one year |
7 |
|
– |
|
135,000 |
|
|
|
|
|
|
PROVISIONS |
|
11,192 |
|
11,192 |
|
|
--------- |
|
---------- |
NET ASSETS |
|
71,126 |
|
68,332 |
|
|
--------- |
|
---------- |
|
|
|
|
|
UNDERHILL PROPERTIES (HALIFAX) LIMITED |
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 March 2024
CAPITAL AND RESERVES
Called up share capital |
|
100 |
|
100 |
Revaluation reserve |
|
47,718 |
|
47,718 |
Profit and loss account |
|
23,308 |
|
20,514 |
|
|
--------- |
|
--------- |
SHAREHOLDERS FUNDS |
|
71,126 |
|
68,332 |
|
|
--------- |
|
--------- |
|
|
|
|
|
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 statement of comprehensive income has not been delivered.
For the year ending 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:
-
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
.
These financial statements were approved by the
board of directors
and authorised for issue on
8 October 2024
, and are signed on behalf of the board by:
Company registration number:
11275000
UNDERHILL PROPERTIES (HALIFAX) LIMITED |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 MARCH 2024
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the total rents receivable during the period.
Taxation
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.
Investments
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4.
INVESTMENTS
|
Investments |
|
£ |
Cost |
|
At 1 April 2023 and 31 March 2024 |
475,000 |
|
---------- |
Impairment |
|
At 1 April 2023 and 31 March 2024 |
– |
|
---------- |
|
|
Carrying amount |
|
At 31 March 2024 |
475,000 |
|
---------- |
At 31 March 2023 |
475,000 |
|
---------- |
|
|
The directors have reviewed the fair value of the investment properties and consider this to be £475,000.
5.
DEBTORS
Debtors falling due within one year are as follows:
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
404 |
822 |
|
---- |
---- |
|
|
|
6.
CREDITORS:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
135,000 |
– |
Corporation tax |
655 |
605 |
Other creditors |
262,985 |
262,528 |
|
---------- |
---------- |
|
398,640 |
263,133 |
|
---------- |
---------- |
|
|
|
The bank loan of £135,000 is secured on some of the investment properties.
7.
CREDITORS:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
– |
135,000 |
|
---- |
---------- |
|
|
|
The bank loan of £135,000 is secured on some of the investment properties.
8.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year a director had an unsecured interest free loan with the company. The director's loan account was in credit throughout the year and is repayable on demand.