IRIS Accounts Production v24.2.0.383 03709357 director 1.4.23 31.3.24 31.3.24 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037093572023-03-31037093572024-03-31037093572023-04-012024-03-31037093572022-03-31037093572022-04-012023-03-31037093572023-03-3103709357ns15:EnglandWales2023-04-012024-03-3103709357ns14:PoundSterling2023-04-012024-03-3103709357ns10:Director12023-04-012024-03-3103709357ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103709357ns10:SmallEntities2023-04-012024-03-3103709357ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103709357ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103709357ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103709357ns10:FullAccounts2023-04-012024-03-3103709357ns10:OrdinaryShareClass12023-04-012024-03-3103709357ns10:RegisteredOffice2023-04-012024-03-3103709357ns5:CurrentFinancialInstruments2024-03-3103709357ns5:CurrentFinancialInstruments2023-03-3103709357ns5:ShareCapital2024-03-3103709357ns5:ShareCapital2023-03-3103709357ns5:CapitalRedemptionReserve2024-03-3103709357ns5:CapitalRedemptionReserve2023-03-3103709357ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3103709357ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3103709357ns5:RetainedEarningsAccumulatedLosses2024-03-3103709357ns5:RetainedEarningsAccumulatedLosses2023-03-3103709357ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-04-012024-03-3103709357ns5:LeaseholdImprovements2023-04-012024-03-3103709357ns5:LandBuildings2023-03-3103709357ns5:LeaseholdImprovements2023-03-3103709357ns5:LandBuildings2023-04-012024-03-3103709357ns5:LandBuildings2024-03-3103709357ns5:LeaseholdImprovements2024-03-3103709357ns5:LandBuildings2023-03-3103709357ns5:LeaseholdImprovements2023-03-3103709357ns5:CostValuation2023-03-3103709357ns5:DisposalsRepaymentsInvestments2024-03-3103709357ns5:CostValuation2024-03-3103709357ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3103709357ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103709357ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-03-3103709357ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-03-3103709357ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 03709357 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

UPFIELDS HOLDINGS LIMITED

UPFIELDS HOLDINGS LIMITED (REGISTERED NUMBER: 03709357)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


UPFIELDS HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M T Upfield





REGISTERED OFFICE: 30 - 34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 03709357 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Ltd
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

UPFIELDS HOLDINGS LIMITED (REGISTERED NUMBER: 03709357)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 124,494 128,095
Investments 5 - 100
Investment property 6 2,230,000 2,870,000
2,354,494 2,998,195

CURRENT ASSETS
Debtors 7 229,401 229
Cash at bank 1,349,621 626,806
1,579,022 627,035
CREDITORS
Amounts falling due within one year 8 (274,514 ) (224,996 )
NET CURRENT ASSETS 1,304,508 402,039
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,659,002

3,400,234

PROVISIONS FOR LIABILITIES (117,695 ) (89,885 )
NET ASSETS 3,541,307 3,310,349

CAPITAL AND RESERVES
Called up share capital 9 50 50
Capital redemption reserve (502,450 ) (502,450 )
Fair value reserve 851,054 643,874
Retained earnings 3,192,653 3,168,875
SHAREHOLDERS' FUNDS 3,541,307 3,310,349

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

UPFIELDS HOLDINGS LIMITED (REGISTERED NUMBER: 03709357)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





M T Upfield - Director


UPFIELDS HOLDINGS LIMITED (REGISTERED NUMBER: 03709357)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Upfields Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 15% on reducing balance

Tangible fixed assets include investment properties professionally valued by Chartered Surveyors on an existing use open market value basis. Other tangible fixed assets other than freehold land are stated at cost less depreciation.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from bank and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at the amortised cost using the effective interest method

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is no intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


UPFIELDS HOLDINGS LIMITED (REGISTERED NUMBER: 03709357)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to
property property Totals
£    £    £   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 160,140 36,250 196,390
DEPRECIATION
At 1 April 2023 34,694 33,601 68,295
Charge for year 3,203 398 3,601
At 31 March 2024 37,897 33,999 71,896
NET BOOK VALUE
At 31 March 2024 122,243 2,251 124,494
At 31 March 2023 125,446 2,649 128,095

UPFIELDS HOLDINGS LIMITED (REGISTERED NUMBER: 03709357)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Improvements
Freehold to
property property Totals
£    £    £   
Valuation in 2015 83,157 - 83,157
Cost 76,983 36,250 113,233
160,140 36,250 196,390

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023 100
Disposals (100 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 100

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,870,000
Disposals (640,000 )
At 31 March 2024 2,230,000
NET BOOK VALUE
At 31 March 2024 2,230,000
At 31 March 2023 2,870,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2015 162,023
Valuation in 2016 490,000
Valuation in 2023 47,028
Cost 1,261,251
1,960,302

UPFIELDS HOLDINGS LIMITED (REGISTERED NUMBER: 03709357)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 234 229

Amounts falling due after more than one year:
Other debtors 229,167 -

Aggregate amounts 229,401 229

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,447 2,907
Amounts owed to group undertakings - 189,683
Taxation and social security 9,765 26,603
Other creditors 263,302 5,803
274,514 224,996

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary £1 50 50

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M T Upfield.