Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr R O'Connell 22/06/2016 Miss S O'Connell 22/06/2016 07 November 2024 The principal activity of the Company during the financial year was rental of owned commercial real estate. 10246574 2024-03-31 10246574 bus:Director1 2024-03-31 10246574 bus:Director2 2024-03-31 10246574 2023-03-31 10246574 core:CurrentFinancialInstruments 2024-03-31 10246574 core:CurrentFinancialInstruments 2023-03-31 10246574 core:Non-currentFinancialInstruments 2024-03-31 10246574 core:Non-currentFinancialInstruments 2023-03-31 10246574 core:ShareCapital 2024-03-31 10246574 core:ShareCapital 2023-03-31 10246574 core:RevaluationReserve 2024-03-31 10246574 core:RevaluationReserve 2023-03-31 10246574 core:RetainedEarningsAccumulatedLosses 2024-03-31 10246574 core:RetainedEarningsAccumulatedLosses 2023-03-31 10246574 core:Vehicles 2023-03-31 10246574 core:FurnitureFittings 2023-03-31 10246574 core:OfficeEquipment 2023-03-31 10246574 core:Vehicles 2024-03-31 10246574 core:FurnitureFittings 2024-03-31 10246574 core:OfficeEquipment 2024-03-31 10246574 bus:OrdinaryShareClass1 2024-03-31 10246574 bus:OrdinaryShareClass2 2024-03-31 10246574 2023-04-01 2024-03-31 10246574 bus:FilletedAccounts 2023-04-01 2024-03-31 10246574 bus:SmallEntities 2023-04-01 2024-03-31 10246574 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10246574 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10246574 bus:Director1 2023-04-01 2024-03-31 10246574 bus:Director2 2023-04-01 2024-03-31 10246574 core:Vehicles 2023-04-01 2024-03-31 10246574 core:FurnitureFittings 2023-04-01 2024-03-31 10246574 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 10246574 2022-04-01 2023-03-31 10246574 core:OfficeEquipment 2023-04-01 2024-03-31 10246574 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 10246574 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10246574 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 10246574 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 10246574 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10246574 (England and Wales)

UP COUNTRY PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

UP COUNTRY PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

UP COUNTRY PROPERTIES LIMITED

BALANCE SHEET

As at 31 March 2024
UP COUNTRY PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 105,304 5,356
Investment property 4 2,056,454 2,056,454
2,161,758 2,061,810
Current assets
Debtors 5 3,652 53,502
Cash at bank and in hand 220,641 210,327
224,293 263,829
Creditors: amounts falling due within one year 6 ( 112,407) ( 180,745)
Net current assets 111,886 83,084
Total assets less current liabilities 2,273,644 2,144,894
Creditors: amounts falling due after more than one year 7 ( 1,300,940) ( 1,300,628)
Provision for liabilities ( 38,840) ( 13,853)
Net assets 933,864 830,413
Capital and reserves
Called-up share capital 8 1,000 1,000
Revaluation reserve 143,941 143,941
Profit and loss account 788,923 685,472
Total shareholders' funds 933,864 830,413

For the financial 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 financial statements of Up Country Properties Limited (registered number: 10246574) were approved and authorised for issue by the Board of Directors on 07 November 2024. They were signed on its behalf by:

Mr R O'Connell
Director
UP COUNTRY PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
UP COUNTRY PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Up Country Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Unit 1 Bilton Way, Lutterworth, LE17 4JA.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover comprises the fair value of the consideration received or receivable for the rents and provision of services in the ordinary course of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life.

Vehicles 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 1

3. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 April 2023 0 7,545 8,221 15,766
Additions 114,313 0 996 115,309
At 31 March 2024 114,313 7,545 9,217 131,075
Accumulated depreciation
At 01 April 2023 0 5,633 4,777 10,410
Charge for the financial year 13,337 383 1,641 15,361
At 31 March 2024 13,337 6,016 6,418 25,771
Net book value
At 31 March 2024 100,976 1,529 2,799 105,304
At 31 March 2023 0 1,912 3,444 5,356

4. Investment property

Investment property
£
Valuation
As at 01 April 2023 2,056,454
As at 31 March 2024 2,056,454

Valuation

The investment properties were valued by the directors at 31 March 2024 to show the fair value.

5. Debtors

2024 2023
£ £
Trade debtors 0 51,600
Other debtors 3,652 1,902
3,652 53,502

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 4,266 1,657
Taxation and social security 16,275 36,649
Other creditors 91,866 142,439
112,407 180,745

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 1,300,940 1,300,628

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
750 Ordinary A shares of £ 1.00 each 750 750
250 Ordinary B shares of £ 1.00 each 250 250
1,000 1,000