Registered number
05306979
UBF PROPERTIES LIMITED
Filleted Accounts
29 February 2024
UBF PROPERTIES LIMITED
Registered number: 05306979
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 300,000 551,958
Current assets
Debtors 4 185,393 -
Cash at bank and in hand 19,971 6,022
205,364 6,022
Creditors: amounts falling due within one year 5 (2,100) (84,808)
Net current assets/(liabilities) 203,264 (78,786)
Total assets less current liabilities 503,264 473,172
Creditors: amounts falling due after more than one year 6 (5,127) (194,589)
Net assets 498,137 278,583
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 (86,739) (557,521)
Profit and loss account 584,776 836,004
Shareholders' funds 498,137 278,583
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr Bilaal Adam
Director
Approved by the board on 25 October 2024
UBF PROPERTIES LIMITED
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Zero
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2023 551,958
Surplus on revaluation 470,782
Disposals (722,740)
At 29 February 2024 300,000
Depreciation
At 29 February 2024 -
Net book value
At 29 February 2024 300,000
At 28 February 2023 551,958
4 Debtors 2024 2023
£ £
Other debtors 185,393 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 2,278
Rent received in advance 750 750
Accruals 1,350 3,395
Other creditors - 78,385
2,100 84,808
6 Creditors: amounts falling due after one year 2024 2023
£ £
Dr B Adam 2,127 63,697
Dr U Adam 1,000 52,198
Dr F Adam 1,000 49,063
Mrs S Adam 1,000 29,631
5,127 194,589
7 Revaluation reserve 2024 2023
£ £
At 1 March 2023 (557,521) (557,521)
Gain on revaluation of land and buildings 470,782 -
At 29 February 2024 (86,739) (557,521)
8 Other information
UBF PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
86 Wimberley Street
Blackburn
Lancashire
BB1 8HX
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