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REGISTERED NUMBER: 08110841 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

UPL Management (Property) Limited

UPL Management (Property) Limited (Registered number: 08110841)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


UPL Management (Property) Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: A S Uppal





REGISTERED OFFICE: 33 Salmon Street
London
NW9 8PP





REGISTERED NUMBER: 08110841 (England and Wales)





ACCOUNTANTS: R G Associates
12 Rosemary Drive
Ilford
Essex
IG4 5JD

UPL Management (Property) Limited (Registered number: 08110841)

Statement of Financial Position
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,660,493 2,819,116

CURRENT ASSETS
Debtors 5 8,908 5,499
Cash at bank 6 178,153 268,272
187,061 273,771
CREDITORS
Amounts falling due within one year 7 454,383 619,725
NET CURRENT LIABILITIES (267,322 ) (345,954 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,393,171

2,473,162

CREDITORS
Amounts falling due after more than one year 8 (1,007,250 ) (1,007,250 )

PROVISIONS FOR LIABILITIES 9 (160,592 ) (200,092 )
NET ASSETS 1,225,329 1,265,820

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10 1,225,229 1,265,720
SHAREHOLDERS' FUNDS 1,225,329 1,265,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

UPL Management (Property) Limited (Registered number: 08110841)

Statement of Financial Position - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 November 2024 and were signed by:





A S Uppal - Director


UPL Management (Property) Limited (Registered number: 08110841)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

UPL Management (Property) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents rents and management fees receivable during the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 2,816,000 8,596 2,824,596
Revaluations (158,000 ) - (158,000 )
At 30 June 2024 2,658,000 8,596 2,666,596
DEPRECIATION
At 1 July 2023 - 5,480 5,480
Charge for year - 623 623
At 30 June 2024 - 6,103 6,103
NET BOOK VALUE
At 30 June 2024 2,658,000 2,493 2,660,493
At 30 June 2023 2,816,000 3,116 2,819,116

UPL Management (Property) Limited (Registered number: 08110841)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 June 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2017 874,371 - 874,371
Valuation in 2020 (22,000 ) - (22,000 )
Valuation in 2021 (278,000 ) - (278,000 )
Valuation in 2022 185,000 - 185,000
Valuation in 2023 41,000 - 41,000
Valuation in 2024 (158,000 ) - (158,000 )
Cost 2,015,629 8,596 2,024,225
2,658,000 8,596 2,666,596

The properties were valued by the director, Mr A S Uppal who holds no qualifications in the property valuation but has extensive experience and knowledge of properties in the area. No formal valuation was obtained and in the opinion of the director, the market value of the investment properties at the year end will not differ materially from the above valuation.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 8,908 5,499

6. CASH AT BANK

Cash at bank include client account balances of £175,302.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Taxation and social security 23,248 22,960
Other creditors 431,135 596,765
454,383 619,725

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Other creditors 1,007,250 1,007,250

UPL Management (Property) Limited (Registered number: 08110841)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 160,592 200,092

Deferred
tax
£   
Balance at 1 July 2023 200,092
Revaluation (39,500 )
Balance at 30 June 2024 160,592

10. RESERVES
Retained
earnings
£   

At 1 July 2023 1,265,720
Profit for the year 78,009
Surplus on property valuation (118,500 )
At 30 June 2024 1,225,229

Reserves include £481,778 in respect of unrealised profits which will not be available for distribution until realised.

11. ULTIMATE CONTROLLING PARTY

The controlling party is A S Uppal.