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Registered number: 14600044
Usman Property Investors Ltd
Unaudited Financial Statements
For the Period 18 January 2023 to 31 January 2024
Optimise Accountants Ltd
Office 15 Bramley House 2a
Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14600044
31 January 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 224,316
224,316
CURRENT ASSETS
Cash at bank and in hand 2,915
2,915
Creditors: Amounts Falling Due Within One Year 5 (72,002 )
NET CURRENT ASSETS (LIABILITIES) (69,087 )
TOTAL ASSETS LESS CURRENT LIABILITIES 155,229
Creditors: Amounts Falling Due After More Than One Year 6 (167,007 )
NET LIABILITIES (11,778 )
CAPITAL AND RESERVES
Called up share capital 8 100
Profit and Loss Account (11,878 )
SHAREHOLDERS' FUNDS (11,778)
Page 1
Page 2
For the period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Efaow Abouzakhar
Director
24/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Usman Property Investors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14600044 . The registered office is 14600044 - COMPANIES HOUSE DEFAULT ADDRESS, Cardiff, CF14 8LH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Tangible Assets
Investment Properties
£
Cost
As at 18 January 2023 -
Additions 224,316
As at 31 January 2024 224,316
Net Book Value
As at 31 January 2024 224,316
As at 18 January 2023 -
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Page 4
5. Creditors: Amounts Falling Due Within One Year
31 January 2024
£
Other creditors 2,792
Director's loan account 69,210
72,002
6. Creditors: Amounts Falling Due After More Than One Year
31 January 2024
£
Bank loans 167,007
7. Secured Creditors
Of the creditors the following amounts are secured.
31 January 2024
£
Bank loans and overdrafts 167,007
8. Share Capital
31 January 2024
£
Allotted, Called up and fully paid 100
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