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Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Upright Property Holdings Ltd

Upright Property Holdings Ltd (Registered number: 11917650)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Upright Property Holdings Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: M J Charlton
B J Wilson





REGISTERED OFFICE: 14 West Street
Reigate
Surrey
RH2 9BS





REGISTERED NUMBER: 11917650 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Upright Property Holdings Ltd (Registered number: 11917650)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 720,000 720,000

CURRENT ASSETS
Debtors 5 3,620 -
Cash at bank and in hand 1,668 1,347
5,288 1,347
CREDITORS
Amounts falling due within one year 6 216,343 194,578
NET CURRENT LIABILITIES (211,055 ) (193,231 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

508,945

526,769

CREDITORS
Amounts falling due after more than one
year

7

(326,534

)

(350,058

)

PROVISIONS FOR LIABILITIES 10 (30,216 ) (22,964 )
NET ASSETS 152,195 153,747

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 113,611 120,863
Retained earnings 38,484 32,784
SHAREHOLDERS' FUNDS 152,195 153,747

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Upright Property Holdings Ltd (Registered number: 11917650)

Balance Sheet - continued
30 April 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 Board of Directors and authorised for issue on 20 January 2025 and were signed on its behalf by:




B J Wilson - Director



M J Charlton - Director


Upright Property Holdings Ltd (Registered number: 11917650)

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


1. STATUTORY INFORMATION

Upright Property Holdings Ltd 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 720,000
NET BOOK VALUE
At 30 April 2024 720,000
At 30 April 2023 720,000

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2020 720,000

No depreciation is provided in respect of the company's investment property. The valuation of the investment property was carried out in December 2020 by Crow Watkin RICS.

Upright Property Holdings Ltd (Registered number: 11917650)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,620 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 43,953 31,495
Trade creditors 5,361 901
Tax 2,363 3,222
Other creditors 161,965 158,060
Accrued expenses 2,701 900
216,343 194,578

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 8) 326,534 350,058

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 150,721 224,077

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 43,953 31,495

Amounts falling due between one and two years:
Bank loans - 1-2 years 43,953 31,495

Amounts falling due between two and five years:
Bank loans - 2-5 years 131,860 94,486

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 150,721 224,077

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 370,487 381,553

Upright Property Holdings Ltd (Registered number: 11917650)

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


10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 30,216 22,964

Deferred
tax
£   
Balance at 1 May 2023 22,964
Provided during year 7,252
Balance at 30 April 2024 30,216

11. RESERVES

The Company's other reserves are as follows:

The retained earnings reserve represents cumulative profits or losses, net of dividends paid and other
adjustments.

The fair value reserve represents the cumulative effect of revaluations of freehold land and buildings
which are revalued to fair value at each reporting date.

12. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors of the company.