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REGISTERED NUMBER: 01639133 (England and Wales)










Unaudited Financial Statements

For The Year Ended 30 April 2024

for

Unity Property Limited

Unity Property Limited (Registered number: 01639133)






Contents of the Financial Statements
For The Year Ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Unity Property Limited

Company Information
For The Year Ended 30 April 2024







DIRECTOR: P Buckland



SECRETARY: Mrs. L.F. Buckland



REGISTERED OFFICE: Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN



REGISTERED NUMBER: 01639133 (England and Wales)



ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN



BANKERS: National Westminster Bank Plc
31 Promenade
Cheltenham
Gloucestershire
GL50 1LH

Unity Property Limited (Registered number: 01639133)

Abridged Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 602,146 602,146

CREDITORS
Amounts falling due within one year 118,594 118,594
NET CURRENT LIABILITIES (118,594 ) (118,594 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

483,552

483,552

PROVISIONS FOR LIABILITIES 59,298 59,298
NET ASSETS 424,254 424,254

CAPITAL AND RESERVES
Called up share capital 2 2
Non distributable reserves 5 424,252 424,252
SHAREHOLDERS' FUNDS 424,254 424,254

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 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.

Unity Property Limited (Registered number: 01639133)

Abridged 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 January 2025 and were signed by:





P Buckland - Director


Unity Property Limited (Registered number: 01639133)

Notes to the Financial Statements
For The Year Ended 30 April 2024

1. STATUTORY INFORMATION

Unity 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.

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 properties are properties, either owned or leased by the Company, that are held either to earn rental income or for capital appreciation, or both. Investment properties are measured initially at cost including related transaction costs, and subsequently at fair value. Fair value is based on market value, as determined by a professional independent valuer at each reporting date. The difference between the fair value of an investment property at the reporting date and its carrying amount prior to re-measurement is included in the income statement as a valuation surplus or deficit. Investment properties are presented on the balance sheet within fixed assets.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
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.

Unity Property Limited (Registered number: 01639133)

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

2. ACCOUNTING POLICIES - continued

Basic financial liabilities
Basic financial liabilities, including other creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 602,146
NET BOOK VALUE
At 30 April 2024 602,146
At 30 April 2023 602,146

Unity Property Limited (Registered number: 01639133)

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

4. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2013 398,550
Valuation in 2016 85,000
Cost 118,596
602,146

The investment property was revalued in 2013 and 2016 by the director on an open market basis. If the investment property had not been revalued it would have been included at it's historical cost of £118,596.

5. RESERVES
Non
distributable
reserves
£   
At 1 May 2023
and 30 April 2024 424,252