Upton Estates Limited 12835730 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is property acquisition and letting Digita Accounts Production Advanced 6.30.9574.0 Software true true 12835730 2023-09-01 2024-08-31 12835730 2024-08-31 12835730 bus:Director1 1 2024-08-31 12835730 bus:OrdinaryShareClass1 2024-08-31 12835730 core:OtherReservesSubtotal 2024-08-31 12835730 core:RetainedEarningsAccumulatedLosses 2024-08-31 12835730 core:ShareCapital 2024-08-31 12835730 core:CurrentFinancialInstruments 2024-08-31 12835730 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 12835730 core:Non-currentFinancialInstruments 2024-08-31 12835730 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 12835730 bus:SmallEntities 2023-09-01 2024-08-31 12835730 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12835730 bus:FullAccounts 2023-09-01 2024-08-31 12835730 bus:RegisteredOffice 2023-09-01 2024-08-31 12835730 bus:Director1 2023-09-01 2024-08-31 12835730 bus:Director1 1 2023-09-01 2024-08-31 12835730 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 12835730 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12835730 core:OtherRelatedParties 2023-09-01 2024-08-31 12835730 countries:AllCountries 2023-09-01 2024-08-31 12835730 2023-08-31 12835730 bus:Director1 1 2023-08-31 12835730 2022-09-01 2023-08-31 12835730 2023-08-31 12835730 bus:Director1 1 2023-08-31 12835730 bus:OrdinaryShareClass1 2023-08-31 12835730 core:OtherReservesSubtotal 2023-08-31 12835730 core:RetainedEarningsAccumulatedLosses 2023-08-31 12835730 core:ShareCapital 2023-08-31 12835730 core:CurrentFinancialInstruments 2023-08-31 12835730 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 12835730 core:Non-currentFinancialInstruments 2023-08-31 12835730 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 12835730 bus:Director1 1 2022-09-01 2023-08-31 12835730 bus:Director1 1 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 12835730

Upton Estates Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Upton Estates Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Upton Estates Limited

Company Information

Director

Mr I Howell

Registered office

Upton Hall
Nantgaredig
Carmarthen
SA32 7PJ

 

Upton Estates Limited

(Registration number: 12835730)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,700,000

1,700,000

Current assets

 

Debtors

5

25,377

11,800

Cash at bank and in hand

 

7,141

8,901

 

32,518

20,701

Creditors: Amounts falling due within one year

6

(101,786)

(91,651)

Net current liabilities

 

(69,268)

(70,950)

Total assets less current liabilities

 

1,630,732

1,629,050

Creditors: Amounts falling due after more than one year

6

(898,730)

(898,730)

Provisions for liabilities

(138,714)

(138,714)

Net assets

 

593,288

591,606

Capital and reserves

 

Called up share capital

10

10

Other reserves

730,075

730,075

Profit and loss account

(136,797)

(138,479)

Total equity

 

593,288

591,606

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Upton Estates Limited

(Registration number: 12835730)
Balance Sheet as at 31 August 2024

Approved and authorised by the director on 18 March 2025
 

.........................................
Mr I Howell
Director

   
     
 

Upton Estates Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Upton Hall
Nantgaredig
Carmarthen
SA32 7PJ

These financial statements were authorised for issue by the director on 18 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Upton Estates Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. Ian Howell, the director is a Chartered Surveyor. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Upton Estates Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 September

1,700,000

There has been no valuation of investment property by an independent valuer.

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

1,277

600

Amounts owed by related parties

9

24,100

11,200

 

25,377

11,800

 

Upton Estates Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

732

-

Other related parties

 

100,343

91,113

Corporation tax liability

 

395

55

Other creditors

 

316

483

 

101,786

91,651

Due after one year

 

Loans and borrowings

8

898,730

898,730

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

898,730

898,730

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £0.01 each

1,000

10.00

1,000

10.00

         

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

898,730

898,730

 

Upton Estates Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

9

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Other payments made to company by director
£

At 31 August 2024
£

Mr I Howell

Interest free loan repayable on demand

(91,113)

(9,230)

(100,343)

       
     

 

2023

At 1 September 2022
£

Other payments made to company by director
£

At 31 August 2023
£

Mr I Howell

Interest free loan repayable on demand

(25,113)

(66,000)

(91,113)

       
     

 

Summary of transactions with other related parties

Brechfau Holdings Limited
 Upton Estates Limited and Brechfau Holdings Limited have a director in common.

During the year, rental of property amounting to £42,600 was charged to Brechfau Holdings Limited from Upton Estates Limited.

At the balance sheet date, £24,100 was owed by Brechfau Holdings Limited.