UHD Investments Ltd |
Registered number: |
09077577 |
Balance Sheet |
as at 30 June 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Investments |
3 |
|
|
650,346 |
|
|
650,346 |
|
Current assets |
Cash at bank and in hand |
|
|
17 |
|
|
- |
|
Creditors: amounts falling due within one year |
4 |
|
(131,715) |
|
|
(129,589) |
|
#NAME? |
|
|
|
(131,698) |
|
|
(129,589) |
|
Total assets less current liabilities |
|
|
|
518,648 |
|
|
520,757 |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(439,454) |
|
|
(444,126) |
|
Provisions for liabilities |
|
|
|
(18,500) |
|
|
(18,500) |
|
|
#NAME? |
|
|
|
60,694 |
|
|
58,131 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Revaluation reserve |
7 |
|
|
55,500 |
|
|
55,500 |
Profit and loss account |
|
|
|
5,094 |
|
|
2,531 |
|
Shareholders' funds |
|
|
|
60,694 |
|
|
58,131 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Ramji Kanth |
Director |
Approved by the board on 26 March 2025 |
|
UHD Investments Ltd |
Notes to the Accounts |
for the year ended 30 June 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
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 return on investment. Turnover from the return on investment is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured when the rent becomes due. |
|
|
Investment property |
|
Investment properties are included at fair value. Gains are recognised in the profit and loss account. Deferred tax is provided on these gains at the rate expected to apply when the property is sold. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
3 |
Investments |
|
Other |
investments |
£ |
|
Cost |
|
At 1 July 2023 |
650,346 |
|
|
At 30 June 2024 |
650,346 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 July 2023 |
576,346 |
|
At 30 June 2024 |
576,346 |
|
|
|
|
|
|
|
|
|
|
No depreciation is charged on the investment property. The valuation of investment property was reviewed during the year by the directors based on the market value in the area. The directors believe that the valuation stated at the year end is a fair valuation as at the balance sheet date. |
|
|
4 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans and overdrafts |
4,708 |
|
4,600 |
|
Trade creditors |
1,309 |
|
48 |
|
Amounts owed to related undertakings and undertakings in which the company has a participating interest |
|
33,990 |
|
21,295 |
|
Taxation and social security costs |
889 |
|
594 |
|
Director's current account |
89,631 |
|
101,864 |
|
Other creditors |
1,188 |
|
1,188 |
|
|
|
|
|
|
131,715 |
|
129,589 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
439,454 |
|
444,126 |
|
|
|
|
|
|
|
|
|
|
6 |
Loans |
2024 |
|
2023 |
£ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
414,022 |
|
413,986 |
|
|
|
|
|
|
|
|
|
|
Bank loan is secured on the property of the company. |
|
|
7 |
Non-distributable reserve |
2024 |
|
2023 |
£ |
£ |
|
|
At 1 July 2023 |
55,500 |
|
- |
|
#NAME? |
- |
|
74,000 |
|
Deferred taxation arising on the revaluation of investment property |
- |
|
(18,500) |
|
|
At 30 June 2024 |
55,500 |
|
55,500 |
|
|
|
|
|
|
|
|
|
|
Profit and loss accounts include non-distributable profits arisen as a result of gains on the revaluation of investment property. These profits are not distributable and hence are stated separately in the Statement of Changes in Equity to differenciate from distributable profits. |
|
|
8 |
Related party transactions |
|
|
During the year the company had related party transactions with UC Solutions Ltd, UC Solutions Inc Ltd and Icubes Tech Ltd, all of these companies are controlled by the Kanth family. The company lends and receive interest free money from each other on need basis. As at the balance sheet date the amount payable to these related companies was £33,990 (2023: £21,295). |
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|
9 |
Other information |
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|
UHD Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Unit 1 & 2, Slough Business Centre |
|
Bristol Way |
|
Slough |
|
Berkshire |
|
SL1 3TD |