REGISTERED NUMBER: 00411085 (England and Wales)

UNIVERSAL PROPERTY INTERESTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

Page

Balance Sheet

1

to

2

Notes to the Financial Statements

3

to

6

FIXED ASSETS

Tangible assets

4

349,000

349,000

CURRENT ASSETS

Debtors

5

867

782

Cash at bank

15,544

15,078

16,411

15,860

CREDITORS

Amounts falling due within one year

6

8,036

7,712

NET CURRENT ASSETS

8,375

8,148

TOTAL ASSETS LESS CURRENT LIABILITIES

357,375

357,148

PROVISIONS FOR LIABILITIES

46,001

46,001

NET ASSETS

311,374

311,147

CAPITAL AND RESERVES

Called up share capital

7

22,691

22,691

Revaluation reserve

8

234,643

234,643

Capital redemption reserve

6,309

6,309

Capital reserve

3,803

3,803

Retained earnings

43,928

43,701

SHAREHOLDERS' FUNDS

311,374

311,147

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th August 2025 and were signed on its behalf by:

A E Keech - Director

A P Dickson - Director

1.	STATUTORY INFORMATION

Universal Property Interests Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00411085

Registered office:

Mill House

Hawksworth Road

Horsforth

Leeds

LS18 4JP

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

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

At the time of signing these accounts, having considered the economic climate, the directors expectations and intentions for the next 12 months, and the availability of working capital, the directors are of the opinion that the company will remain viable for the foreseeable future and accordingly these financial statements have been prepared on the going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Costs include costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant & machinery etc - 20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Investment properties

In accordance with Statement of Standard of Accounting Practice No. 19, the company's properties are included in the Balance Sheet at their open market values. The surpluses or deficits on revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties. Leasehold investment properties are not amortised where the unexpired term is over twenty years. The policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the Financial Statements may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments

The company only enters into transactions in ‘basic’ financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties. These are recognised in the company’s balance sheet when it becomes party to the contractual provisions of the instrument.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classed as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Basic financial liabilities classed as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amount reported 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.

Related parties

Included in Other creditors are amounts owed to directors of £4,538 (2023: £4,538).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST OR VALUATION

At 1st January 2024

and 31st December 2024

349,000

1,124

350,124

DEPRECIATION

At 1st January 2024

and 31st December 2024

-

1,124

1,124

NET BOOK VALUE

At 31st December 2024

349,000

-

349,000

At 31st December 2023

349,000

-

349,000

Cost or valuation at 31st December 2024 is represented by:

Freehold

Plant and

property

machinery

Totals

£

£

£

Valuation in 1994

7,942

-

7,942

Valuation in 1994

9,058

-

9,058

Valuation in 1996

11,500

-

11,500

Valuation in 1998

60,414

-

60,414

Valuation in 2021

190,086

1,124

191,210

Valuation in 2023

70,000

-

70,000

349,000

1,124

350,124

If freehold investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

68,356

68,356

Freehold investment properties were valued on an open market basis on 31st December 2001 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

867

782

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

1,118

1,049

Other creditors

6,918

6,663

8,036

7,712

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

4,000

'A' ordinary shares

£1

4,000

4,000

18,691

'B' ordinary shares

£1

18,691

18,691

22,691

22,691

The 'A' and 'B' shares rank equally for dividends and return of capital in a winding up. The 'A' shares confer on the holders one vote for each share held and the holders of 'B' shares are not entitled to vote at meetings.

8.

RESERVES

Revaluation

reserve

£

At 1st January 2024

and 31st December 2024

234,643