Company registration number 08400501 (England and Wales)
PROPERTY UPGRADES (YORKSHIRE) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
PROPERTY UPGRADES (YORKSHIRE) LTD
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
PROPERTY UPGRADES (YORKSHIRE) LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,078
5,438
Investment property
3
250,000
-
0
254,078
5,438
Current assets
Stocks
-
219,933
Debtors
5
3,612
3,605
Cash at bank and in hand
2,081
2,457
5,693
225,995
Creditors: amounts falling due within one year
6
(59,541)
(60,170)
Net current (liabilities)/assets
(53,848)
165,825
Total assets less current liabilities
200,230
171,263
Provisions for liabilities
(775)
(1,033)
Net assets
199,455
170,230
Capital and reserves
Called up share capital
7
100
100
Revaluation reserve
30,067
-
0
Profit and loss reserves
169,288
170,130
Total equity
199,455
170,230

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 4 September 2025
Mr M A Hey
Director
Company registration number 08400501 (England and Wales)
PROPERTY UPGRADES (YORKSHIRE) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 April 2023
100
-
0
158,967
159,067
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
11,163
11,163
Balance at 31 March 2024
100
-
0
170,130
170,230
Year ended 31 March 2025:
Loss
-
-
(842)
(842)
Other comprehensive income:
Gains reclassified to profit or loss
-
30,067
-
30,067
Total comprehensive income
-
30,067
(842)
29,225
Balance at 31 March 2025
100
30,067
169,288
199,455
PROPERTY UPGRADES (YORKSHIRE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Property Upgrades (Yorkshire) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Orchard House, Manor Farm, Chapel Street, Hambleton, YO8 9JG. The company registration number is 08400501.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. Turnover is recognised at legal completion in respect of building and development.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% straight line
Equipment
25% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Stocks

Stocks, properties held for sale, and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.7
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 statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

PROPERTY UPGRADES (YORKSHIRE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are recognised at transaction price unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
PROPERTY UPGRADES (YORKSHIRE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
3
Investment property
2025
£
Fair value
At 1 April 2024
-
0
Transfers
250,000
At 31 March 2025
250,000

The fair value of the investment property has been determined by the director based on comparable local market transactions. No external professional valuation was obtained.

4
Tangible fixed assets
Plant and machinery
Equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2024 and 31 March 2025
1,637
1,716
19,305
22,658
Depreciation
At 1 April 2024
1,251
1,372
14,597
17,220
Depreciation charged in the year
97
86
1,177
1,360
At 31 March 2025
1,348
1,458
15,774
18,580
Carrying amount
At 31 March 2025
289
258
3,531
4,078
At 31 March 2024
386
344
4,708
5,438
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
3,612
3,605
6
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
7,114
2,963
Other creditors
52,427
57,207
59,541
60,170
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
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