Company registration number 08918439 (England and Wales)
UNION PROPERTY SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
UNION PROPERTY SERVICES LIMITED
COMPANY INFORMATION
Directors
Mrs P Sehgal
Mr R K Sehgal
Mrs V Sehgal
Mr N Abrol
Company number
08918439
Registered office
First Floor Cobalt 3.2
Silver Fox Way
Cobalt Business Park
Newcastle upon Tyne
NE27 0QJ
Accountants
Robson Laidler Accountants Limited
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
Tyne and Wear
England
NE2 1TJ
UNION PROPERTY SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
UNION PROPERTY SERVICES LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
143,208
202,008
Current assets
Debtors
5
18,106,601
17,304,858
Cash at bank and in hand
60,913
34,573
18,167,514
17,339,431
Creditors: amounts falling due within one year
6
(16,706,616)
(15,731,488)
Net current assets
1,460,898
1,607,943
Total assets less current liabilities
1,604,106
1,809,951
Provisions for liabilities
7
(452)
(409)
Net assets
1,603,654
1,809,542
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,603,554
1,809,442
Total equity
1,603,654
1,809,542

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The directors acknowledge their 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 February 2026 and are signed on its behalf by:
Mr R K Sehgal
Director
Company registration number 08918439 (England and Wales)
UNION PROPERTY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Union Property Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor Cobalt 3.2, Silver Fox Way, Cobalt Business Park, Newcastle upon Tyne, NE27 0QJ.

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 UK sterling which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoices sales of services, excluding value added tax,

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:

Short leasehold
Over the term of the lease
Computer equipment
33.33% on cost

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
Cash and cash equivalents

Cash and cash equivalents 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. Bank overdrafts are shown within borrowings in current liabilities.

UNION PROPERTY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the p rofit and l oss a ccount, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current and deferred taxation assets and liabilities are not discounted.

Current tax

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 form the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the 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.

1.6
Provisions

Provisions are recognised when the company has an obligation at the balance sheet as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

1.7
Employee benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

1.8
Leases

Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

1.9

Impairment of assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds the recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

2
Employees

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

2025
2024
Number
Number
Total
17
15
UNION PROPERTY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
3
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
-
0
32,088
Adjustments in respect of prior periods
(32,088)
45,772
Total current tax
(32,088)
77,860
Deferred tax
Origination and reversal of timing differences
43
82
Total tax (credit)/charge
(32,045)
77,942
4
Tangible fixed assets
Short leasehold
Computer equipment
Total
£
£
£
Cost
At 1 March 2024
1,332,171
31,564
1,363,735
Additions
-
0
1,034
1,034
At 28 February 2025
1,332,171
32,598
1,364,769
Depreciation and impairment
At 1 March 2024
1,131,800
29,927
1,161,727
Depreciation charged in the year
58,972
862
59,834
At 28 February 2025
1,190,772
30,789
1,221,561
Carrying amount
At 28 February 2025
141,399
1,809
143,208
At 29 February 2024
200,371
1,637
202,008
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
4,603
44,884
Unpaid share capital
100
100
Other debtors
16,684,065
15,095,435
Prepayments and accrued income
1,417,833
2,164,439
18,106,601
17,304,858
UNION PROPERTY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Other borrowings
500,000
-
0
Trade creditors
126,652
80,755
Corporation tax
-
0
32,088
Other taxation and social security
817,778
554,614
Other creditors
14,696,078
14,502,901
Accruals and deferred income
566,108
561,130
16,706,616
15,731,488
7
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
8
452
409
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
452
409
2025
Movements in the year:
£
Liability at 1 March 2024
409
Charge to profit or loss
43
Liability at 28 February 2025
452
9
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

UNION PROPERTY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
9
Related party transactions
(Continued)
- 6 -
Rent payable
Management charges receivable
2025
2024
2025
2024
£
£
£
£
Key management personnel
50,000
50,000
-
-
Other related parties
-
-
841,200
1,489,600

During the year £Nil (202 4 £42,151) loan interest was payable to M K and P Sehgal jointly.

During the year £17,127 (2024 £Nil) loan interest was payable to The Sehgal Pension Scheme.

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Key management personnel
760,205
857,059
Other related parties
14,310,794
13,630,794
2025
2024
Amounts due from related parties
£
£
Other related parties
16,659,671
15,070,878
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