Company registration number 00544770 (England and Wales)
UNION PROPERTY DEVELOPMENT (HEXHAM) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
UNION PROPERTY DEVELOPMENT (HEXHAM) LIMITED
COMPANY INFORMATION
Directors
Mrs P Sehgal
R K Sehgal
N Abrol
Company number
00544770
Registered office
c/o Union Property Services Limited
Cobalt 3.2, Silver Fox Way
Cobalt Business Park
Newcastle upon Tyne
Tyne and Wear
NE27 0QJ
Accountants
Robson Laidler Accountants Limited
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
Tyne and Wear
England
NE2 1TJ
UNION PROPERTY DEVELOPMENT (HEXHAM) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
UNION PROPERTY DEVELOPMENT (HEXHAM) LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
12,655,000
12,655,000
Current assets
Debtors
4
255,678
649,262
Cash at bank and in hand
815,193
590,082
1,070,871
1,239,344
Creditors: amounts falling due within one year
5
(2,255,538)
(2,435,234)
Net current liabilities
(1,184,667)
(1,195,890)
Total assets less current liabilities
11,470,333
11,459,110
Creditors: amounts falling due after more than one year
6
(10,721,710)
(10,721,710)
Net assets
748,623
737,400
Capital and reserves
Called up share capital
7
4,100
4,100
Profit and loss reserves
744,523
733,300
Total equity
748,623
737,400

For the financial year ended 31 May 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 17 April 2026 and are signed on its behalf by:
R K Sehgal
Director
Company registration number 00544770 (England and Wales)
UNION PROPERTY DEVELOPMENT (HEXHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 2 -
1
Accounting policies
Company information

Union Property Development (Hexham) Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Union Property Services Limited, Cobalt 3.2, Silver Fox Way, Cobalt Business Park, Newcastle upon Tyne, Tyne and Wear, 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, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis which, in the opinion of the directors, is the appropriate basis. The company's ability to continue trading is dependent upon the ongoing support of its fellow true group companies. In the event that the company is unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amount.

1.3
Turnover

Rents receivable are recognised in accordance with the underlying property leases and exclusive of Value Added Tax where there are options to tax on properties. Lease incentives (such as rent free periods) are spread over the entire period of the lease.

1.4
Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The methods and significant assumptions used to ascertain the fair value £12,655,000 and fair value movement of £Nil included in the profit/loss for the period as follows:-

The i nvestment property was valued at fair value based on a valuation carried out in September 2024 by Lambert Smith Hampton, a RICS registered valuer.

1.5
Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
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 DEVELOPMENT (HEXHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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

The tax currently payable is based on taxable profit for the year. 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 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.

1.8
Provisions

Provisions are recognised when the company has an obligation at the balance sheet date 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.

1.9
Leases

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

1.10

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.11

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

2
Employees

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

2025
2024
Number
Number
Total
0
0
UNION PROPERTY DEVELOPMENT (HEXHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 4 -
3
Investment property
2025
£
Fair value
At 1 June 2024 and 31 May 2025
12,655,000

O n 2 4 September 2024 the property was valued at £12,655,000 by Lambert Smith Hampton, a RICS registered valuer.

The historic cost of the investment property is £11,402,807 (2024 £11,402,807).

4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,471
3,981
Amounts owed by group undertakings
-
0
381,245
Prepayments and accrued income
253,207
264,036
255,678
649,262
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
117,029
118,219
Amounts owed to group undertakings
1,958,861
2,013,409
Taxation and social security
34,518
34,285
Other creditors
46,802
166,180
Accruals and deferred income
98,328
103,141
2,255,538
2,435,234
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
10,721,710
10,721,710
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4,100
4,100
4,100
4,100
UNION PROPERTY DEVELOPMENT (HEXHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 5 -
8
Financial commitments, guarantees and contingent liabilities

The company has entered an omnibus and set off agreement with Union Property Development Limited and Union Property Development (Cobalt) Limited whereby each of the companies guarantees all of the monies and liabilities of each company within the agreement.

The company's investment property ha s been provided as security.

9
Related party transactions
Transactions with related parties

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

Property management fees
2025
2024
£
£
Other related parties
35,003
35,003
Other information

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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