Company registration number 12480303 (England and Wales)
UPTON PARK ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
UPTON PARK ESTATES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
UPTON PARK ESTATES LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 1 -
28 February 2025
26 February 2024
Notes
£
£
£
£
Fixed assets
Investment property
4
18,895,430
18,211,500
Current assets
Debtors
5
121,239
16,561
Cash at bank and in hand
1,064,006
512
1,185,245
17,073
Creditors: amounts falling due within one year
6
(7,000,044)
(7,709,710)
Net current liabilities
(5,814,799)
(7,692,637)
Total assets less current liabilities
13,080,631
10,518,863
Creditors: amounts falling due after more than one year
7
(7,085,431)
(4,818,030)
Provisions for liabilities
(1,227,412)
(1,227,412)
Net assets
4,767,788
4,473,421
Capital and reserves
Called up share capital
9
3
3
Non-distributable profits reserve
10
3,822,723
3,822,723
Distributable profit and loss reserves
11
945,062
650,695
Total equity
4,767,788
4,473,421
UPTON PARK ESTATES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025
28 February 2025
- 2 -

For the financial period 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 period 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 20 May 2026 and are signed on its behalf by:
Mr J S Rai
Director
Company registration number 12480303 (England and Wales)
UPTON PARK ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 3 -
1
Accounting policies
Company information

Upton Park Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is Nunn Hayward LLP, 2-4 Packhorse Road, Gerrards Cross, Buckinghamshire, SL9 7QE.

1.1
Reporting period

The financial statements have been prepared for the period from 27 February 2024 to 28 February 2025.

The company's normal accounting reference date is 25 February (shortened from 26 February). However these financial statements have been prepared to 28 February 2025 resulting in a reporting period that is 2 days longer than one year.

This presentation has been adopted in order to include a significant property acquisition that was completed on 28 February 2025 and to provide more meaningful financial information to users of the financial statements.

Comparative amounts are for the period ended 26 February 2024 and are therefore not entirely comparable.

1.2
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. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, (modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value). The principal accounting policies adopted are set out below.

1.3
Going concern

The accounts have been prepared on a going concern basis as it has been agreed that the amounts due to group undertakings, although repayable on demand, will be deferred until the company has sufficient reserves available.

1.4
Turnover

Turnover is recognised at the fair value of the rentals received or receivable in accordance with the rent agreements.

1.5
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.

Freehold land and assets in the course of construction are not depreciated.

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.

UPTON PARK ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.6
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.

Property rented to a group entity is accounted for at fair value with changes in fair value recognised in profit or loss account.

1.7
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.

1.8
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

UPTON PARK ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 and subsequently measured at amortised cost using the effective interest method.

1.9
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.

1.10
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 profit and loss account 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.

2
Judgements and key sources of estimation uncertainty

In preparing the financial statements, the directors have made significant judgements and estimates in determining the fair value of the investment properties. The valuations involve inherent uncertainty, and changes in market conditions could result in material differences to the amounts recognised in the financial statements.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

UPTON PARK ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 6 -
3
Employees

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

2025
2024
Number
Number
Total
3
3
4
Investment property
2025
£
Fair value
At 27 February 2024
18,211,500
Additions
683,930
At 28 February 2025
18,895,430

The directors have valued the properties at the period end by considering market evidence of transactions for comparable properties, having regard to the condition and location of the properties. The resulting valuations represent the directors' best estimates of fair value at 28 February 2025.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
239
3
Other debtors
121,000
16,558
121,239
16,561
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
-
0
210,750
Trade creditors
56,408
916
Amounts owed to group undertakings
6,665,941
7,329,586
Corporation tax
269,295
160,432
Other creditors
8,400
8,026
7,000,044
7,709,710
UPTON PARK ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 7 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
3,626,757
2,383,130
Other creditors
3,458,674
2,434,900
7,085,431
4,818,030
Creditors which fall due after five years are payable as follows:
Payable other than by instalments
6,943,695
4,676,264
8
Secured debts

Loans of £7,085,431 (202 4 : £5,028,780) are secured on the investment properties owned by the company.

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
3
3
3
3
10
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the period
3,822,723
1,834,405
Non distributable profits in the period
-
1,988,318
At the end of the period
3,822,723
3,822,723
11
Profit and loss reserves
2025
2024
£
£
At the beginning of the period
650,695
336,762
Adjusted balance
650,695
336,762
Profit for the period
294,367
2,302,251
Current period profits transferred to non-distributable reserve
-
(1,988,318)
At the end of the period
945,062
650,695
UPTON PARK ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 8 -
12
Related party transactions
Transactions with related parties

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

Rental income
2025
2024
£
£
Group undertaking
941,500
810,400
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