Company No:
Contents
DIRECTORS | C M Askew |
J T Jackson | |
J S Redshaw | |
J S Waldron | |
REGISTERED OFFICE | 14 Backfields Lane |
Bristol | |
BS2 8QW | |
United Kingdom | |
COMPANY NUMBER | 08228631(England and Wales) |
CHARTERED ACCOUNTANTS | Bishop Fleming LLP |
10 Temple Back | |
Bristol | |
BS1 6FL |
2020 | 2019 | |||
Note | £ | £ | ||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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343,855 | 330,875 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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2,713 | 828 | |||
Creditors | ||||
Amounts falling due within one year | 6 | (
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Net current liabilities | (14,621) | (18,393) | ||
Total assets less current liabilities | 329,234 | 312,482 | ||
Creditors | ||||
Amounts falling due after more than one year | 7 | (
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Provisions for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Profit and loss account |
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Total shareholders' funds |
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Directors’ responsibilities:
The financial statements of UDS Properties Three Limited (registered number:
J T Jackson
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year.
UDS Properties Three Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 14 Backfields Lane, Bristol, BS2 8QW, United Kingdom. Its registered number is 08228631.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.
The functional currency of UDS Properties Three Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Director’ Report.
The Company's forecasts and projections, taking account of the continued possible impact of COVID-19 in trading performance, show that the company should be able to operate within the level of its current facilities.
Therefore, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fixtures and fittings - 15% straight line
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The fair value is determined annually by the directors, on an open market value for existing use basis.
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.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
2020 | 2019 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Fixtures and fittings | Total | ||
£ | £ | ||
Cost/Valuation | |||
At 01 October 2019 |
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Additions |
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At 30 September 2020 |
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Accumulated depreciation | |||
At 01 October 2019 |
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Charge for the financial year |
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At 30 September 2020 |
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Net book value | |||
At 30 September 2020 |
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At 30 September 2019 |
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Investment property | |
£ | |
Valuation | |
As at 01 October 2019 |
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Fair value movement | 13,200 |
As at 30 September 2020 |
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Valuation
The 2020 valuations were made by the directors, on an open market value for existing use basis.
Historic cost
If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:
2020 | 2019 | ||
£ | £ | ||
Historic cost | 270,854 | 270,854 |
2020 | 2019 | ||
£ | £ | ||
Prepayments |
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2020 | 2019 | ||
£ | £ | ||
Bank loans and overdrafts (secured £
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Trade creditors |
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Amounts owed to directors |
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Other creditors |
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Accruals |
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Corporation tax |
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2020 | 2019 | ||
£ | £ | ||
Bank loans (secured £
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Amounts owed to directors |
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228,001 | 228,309 |
2020 | 2019 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
2020 | 2019 | ||
£ | £ | ||
Amounts owed to the director due within one year | 4,000 | 4,000 | |
Amounts owed to the director due after one year | 101,844 | 102,823 |