UKFAST PROPERTIES LIMITED

UKFAST PROPERTIES LIMITED

3ARCHWAY LIMITED - Company Information

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UKFAST PROPERTIES LIMITED

Company Registration Number:
09836680 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2018

Period of accounts

Start date: 01 January 2018

End date: 31 December 2018

UKFAST PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2018

Balance sheet
Notes

UKFAST PROPERTIES LIMITED

Balance sheet

As at 31 December 2018


Notes
2018
2017


£
£
Fixed assets
Tangible assets: 2 8,474,352 7,145,802
Total fixed assets: 8,474,352 7,145,802
Current assets
Debtors:   178,149 186,234
Cash at bank and in hand: 92,855 27,705
Total current assets: 271,004 213,939
Creditors: amounts falling due within one year:   (10,453,179) (48,092)
Net current assets (liabilities): (10,182,175) 165,847
Total assets less current liabilities: (1,707,823) 7,311,649
Creditors: amounts falling due after more than one year:     (7,831,825)
Total net assets (liabilities): (1,707,823) (520,176)
Capital and reserves
Called up share capital: 2 2
Profit and loss account: (1,707,825) (520,178)
Shareholders funds: (1,707,823) (520,176)

The notes form part of these financial statements

UKFAST PROPERTIES LIMITED

Balance sheet statements

For the year ending 31 December 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 12 June 2019
and signed on behalf of the board by:

Name: Gail Jones
Status: Director

The notes form part of these financial statements

UKFAST PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

UKFAST PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

2. Tangible Assets

Total
Cost £
At 01 January 2018 7,415,313
Additions 1,838,726
Disposals (65,005)
At 31 December 2018 9,189,034
Depreciation
At 01 January 2018 269,511
Charge for year 445,171
At 31 December 2018 714,682
Net book value
At 31 December 2018 8,474,352
At 31 December 2017 7,145,802

UKFAST PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2018

3. Related party transactions

The company was under the control of L Jones and G Jones throughout the current and previous year. L Jones and G Jones are directors and shareholders of UKFast Properties Limited. Each owns 50% of the share capital. During the year the company entered into transactions, in the ordinary course of business, with other related parties. Included within debtors at 31 December 2018 are as follows: A loan secured by legal mortgage with an interest rate of 5 per cent, was completely repaid in full to a company related by common control on the 20th December 2018. The amount of the liability including interest owed by UKFast Properties Limited at the beginning of the year was £7,831,825 the maximum during the year was £8,530,645 and at the end of the year an amount was owed to UKFast Properties of £52,677. Interest charged during the year amounted to £331,538.Included within creditors at 31 December 2018 are amounts as follows An unsecured 2.5 per cent loan, repayable on demand owed to directors was issued on 20th December 2018. The amount of the liability included interest owed by UKFast Properties Limited at the beginning was £nil, the maximum loan during the year was £8,656,385 and at the end of the year was £8,656,385. Interest charged during the year amounted to £nil. During the year none of the loan was repaid. An unsecured 2.5 per cent loan, repayment on demand owed to a company related by common control, was outstanding during the year. The amount of the liability including interest owed to UKFast Properties Limited at the beginning of the year was £167,847, the maximum loan owed by UKFast Properties during the year was £1,734,658vand at the end of the year was £1,734,658. Interest was charged during the year amounted to £40,171. During the year none of the loan was repaid.