Univale Properties Limited Filleted accounts for Companies House (small and micro)

UNIVALE PROPERTIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08086672

Univale Properties Limited

Filleted Unaudited Financial Statements

31 May 2023

Univale Properties Limited

Statement of Financial Position

31 May 2023

	2023		2022
Note	£	£	£

Fixed assets

Investments	4		43,519	43,519

Current assets

Debtors	5	1	1
Cash at bank and in hand		1,563	1,563
		-------	-------
		1,564	1,564

Creditors: amounts falling due within one year	6	48,903		47,943
		--------		--------
Net current liabilities			47,339	46,379
			--------	--------
Total assets less current liabilities			( 3,820)	( 2,860)
			-------	-------
Net liabilities			( 3,820)	( 2,860)
			-------	-------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 3,821)	( 2,861)
	-------	-------
Shareholders deficit	( 3,820)	( 2,860)
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Univale Properties Limited

Statement of Financial Position (continued)

31 May 2023

These financial statements were approved by the board of directors and authorised for issue on 14 November 2023 , and are signed on behalf of the board by:

Mr S Puri
Director

Company registration number: 08086672

Univale Properties Limited

Notes to the Financial Statements

Year ended 31 May 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First Floor, 1 Duchess Street, London, W1W 6AN, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The director has confirmed his intention to continue to provide financial support as required by the company from at least twelve months from the date of signing the accounts. As a result, the going concern basis of accounting has been adopted.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Investments

	Other investments other than loans
	£
Cost
At 1 June 2022 and 31 May 2023	43,519
	--------
Impairment
At 1 June 2022 and 31 May 2023	–
	--------

Carrying amount
At 31 May 2023	43,519
	--------
At 31 May 2022	43,519
	--------

5. Debtors

	2023	2022
	£	£
Other debtors	1	1
	----	----

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Other creditors	48,903	47,943
	--------	--------

7. Director's advances, credits and guarantees

Mr S Puri , the director, had provided a loan to the company in the prior year on interest free and unsecured terms. The amount due to Mr S Puri at the balance sheet date was £1,069 (2022 £109).

8. Controlling party

The company was under the control of Mr S Puri throughout the current and previous year.