Universal Development Hampshire Ltd 09694914 false 2021-08-01 2022-07-31 2022-07-31 The principal activity of the company is refurbishment to property. Digita Accounts Production Advanced 6.30.9574.0 true 09694914 2021-08-01 2022-07-31 09694914 2022-07-31 09694914 bus:OrdinaryShareClass1 2022-07-31 09694914 core:RetainedEarningsAccumulatedLosses 2022-07-31 09694914 core:ShareCapital 2022-07-31 09694914 core:CurrentFinancialInstruments 2022-07-31 09694914 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 09694914 core:OfficeEquipment 2022-07-31 09694914 core:PlantMachinery 2022-07-31 09694914 bus:SmallEntities 2021-08-01 2022-07-31 09694914 bus:AuditExemptWithAccountantsReport 2021-08-01 2022-07-31 09694914 bus:FullAccounts 2021-08-01 2022-07-31 09694914 bus:SmallCompaniesRegimeForAccounts 2021-08-01 2022-07-31 09694914 bus:RegisteredOffice 2021-08-01 2022-07-31 09694914 bus:Director1 2021-08-01 2022-07-31 09694914 bus:Director2 2021-08-01 2022-07-31 09694914 bus:OrdinaryShareClass1 2021-08-01 2022-07-31 09694914 bus:PrivateLimitedCompanyLtd 2021-08-01 2022-07-31 09694914 core:OfficeEquipment 2021-08-01 2022-07-31 09694914 core:OtherPropertyPlantEquipment 2021-08-01 2022-07-31 09694914 core:PlantMachinery 2021-08-01 2022-07-31 09694914 countries:England 2021-08-01 2022-07-31 09694914 2021-07-31 09694914 core:OfficeEquipment 2021-07-31 09694914 core:PlantMachinery 2021-07-31 09694914 2020-08-01 2021-07-31 09694914 2021-07-31 09694914 bus:OrdinaryShareClass1 2021-07-31 09694914 core:RetainedEarningsAccumulatedLosses 2021-07-31 09694914 core:ShareCapital 2021-07-31 09694914 core:CurrentFinancialInstruments 2021-07-31 09694914 core:CurrentFinancialInstruments core:WithinOneYear 2021-07-31 09694914 core:OfficeEquipment 2021-07-31 09694914 core:PlantMachinery 2021-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09694914

Universal Development Hampshire Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2022

 

Universal Development Hampshire Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Universal Development Hampshire Ltd

(Registration number: 09694914)
Balance Sheet as at 31 July 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

841

488

Current assets

 

Debtors

5

12,787

12,014

Cash at bank and in hand

 

37,028

29,116

 

49,815

41,130

Creditors: Amounts falling due within one year

6

(35,737)

(23,970)

Net current assets

 

14,078

17,160

Net assets

 

14,919

17,648

Capital and reserves

 

Called up share capital

7

50

50

Retained earnings

14,869

17,598

Shareholders' funds

 

14,919

17,648

For the financial year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 September 2022 and signed on its behalf by:
 

.........................................
Mr P Walsh
Director

.........................................
Mrs S Walsh
Director

 
     
 

Universal Development Hampshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 4G
Oakland Office Park
Aerodrome Road
Gosport
Hampshire
PO13 0GY
England

The principal place of business is:
28 Privett Road
Gosport
Hampshire
PO12 3SU
England

These financial statements were authorised for issue by the Board on 5 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of VAT.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Universal Development Hampshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Plant and machinery

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Universal Development Hampshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2021

843

980

1,823

Additions

-

1,041

1,041

At 31 July 2022

843

2,021

2,864

Depreciation

At 1 August 2021

562

773

1,335

Charge for the year

281

407

688

At 31 July 2022

843

1,180

2,023

Carrying amount

At 31 July 2022

-

841

841

At 31 July 2021

281

207

488

5

Debtors

Current

2022
£

2021
£

Trade debtors

12,787

10,245

Prepayments

-

1,459

Other debtors

-

310

 

12,787

12,014

 

Universal Development Hampshire Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Trade creditors

 

4,937

-

Taxation and social security

 

12,928

7,235

Other creditors

 

17,872

16,735

 

35,737

23,970

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £25 each

2

50

2

50