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Registration number: 07599847

Unispectra Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

Unispectra Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Financial Statements

9 to 16

 

Unispectra Ltd

Company Information

Directors

Mr Arturas Radzevicius

Mr Andrew Zerov

Company secretary

Britannia Accountancy & Tax Services Ltd

Registered office

A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

Accountants

Britannia Accountancy & Tax Services Ltd
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

 

Unispectra Ltd

Directors' Report for the Year Ended 31 March 2022

The directors present their report and the financial statements for the year ended 31 March 2022.

Director of the company

The directors who held office during the year were as follows:

Mr Arturas Radzevicius

Mr Andrew Zerov

Principal activity

The principal activity of the company is retail services

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 13 September 2022 and signed on its behalf by:
 

.........................................
Mr Andrew Zerov
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Unispectra Ltd
for the Year Ended 31 March 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Unispectra Ltd for the year ended 31 March 2022 as set out on pages 4 to 16 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Unispectra Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Unispectra Ltd and state those matters that we have agreed to state to the Board of Directors of Unispectra Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Unispectra Ltd and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by Unispectra Ltd

It is your duty to ensure that Unispectra Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Unispectra Ltd. You consider that Unispectra Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Unispectra Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Britannia Accountancy & Tax Services Ltd
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

13 September 2022

 

Unispectra Ltd

Profit and Loss Account for the Year Ended 31 March 2022

Note

2022
£

2021
£

Turnover

 

989,557

602,997

Cost of sales

 

(862,367)

(471,706)

Gross profit

 

127,190

131,291

Administrative expenses

 

(102,165)

(89,816)

Operating profit

 

25,025

41,475

Interest payable and similar expenses

 

(12,845)

(2,527)

Profit before tax

4

12,180

38,948

Tax on profit

 

(798)

(219)

Profit for the financial year

 

11,382

38,729

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Unispectra Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2022

2022
£

2021
£

Profit for the year

11,382

38,729

Total comprehensive income for the year

11,382

38,729

 

Unispectra Ltd

(Registration number: 07599847)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

5

21,700

24,800

Tangible assets

6

18,536

22,604

 

40,236

47,404

Current assets

 

Stocks

7

283,358

283,358

Debtors

8

59,209

22,538

Cash at bank and in hand

 

14,892

17,005

 

357,459

322,901

Creditors: Amounts falling due within one year

9

(215,382)

(199,377)

Net current assets

 

142,077

123,524

Net assets

 

182,313

170,928

Capital and reserves

 

Called up share capital

10

180,013

180,010

Profit and loss account

2,300

(9,082)

Shareholders' funds

 

182,313

170,928

For the financial year ending 31 March 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.

Approved and authorised by the Board on 13 September 2022 and signed on its behalf by:
 

 

Unispectra Ltd

(Registration number: 07599847)
Balance Sheet as at 31 March 2022

.........................................
Mr Andrew Zerov
Director

 

Unispectra Ltd

Statement of Changes in Equity for the Year Ended 31 March 2022

Share capital
£

Profit and loss account
£

Total
£

At 1 April 2021

180,010

(9,082)

170,928

Profit for the year

-

11,382

11,382

Total comprehensive income

-

11,382

11,382

New share capital subscribed

3

-

3

At 31 March 2022

180,013

2,300

182,313

Share capital
£

Profit and loss account
£

Total
£

At 1 April 2020

180,010

(47,811)

132,199

Profit for the year

-

38,729

38,729

Total comprehensive income

-

38,729

38,729

At 31 March 2021

180,010

(9,082)

170,928

 

Unispectra Ltd

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

1

General information

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

The address of its registered office is:
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

The principal place of business is:
Unit 3, Palmerston Business Park
Palmerston Drive
Fareham
Hampshire
PO14 1DJ
United Kingdom

These financial statements were authorised for issue by the Board on 13 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

 

Unispectra Ltd

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

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

Plant and machinery

18% on net book value

Vehicles

18% on net book value

Office equipment

18% on net book value

Furniture and fittings

18% on net book value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% on cost

 

Unispectra Ltd

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

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 merchandise sold or 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Unispectra Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2021 - 4).

4

Profit before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Depreciation expense

4,068

4,962

Amortisation expense

3,100

3,100

 

Unispectra Ltd

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

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2021

31,000

31,000

At 31 March 2022

31,000

31,000

Amortisation

At 1 April 2021

6,200

6,200

Amortisation charge

3,100

3,100

At 31 March 2022

9,300

9,300

Carrying amount

At 31 March 2022

21,700

21,700

At 31 March 2021

24,800

24,800

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2021

28,238

11,350

1,071

40,659

At 31 March 2022

28,238

11,350

1,071

40,659

Depreciation

At 1 April 2021

15,069

2,043

943

18,055

Charge for the year

2,370

1,675

23

4,068

At 31 March 2022

17,439

3,718

966

22,123

Carrying amount

At 31 March 2022

10,799

7,632

105

18,536

At 31 March 2021

13,169

9,307

128

22,604

 

Unispectra Ltd

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

7

Stocks

2022
£

2021
£

Work in progress

151,000

151,000

Other inventories

132,358

132,358

283,358

283,358

8

Debtors

2022
£

2021
£

Trade debtors

33,359

20,397

Other debtors

25,850

2,141

59,209

22,538

 

Unispectra Ltd

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

9

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

11

-

7,135

Trade creditors

 

83,566

114,683

Taxation and social security

 

14,684

18,867

Accruals and deferred income

 

6,480

8,619

Other creditors

 

110,652

50,073

 

215,382

199,377

10

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

Preference of £1,000 each

180

180,000

180

180,000

Ordinary A of £1 (2021 - £0) each

1

1

-

-

Ordinary B of £1 (2021 - £0) each

1

1

-

-

Ordinary C of £1 (2021 - £0) each

1

1

-

-

 

193

180,013

190

180,010

11

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Bank borrowings

-

5,000

Bank overdrafts

-

672

Other borrowings

-

1,463

-

7,135

 

Unispectra Ltd

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

12

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

8,944

8,784