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Company registration number: 12643046







FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 DECEMBER 2022


UK-TEC LIMITED






































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UK-TEC LIMITED
 


 
COMPANY INFORMATION


Directors
R E Burke 
A C Ashton (appointed 27 April 2023)




Registered number
12643046



Registered office
The Wharf Abbey Mill Business Park
Lower Eashing

Godalming

GU7 2QN




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


UK-TEC LIMITED
 



CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 5


 


UK-TEC LIMITED
REGISTERED NUMBER:12643046



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
5,111

  
-
5,111

Current assets
  

Debtors: amounts falling due within one year
 5 
949
1,654

Bank and cash balances
  
286
75

  
1,235
1,729

Creditors: amounts falling due within one year
 6 
(488,140)
(173,255)

Net current liabilities
  
 
 
(486,905)
 
 
(171,526)

Total assets less current liabilities
  
(486,905)
(166,415)

  

Net liabilities
  
(486,905)
(166,415)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(487,005)
(166,515)

  
(486,905)
(166,415)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A C Ashton
Director
Date: 10 October 2023

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 


UK-TEC LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

1.


General information

UK-Tec Limited is a private company limited by shares, incorporated in the England and Wales under Companies Act 2006. The registered office and pricipal trading address is given on the Company Information page. The functional and presentational currency is GBP.
The prior period was extended to be in line with the group it is a part of.  Therefore the 17 month prior period is not comparable with the current year.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors ceased the trade within the Company after the end of 2022 and hived its trade and assets/liabilities into another group company.  Due to this, it would not be suitable for the Company to prepare its financial statements on a going concern basis. There have not been any adjustments in the financial statements in the year to 31 December 2022 from this change in accounting policy.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 2

 


UK-TEC LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2021 - 3).

Page 3

 


UK-TEC LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2022
5,111



At 31 December 2022

5,111



Depreciation


Charge for the period on owned assets
5,111



At 31 December 2022

5,111



Net book value



At 31 December 2022
-



At 31 December 2021
5,111


5.


Debtors

2022
2021
£
£


Trade debtors
-
900

Other debtors
949
754

949
1,654



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Amounts owed to group undertakings
483,649
168,324

Accruals and deferred income
4,491
4,931

488,140
173,255



7.Financial commitments

Loans included within entities of the group that the Company is a part are secured by fixed and floating charges over the assets of the Company and the group. At the year end the loans amounted to £186,225,036 (2021: £176,242,950).

Page 4

 


UK-TEC LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2022

8.


Controlling party

The parent undertaking of the smallest group in which consolidated financial statements are prepared, which include this company, is Arrow Communications Holdings Limited. The company’s registered address is The Wharf, Abbey Mills Business Park, Lower Eashing, Godalming, Surrey, GU7 2QN.


9.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2022 was unqualified.

The audit report was signed on 20 October 2023 by  (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 5