Caseware UK (AP4) 2022.0.179 2022.0.179 2022-02-01falsedesign and installation of water fountains and displays44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02876596 2022-02-01 2023-01-31 02876596 2021-02-01 2022-01-31 02876596 2023-01-31 02876596 2022-01-31 02876596 c:Director1 2022-02-01 2023-01-31 02876596 c:Director2 2022-02-01 2023-01-31 02876596 d:PlantMachinery 2022-02-01 2023-01-31 02876596 d:MotorVehicles 2022-02-01 2023-01-31 02876596 d:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 02876596 d:OtherPropertyPlantEquipment 2023-01-31 02876596 d:OtherPropertyPlantEquipment 2022-01-31 02876596 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 02876596 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 02876596 d:CurrentFinancialInstruments 2023-01-31 02876596 d:CurrentFinancialInstruments 2022-01-31 02876596 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 02876596 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 02876596 d:ShareCapital 2023-01-31 02876596 d:ShareCapital 2022-01-31 02876596 d:CapitalRedemptionReserve 2023-01-31 02876596 d:CapitalRedemptionReserve 2022-01-31 02876596 d:RetainedEarningsAccumulatedLosses 2023-01-31 02876596 d:RetainedEarningsAccumulatedLosses 2022-01-31 02876596 c:OrdinaryShareClass1 2022-02-01 2023-01-31 02876596 c:OrdinaryShareClass1 2023-01-31 02876596 c:OrdinaryShareClass1 2022-01-31 02876596 c:OrdinaryShareClass2 2022-02-01 2023-01-31 02876596 c:OrdinaryShareClass2 2023-01-31 02876596 c:OrdinaryShareClass2 2022-01-31 02876596 c:OrdinaryShareClass3 2022-02-01 2023-01-31 02876596 c:OrdinaryShareClass3 2023-01-31 02876596 c:OrdinaryShareClass3 2022-01-31 02876596 c:OrdinaryShareClass4 2022-02-01 2023-01-31 02876596 c:OrdinaryShareClass4 2023-01-31 02876596 c:OrdinaryShareClass4 2022-01-31 02876596 c:OrdinaryShareClass5 2022-02-01 2023-01-31 02876596 c:OrdinaryShareClass5 2023-01-31 02876596 c:OrdinaryShareClass5 2022-01-31 02876596 c:FRS102 2022-02-01 2023-01-31 02876596 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 02876596 c:FullAccounts 2022-02-01 2023-01-31 02876596 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 02876596 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 02876596 d:HirePurchaseContracts d:WithinOneYear 2022-01-31 02876596 2 2022-02-01 2023-01-31 02876596 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 02876596 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02876596









USTIGATE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 January 2023

 
USTIGATE LIMITED
Registered number: 02876596

BALANCE SHEET
As at 31 January 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
162,946
122,299

Current assets
  

Stocks
 5 
302,463
343,071

Debtors
  
583,241
701,499

Cash at bank and in hand
 6 
426,624
466,153

  
1,312,328
1,510,723

Creditors: amounts falling due within one year
 7 
(392,331)
(666,770)

Net current assets
  
 
 
919,997
 
 
843,953

Total assets less current liabilities
  
1,082,943
966,252

  

Net assets
  
1,082,943
966,252


Capital and reserves
  

Called up share capital 
 10 
100
100

Capital redemption reserve
  
5
5

Profit and loss account
  
1,082,838
966,147

  
1,082,943
966,252


Page 1

 
USTIGATE LIMITED
Registered number: 02876596
    
BALANCE SHEET (CONTINUED)
As at 31 January 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 comprehensive income 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 




L J Sutherland Esq
J J Sutherland Esq
Director
Director


Date: 31 August 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
USTIGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 January 2023

1.


General information

Ustigate Limited is a company limited by share capital and incorporated in England and Wales. The registered office of the company is 11 Masthead, Capstan Court, Crossways Business Park, Dartford, Kent DA2 6QG. The principal activity of the company during the year was that of the design, manufacture and installation of water fountains and displays.

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

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.

 
2.3

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.

Page 3

 
USTIGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 January 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.


Plant & Machinery
-
20%
reducing balance
Motor Vehicles
-
20%
reducing balance

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.

 
2.4

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
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.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
USTIGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 January 2023

2.Accounting policies (continued)

 
2.9

Leased assets

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.10

Interest income

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

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 5

 
USTIGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 January 2023

4.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 February 2022
220,235


Additions
74,690



At 31 January 2023

294,925



Depreciation


At 1 February 2022
97,936


Charge for the year on owned assets
20,248


Charge for the year on financed assets
13,795



At 31 January 2023

131,979



Net book value



At 31 January 2023
162,946



At 31 January 2022
122,299

The net book value of assets held under finance leases or hire purchase contracts, included above, is as follows:


2023
2022
£
£



Motor vehicles
32,189
52,553


5.


Stocks

2023
2022
£
£

Work in progress
302,463
343,071


Page 6

 
USTIGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 January 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
426,624
466,153



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
309,316
377,920

Corporation tax
18,746
9,356

Other taxation and social security
37,422
45,103

Obligations under finance lease and hire purchase contracts
1,180
20,016

Other creditors
-
75,000

Accruals and deferred income
25,667
139,375

392,331
666,770


Liabilities under hire purchase contracts are secured against the assets to which they relate.


8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
1,180
20,016

1,180
20,016


9.


Related party transactions

During the year the company received services from a company under common control, to the value of £1,363,122 (2022: £1,247,046). As at the balance sheet date the company owed £5,400 to this related party.


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



500 (2022 - 500) Ordinary A shares of £0.01 each
5
5
Page 7

 
USTIGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 January 2023

10.Share capital (continued)

500 (2022 - 500) Ordinary B shares of £0.01 each
5
5
3,500 (2022 - 3,500) Ordinary C shares of £0.01 each
35
35
3,500 (2022 - 3,500) Ordinary D shares of £0.01 each
35
35
2,000 (2022 - 2,000) Ordinary F shares of £0.01 each
20
20

100

100


 
Page 8