2 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 02824838 2022-07-01 2023-06-30 02824838 2023-06-30 02824838 2022-06-30 02824838 2021-07-01 2022-06-30 02824838 2022-06-30 02824838 bus:Director3 2022-07-01 2023-06-30 02824838 core:LandBuildings core:LongLeaseholdAssets 2022-06-30 02824838 core:PlantMachinery 2022-06-30 02824838 core:FurnitureFittings 2022-06-30 02824838 core:MotorVehicles 2022-06-30 02824838 core:WithinOneYear 2023-06-30 02824838 core:WithinOneYear 2022-06-30 02824838 core:LandBuildings core:LongLeaseholdAssets 2022-07-01 2023-06-30 02824838 core:PlantMachinery 2022-07-01 2023-06-30 02824838 core:FurnitureFittings 2022-07-01 2023-06-30 02824838 core:MotorVehicles 2022-07-01 2023-06-30 02824838 core:ShareCapital 2023-06-30 02824838 core:ShareCapital 2022-06-30 02824838 core:CapitalRedemptionReserve 2023-06-30 02824838 core:CapitalRedemptionReserve 2022-06-30 02824838 core:RetainedEarningsAccumulatedLosses 2023-06-30 02824838 core:RetainedEarningsAccumulatedLosses 2022-06-30 02824838 core:LandBuildings core:LongLeaseholdAssets 2022-06-30 02824838 core:PlantMachinery 2022-06-30 02824838 core:FurnitureFittings 2022-06-30 02824838 core:MotorVehicles 2022-06-30 02824838 bus:SmallEntities 2022-07-01 2023-06-30 02824838 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 02824838 bus:FullAccounts 2022-07-01 2023-06-30 02824838 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 02824838 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 02824838
UNICORN AUTOMATION (NDT) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2023
UNICORN AUTOMATION (NDT) LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2023
2023
2022
Note
£
£
£
FIXED ASSETS
Tangible assets
5
282,757
CURRENT ASSETS
Stocks
144,500
Debtors
6
3,459
55,394
Cash at bank and in hand
1,638,254
719,896
------------
---------
1,641,713
919,790
CREDITORS: amounts falling due within one year
7
11,811
34,059
------------
---------
NET CURRENT ASSETS
1,629,902
885,731
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,629,902
1,168,488
------------
------------
NET ASSETS
1,629,902
1,168,488
------------
------------
CAPITAL AND RESERVES
Called up share capital fully paid
14,000
14,000
Capital redemption reserve
6,000
6,000
Profit and loss account
1,609,902
1,148,488
------------
------------
SHAREHOLDERS FUNDS
1,629,902
1,168,488
------------
------------
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 30 June 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 .
UNICORN AUTOMATION (NDT) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 1 November 2023 , and are signed on behalf of the board by:
Mr C T James
Director
Company registration number: 02824838
UNICORN AUTOMATION (NDT) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales, registered number 02824838 . The address of the registered office is Unit A/K Cavendish Courtyard, Weldon North Industrial Estate, Corby, Northamptonshire, NN17 5DZ, United Kingdom.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Long Leasehold Property
-
2% per annum straight line.
Plant & Machinery
-
20% per annum reducing balance
Fixtures & Fittings
-
20% per annum reducing balance
Motor vehicles
-
25% per annum reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stock and work in progress are valued at the lower of cost and net realisable value. Cost includes, where appropriate, production and other direct overheads.
Long term contracts
Long term contracts are assessed on a contract by contract basis and reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Turnover is ascertained in a manner appropriate to the stage of completion of the contract, and credit taken for profit earned to date when the outcome of the contract can be assessed with reasonable certainty. The amount by which turnover exceeds payments on account is included in debtors and to the extent that payments on account exceed relevant turnover, the excess is included as a creditor. The amount of long term contracts, at cost net of amounts transferred to cost of sales less provision for foreseeable losses and payments on account not matched with turnover, is included within stocks.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 7 ).
5. TANGIBLE ASSETS
Long leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2022
363,122
70,656
116,744
10,380
560,902
Disposals
( 363,122)
( 70,656)
( 116,744)
( 10,380)
( 560,902)
---------
--------
---------
--------
---------
At 30 June 2023
---------
--------
---------
--------
---------
Depreciation
At 1 July 2022
93,854
68,920
105,021
10,350
278,145
Disposals
( 93,854)
( 68,920)
( 105,021)
( 10,350)
( 278,145)
---------
--------
---------
--------
---------
At 30 June 2023
---------
--------
---------
--------
---------
Carrying amount
At 30 June 2023
---------
--------
---------
--------
---------
At 30 June 2022
269,268
1,736
11,723
30
282,757
---------
--------
---------
--------
---------
6. DEBTORS
2023
2022
£
£
Trade debtors
33,718
Other debtors
3,459
21,676
-------
--------
3,459
55,394
-------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
5,892
23,054
Social security and other taxes
919
4,815
Other creditors
5,000
6,190
--------
--------
11,811
34,059
--------
--------
8. RELATED PARTY TRANSACTIONS
The company has taken advantage of the provisions available in FRS102 not to disclose transactions with companies within a 100% owned group.