Registered number
03149163
U.K. Associates Limited
Filleted Accounts
31 March 2023
U.K. Associates Limited
Registered number: 03149163
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 25,567 15,178
Current assets
Stocks - 12,844
Debtors 4 2,702 336
Cash at bank and in hand 123,041 59,368
125,743 72,548
Creditors: amounts falling due within one year 5 (77,618) (47,707)
Net current assets 48,125 24,841
Total assets less current liabilities 73,692 40,019
Creditors: amounts falling due after more than one year 6 (21,667) (32,566)
Net assets 52,025 7,453
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 51,025 6,453
Shareholders' funds 52,025 7,453
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Stanuszek
Director
Approved by the board on 21 November 2023
U.K. Associates Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery etc 25% per annum on reducing balance
Motor Vehicles 25% per annum on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 23,626 79,255 102,881
Additions - 18,911 18,911
At 31 March 2023 23,626 98,166 121,792
Depreciation
At 1 April 2022 23,431 64,272 87,703
Charge for the year 49 8,473 8,522
At 31 March 2023 23,480 72,745 96,225
Net book value
At 31 March 2023 146 25,421 25,567
At 31 March 2022 195 14,983 15,178
4 Debtors 2023 2022
£ £
Trade debtors - 336
Other debtors 2,702 -
2,702 336
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 899 3,595
Trade creditors 5,763 4,897
Taxation and social security costs 58,023 25,497
Other creditors 2,933 3,718
77,618 47,707
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 21,667 31,667
Obligations under finance lease and hire purchase contracts - 899
21,667 32,566
7 Other information
U.K. Associates Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Station Parade
Uxbridge Road
Ealing Common
London
W5 3LD
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