Registered number
06989012
UNIVERSAL GURKHA SECURITY SERVICES LIMITED
Filleted Accounts
31 August 2023
UNIVERSAL GURKHA SECURITY SERVICES LIMITED
Registered number: 06989012
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,089 17,144
Current assets
Debtors 4 84,457 190,580
Cash at bank and in hand 337,048 246,819
421,505 437,399
Creditors: amounts falling due within one year 5 (137,115) (149,427)
Net current assets 284,390 287,972
Net assets 297,479 305,116
Capital and reserves
Called up share capital 100 100
Profit and loss account 297,379 305,016
Shareholders' funds 297,479 305,116
The directors are 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 directors acknowledge their 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.
Mr Krishnaraj Tamang
Director
Approved by the board on 2 February 2024
UNIVERSAL GURKHA SECURITY SERVICES LIMITED
Notes to the Accounts
for the year ended 31 August 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:
Fixtures, fittings, tools and equipment over 5 years
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
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 the Statement of comprehensive income where 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 Employees 2023 2022
Number Number
Average number of persons employed by the company 20 33
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 26,813 13,749 40,562
At 31 August 2023 26,813 13,749 40,562
Depreciation
At 1 September 2022 20,668 2,750 23,418
Charge for the year 2,680 1,375 4,055
At 31 August 2023 23,348 4,125 27,473
Net book value
At 31 August 2023 3,465 9,624 13,089
At 31 August 2022 6,145 10,999 17,144
4 Debtors 2023 2022
£ £
Trade debtors 84,457 190,580
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 16,216 21,078
Taxation and social security costs 75,187 84,254
Other creditors 45,712 44,095
137,115 149,427
6 Related party transactions
The Director's Loan to the company at the year end was £44,003 ( £44,096 in 2022). No interest was paid on this loan and repayable on demand. During the year company paid Directors close two family membesr the salary of £25,000(£66,800 in 2022) under PAYE scheme for their contribution to the company. During the year company paid the dividends of £25,000 ( £25,000 in 2022) to its director for his shareholding in the company and £24,000 ( £24,000 in 2022) to director's spouse for her shareholding in the company.
7 Controlling party
The company is under the control of its director by virtue of his shareholdings in the company .
8 Other information
UNIVERSAL GURKHA SECURITY SERVICES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Westmead House
Farnborough
Hampshire
GU14 7LP
UNIVERSAL GURKHA SECURITY SERVICES LIMITED 06989012 false 2022-09-01 2023-08-31 2023-08-31 VT Final Accounts October 2023 release 2 Mr Krishnaraj Tamang No description of principal activity 06989012 2021-09-01 2022-08-31 06989012 core:WithinOneYear 2022-08-31 06989012 core:ShareCapital 2022-08-31 06989012 core:RetainedEarningsAccumulatedLosses 2022-08-31 06989012 2022-09-01 2023-08-31 06989012 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 06989012 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 06989012 bus:Director40 2022-09-01 2023-08-31 06989012 1 2022-09-01 2023-08-31 06989012 2 2022-09-01 2023-08-31 06989012 core:PlantMachinery 2022-09-01 2023-08-31 06989012 core:Vehicles 2022-09-01 2023-08-31 06989012 countries:England 2022-09-01 2023-08-31 06989012 bus:FRS102 2022-09-01 2023-08-31 06989012 bus:FullAccounts 2022-09-01 2023-08-31 06989012 2023-08-31 06989012 core:WithinOneYear 2023-08-31 06989012 core:ShareCapital 2023-08-31 06989012 core:RetainedEarningsAccumulatedLosses 2023-08-31 06989012 core:PlantMachinery 2023-08-31 06989012 core:Vehicles 2023-08-31 06989012 2022-08-31 06989012 core:PlantMachinery 2022-08-31 06989012 core:Vehicles 2022-08-31 iso4217:GBP xbrli:pure