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REGISTERED NUMBER: 06212574 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Union News, Food & Wine Limited

Union News, Food & Wine Limited (Registered number: 06212574)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Union News, Food & Wine Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mr A A Patel
Mr H A Patel





REGISTERED OFFICE: 164 Mollison Way
Edgware
Middlesex
HA8 5QZ





REGISTERED NUMBER: 06212574 (England and Wales)





ACCOUNTANTS: L P Patel & Co Limited
Accountants & Tax Advisers
164 Mollison Way
Edgware
Middlesex
HA8 5QZ

Union News, Food & Wine Limited (Registered number: 06212574)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 9,278 11,597
9,278 11,597

CURRENT ASSETS
Inventories 52,348 51,116
Debtors 6 415 4,620
Cash at bank and in hand 44,573 39,497
97,336 95,233
CREDITORS
Amounts falling due within one year 7 12,960 4,167
NET CURRENT ASSETS 84,376 91,066
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,654

102,663

CREDITORS
Amounts falling due after more than one
year

8

71,838

73,756
NET ASSETS 21,816 28,907

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 21,716 28,807
SHAREHOLDERS' FUNDS 21,816 28,907

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Union News, Food & Wine Limited (Registered number: 06212574)

Balance Sheet - continued
31 May 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2024 and were signed on its behalf by:




Mr A A Patel - Director



Mr H A Patel - Director


Union News, Food & Wine Limited (Registered number: 06212574)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

Union News, Food & Wine Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Union News, Food & Wine Limited (Registered number: 06212574)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 185,000
AMORTISATION
At 1 June 2022
and 31 May 2023 185,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

Union News, Food & Wine Limited (Registered number: 06212574)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor Computer
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022
and 31 May 2023 53,929 68,582 8,575 1,608 132,694
DEPRECIATION
At 1 June 2022 50,162 61,310 8,273 1,352 121,097
Charge for year 753 1,455 60 51 2,319
At 31 May 2023 50,915 62,765 8,333 1,403 123,416
NET BOOK VALUE
At 31 May 2023 3,014 5,817 242 205 9,278
At 31 May 2022 3,767 7,272 302 256 11,597

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 415 4,620

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 5,805 435
Taxation and social security 5,641 3,732
Other creditors 1,514 -
12,960 4,167

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Other creditors 71,838 73,756

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 71,838 73,756

Union News, Food & Wine Limited (Registered number: 06212574)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


9. DEFERRED TAX
£   
Balance at 1 June 2022 (454 )
Accelerated capital allowances 39
Balance at 31 May 2023 (415 )

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1.00 100 100

11. RESERVES
Retained
earnings
£   

At 1 June 2022 28,807
Profit for the year 12,909
Dividends (20,000 )
At 31 May 2023 21,716