2022-01-012022-12-312022-12-31false02845991Unique Collections 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Unique Collections Limited

Registered Number
02845991
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2022

Unique Collections Limited
Company Information
for the year from 1 January 2022 to 31 December 2022

Directors

Malhotra, Sandeep
Malhotra, Sat Parkash

Company Secretary

Malhotra, Rama

Registered Address

98 Cheetham Hill Road
Cheetham Hill
Manchester
M4 4EX

Registered Number

02845991 (England and Wales)
Unique Collections Limited
Balance Sheet as at
31 December 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets627,87634,149
Investment property73,100,0003,100,000
3,127,8763,134,149
Current assets
Debtors93,171,7463,285,558
Cash at bank and on hand167,4296
3,339,1753,285,564
Creditors amounts falling due within one year10(1,293,542)(1,835,993)
Net current assets (liabilities)2,045,6331,449,571
Total assets less current liabilities5,173,5094,583,720
Creditors amounts falling due after one year11(2,246,237)(756,488)
Provisions for liabilities12(83,000)(83,000)
Net assets2,844,2723,744,232
Capital and reserves
Share premium637,670637,670
Profit and loss account2,206,6023,106,562
Shareholders' funds2,844,2723,744,232
The financial statements were approved and authorised for issue by the Board of Directors on 16 February 2024, and are signed on its behalf by:
Malhotra, Sandeep
Director
Registered Company No. 02845991
Unique Collections Limited
Notes to the Financial Statements
for the year ended 31 December 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Intangible assets policy
Intangible assets are stated at cost and are amortised over their expected useful life.
Investment property policy
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss.
Revenue recognition policy
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.
Taxation policy
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 policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.
4.Employee information

20222021
Average number of employees during the year00
5.Intangible assets

Other

Total

££
Cost or valuation
Additions64,50064,500
Disposals(64,500)(64,500)
Net book value
At 31 December 22--
At 31 December 21--
6.Property, plant and equipment

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 January 2218,333223,338102,005343,676
At 31 December 2218,333223,338102,005343,676
Depreciation and impairment
At 01 January 2216,957196,19296,378309,527
Charge for year3444,0721,8576,273
At 31 December 2217,301200,26498,235315,800
Net book value
At 31 December 221,03223,0743,77027,876
At 31 December 211,37627,1465,62734,149
7.Investment property

£
Fair value at 01 January 223,100,000
At 31 December 223,100,000
8.Description of nature of transactions and balances with related parties
Included in debtors are balances with related party companies of £2,562,943.
9.Debtors

2022

2021

££
Trade debtors / trade receivables3,171,0753,277,558
Other debtors6718,000
Total3,171,7463,285,558
10.Creditors within one year

2022

2021

££
Trade creditors / trade payables533,683506,085
Bank borrowings and overdrafts131,64867,625
Taxation and social security-1,067
Other creditors602,0001,236,505
Accrued liabilities and deferred income26,21124,711
Total1,293,5421,835,993
11.Creditors after one year

2022

2021

££
Bank borrowings and overdrafts2,246,237756,488
Total2,246,237756,488
Amounts falling due after 5 years other then by instalments £2,259,771.
12.Provisions for liabilities

2022

2021

££
Net deferred tax liability (asset)83,00083,000
Total83,00083,000