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Registration number: 13501396

UK Competitions Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

UK Competitions Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

UK Competitions Ltd

Company Information

Directors

C J Goodwin

N James

G J Park

Registered office

3 Sadler Street
Wells
Somerset
BA5 2RR

Accountants

Burton Sweet Limited
Chartered Accountants and Business advisors
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

UK Competitions Ltd

(Registration number: 13501396)
Balance Sheet
31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

294

227

Current assets

 

Debtors

5

-

2,128

Cash at bank and in hand

 

3,443

2,226

 

3,443

4,354

Creditors: Amounts falling due within one year

6

(82,236)

(49,392)

Net current liabilities

 

(78,793)

(45,038)

Net liabilities

 

(78,499)

(44,811)

Capital and reserves

 

Called up share capital

3

3

Retained earnings

(78,502)

(44,814)

Shareholders' deficit

 

(78,499)

(44,811)

 

UK Competitions Ltd

(Registration number: 13501396)
Balance Sheet
31 July 2023

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 November 2023 and signed on its behalf by:
 

.........................................
C J Goodwin
Director

.........................................
N James
Director

.........................................
G J Park
Director

 

UK Competitions Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Sadler Street
Wells
Somerset
BA5 2RR

These financial statements were authorised for issue by the Board on 23 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. Trading conditions have continued to be challenging and company continues to operate as a going concern with the ongoing support of the directors the directors.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

UK Competitions Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 July 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% per annum straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business and are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers and are recognised at transaction price. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

UK Competitions Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 July 2023

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 August 2022

303

303

Additions

190

190

At 31 July 2023

493

493

Depreciation

At 1 August 2022

76

76

Charge for the year

123

123

At 31 July 2023

199

199

Carrying amount

At 31 July 2023

294

294

At 31 July 2022

227

227

5

Debtors

2023
£

2022
£

Trade debtors

-

2,128

-

2,128

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

38,430

25,826

Other creditors

43,806

23,566

82,236

49,392