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Registration number: 06971697

UCR Consultants Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

UCR Consultants Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

UCR Consultants Limited

Company Information

Director

D. C. Brookes

Company secretary

S. Brookes

Registered office

Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

Accountants

Robert Whowell & Partners LLP
Chartered Accountants
Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

 

UCR Consultants Limited

(Registration number: 06971697)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

40,651

13,005

Investment property

5

258,023

201,592

Investments

6

2,988,504

2,181,180

Other financial assets

7

77,856

138,808

 

3,365,034

2,534,585

Current assets

 

Debtors

8

1,775,663

1,954,964

Cash at bank and in hand

 

4,563,741

2,581,938

 

6,339,404

4,536,902

Creditors: Amounts falling due within one year

9

(3,693,419)

(996,083)

Net current assets

 

2,645,985

3,540,819

Total assets less current liabilities

 

6,011,019

6,075,404

Creditors: Amounts falling due after more than one year

9

(242,844)

(248,854)

Net assets

 

5,768,175

5,826,550

Capital and reserves

 

Called up share capital

10

175

175

Retained earnings

5,768,000

5,826,375

Shareholders' funds

 

5,768,175

5,826,550

 

UCR Consultants Limited

(Registration number: 06971697)
Balance Sheet as at 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.

Director's 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 director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 October 2023
 

.........................................
D. C. Brookes
Director

 

UCR Consultants Limited

Notes to the Unaudited Financial Statements for the 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:
Westwood House
78 Loughborough Road
Quorn
Loughborough
Leicestershire
LE12 8DX

These financial statements were authorised for issue by the director on 13 October 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

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.

 

UCR Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

20% straight line

Fixtures and fittings

25% straight line

Motor vehicles

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director has used observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account.

 

UCR Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit and loss account. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

UCR Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease. Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the useful life of the asset. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

UCR Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 35 (2022 - 35).

 

UCR Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Leasehold improvements
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

168,781

113,990

53,059

335,830

Additions

11,000

14,650

16,800

42,450

Disposals

-

-

(53,059)

(53,059)

At 31 July 2023

179,781

128,640

16,800

325,221

Depreciation

At 1 August 2022

160,830

108,936

53,059

322,825

Charge for the year

7,951

3,353

3,500

14,804

Eliminated on disposal

-

-

(53,059)

(53,059)

At 31 July 2023

168,781

112,289

3,500

284,570

Carrying amount

At 31 July 2023

11,000

16,351

13,300

40,651

At 31 July 2022

7,951

5,054

-

13,005

5

Investment property

2023
£

At 1 August 2022

201,592

Additions

56,431

At 31 July 2023

258,023

The director has reviewed the fair value of the investment property in line with its current condition and market value and considers that the value is still appropriate.

There has been no valuation of the investment property by an independent valuer.

 

UCR Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Investments

2023
£

2022
£

Investments in subsidiaries

2,988,504

2,181,180

Subsidiaries

£

Cost or valuation

At 1 August 2022

2,181,180

Additions

807,324

At 31 July 2023

2,988,504

Carrying amount

At 31 July 2023

2,988,504

At 31 July 2022

2,181,180

7

Other financial assets (current and non-current)

2023
£

2022
£

Non-current financial assets

Financial assets at fair value through profit and loss

77,856

138,808

8

Debtors

Current

2023
£

2022
£

Trade debtors

464,711

282,752

Prepayments

29,834

29,163

Other debtors

1,281,118

1,643,049

 

1,775,663

1,954,964

 

UCR Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

169,070

166,750

Trade creditors

 

969,420

82,167

Taxation and social security

 

318,092

417,812

Accruals and deferred income

 

2,400

2,400

Other creditors

 

2,234,437

326,954

 

3,693,419

996,083

Creditors include net obligations under hire purchase contracts which are secured of £2,320 (2022 - £nil).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

242,844

248,854

Creditors include net obligations under hire purchase contracts which are secured of £10,740 (2022 - £nil).

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A shares of £1 each

75

75

75

75

 

175

175

175

175

 

UCR Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

11

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

232,104

248,854

Hire purchase contracts

10,740

-

242,844

248,854

2023
£

2022
£

Current loans and borrowings

Other borrowings

166,750

166,750

Hire purchase contracts

2,320

-

169,070

166,750

12

Related party transactions

During the year the director and a related party received dividends of £246,000 (2022 - £180,000).

Transactions with the director

2023

At 1 August 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Director's loan

49,449

196,337

(246,000)

(214)

         
       

 

2022

At 1 August 2021
£

Advances to director
£

Repayments by director
£

At 31 July 2022
£

Director's loan

(497)

260,796

(210,850)

49,449

         
       

 

Summary of transactions with other related parties

UCR Consultants Limited charged loan interest to UCR Construction & Development Limited during the year of £92,587 (2022 - £82,836).
 

 

UCR Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

1,343,599

1,343,599

Advanced

1,064,666

1,064,666

Repaid

(1,519,147)

(1,519,147)

At end of period

889,118

889,118

2022

Other related parties
£

Total
£

At start of period

1,084,041

1,084,041

Advanced

469,026

469,026

Repaid

(209,468)

(209,468)

At end of period

1,343,599

1,343,599

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

8,784

8,784

Advanced

391,758

391,758

Impairment

(8,784)

(8,784)

At end of period

391,758

391,758

2022

Other related parties
£

Total
£

At start of period

190,672

190,672

Repaid

(181,454)

(181,454)

Impairment

(434)

(434)

At end of period

8,784

8,784