Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-312022-09-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12349662 2022-09-01 2023-08-31 12349662 2021-09-01 2022-08-31 12349662 2023-08-31 12349662 2022-08-31 12349662 c:Director1 2022-09-01 2023-08-31 12349662 d:CurrentFinancialInstruments 2023-08-31 12349662 d:CurrentFinancialInstruments 2022-08-31 12349662 d:Non-currentFinancialInstruments 2023-08-31 12349662 d:Non-currentFinancialInstruments 2022-08-31 12349662 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12349662 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 12349662 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 12349662 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 12349662 d:ShareCapital 2023-08-31 12349662 d:ShareCapital 2022-08-31 12349662 d:RetainedEarningsAccumulatedLosses 2023-08-31 12349662 d:RetainedEarningsAccumulatedLosses 2022-08-31 12349662 c:OrdinaryShareClass1 2022-09-01 2023-08-31 12349662 c:OrdinaryShareClass1 2023-08-31 12349662 c:OrdinaryShareClass1 2022-08-31 12349662 c:FRS102 2022-09-01 2023-08-31 12349662 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 12349662 c:FullAccounts 2022-09-01 2023-08-31 12349662 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12349662 d:EntityControlledByKeyManagementPersonnel1 2022-09-01 2023-08-31 12349662 d:EntityControlledByKeyManagementPersonnel1 2023-08-31 12349662 d:EntityControlledByKeyManagementPersonnel1 2022-08-31 12349662 2 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12349662









UCG (DAVENTRY) LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
UCG (DAVENTRY) LIMITED
REGISTERED NUMBER: 12349662

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 4 
5,083,136
4,644,861

Debtors: amounts falling due after more than one year
 5 
97,496
-

Debtors: amounts falling due within one year
 5 
125,024
197,580

Cash at bank and in hand
  
53,089
14,835

  
5,358,745
4,857,276

Creditors: amounts falling due within one year
 6 
(5,322,097)
(4,864,079)

Creditors: amounts falling due after more than one year
  
(87,852)
-

Net liabilities
  
(51,204)
(6,803)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(51,304)
(6,903)

  
(51,204)
(6,803)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



P J M Williams
Director
Date: 2 April 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
UCG (DAVENTRY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

UGC (Daventry) Limited is a private company, limited by shares, and is incorporated in England and Wales. The address of its registered office is 26-28 Neal Street, London, WC2H 9QQ.
The financial statements are presented in sterling which is the functional currency of the company. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operation for the foreseeable future. The director understands the parent company, Universal Consolidated Group Limited, will continue to maintain its financial support of the company, by deferment of the amounts due to it or by other means.
The director is therefore satisfied that the company will have sufficient resources to enable it to continue its normal activities for the foreseeable future, and that it is therefore appropriate to prepare the financial statements on a going concern basis

 
2.3

Revenue

Turnover represents proceeds from property sales, and rental income on a receivable basis, and is stated net of value added tax where appropriate
Rental income is accrued on a time apportioned basis under the term of the lease

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.6

Stocks

Stock, which comprises properties in hand held for resale, is valued at the lower of cost and estimated selling price less future costs expected to be incurred on disposal.

Purchases and sales of properties are recognised when legally binding contracts which are irrevocable and effectively unconditional are exchanged and, in the case of disposals, where completion has taken place prior to the date on which the financial statements are approved.

Page 2

 
UCG (DAVENTRY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Page 3

 
UCG (DAVENTRY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Stocks

2023
2022
£
£

Work in progress (development properties)
5,083,136
4,644,861


Page 4

 
UCG (DAVENTRY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
97,496
-


2023
2022
£
£

Trade debtors
70,246
-

Other debtors
54,778
196,376

Prepayments and accrued income
-
1,204

125,024
197,580



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
41,751
1,892

Amounts owed to group undertakings
4,631,097
4,797,049

Other creditors
435,018
-

Accruals and deferred income
214,231
65,138

5,322,097
4,864,079



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
87,852
-

87,852
-


Page 5

 
UCG (DAVENTRY) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



9.


Related party transactions

The company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions or balances with other wholly owned members of the group.
At the balance sheet date, the company owed £420,000 (2022 - £420,000) to Covent Garden Estates Limited, a company under similar control.


10.


Controlling party

The immediate parent company is Universal Consolidated Group Limited, a company registered in England and Wales. The address of its registered office is 26-28 Neal Street, London WC2H 9QQ.
The ultimate parent company is Universal Consolidated Group Holdings Limited, a company registered in England and Wales.


Page 6