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REGISTERED NUMBER: 02305698 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 July 2023

for

U K I Ceramics Limited

U K I Ceramics Limited (Registered number: 02305698)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


U K I Ceramics Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: N Beswick-Tzimas
P Tzimas
Miss N Tzimas





SECRETARY: P Tzimas





REGISTERED OFFICE: 10 Wilford Bridge Spur
Melton
Woodbridge
Suffolk
IP12 1RJ





REGISTERED NUMBER: 02305698 (England and Wales)





ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ

U K I Ceramics Limited (Registered number: 02305698)

Statement of Financial Position
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,515 9,400
Investment property 5 110,000 110,000
113,515 119,400

CURRENT ASSETS
Stocks 457,722 507,040
Debtors 6 7,883 3,133
Cash at bank and in hand 63,575 76,826
529,180 586,999
CREDITORS
Amounts falling due within one year 7 40,916 37,353
NET CURRENT ASSETS 488,264 549,646
TOTAL ASSETS LESS CURRENT LIABILITIES 601,779 669,046

CREDITORS
Amounts falling due after more than one
year

8

8,250

11,250
NET ASSETS 593,529 657,796

CAPITAL AND RESERVES
Called up share capital 500 500
Fair value reserve 10 52,510 52,510
Retained earnings 540,519 604,786
593,529 657,796

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

U K I Ceramics Limited (Registered number: 02305698)

Statement of Financial Position - continued
31 July 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 18 April 2024 and were signed on its behalf by:





N Beswick-Tzimas - Director


U K I Ceramics Limited (Registered number: 02305698)

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

1. STATUTORY INFORMATION

U K I Ceramics 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

There was no trading by the company in the previous two years mainly due to the COVID-19 pandemic and the directors have confirmed that this position has continued into accounting period being reported on here and also into the period since 1 August 2022. It is anticipated that the company will recommence trading in the near future and the directors therefore consider that it is appropriate to adopt the going concern basis when preparing the company's financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of collectable ceramics is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on despatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment & website costs - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

U K I Ceramics Limited (Registered number: 02305698)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, bank facilities and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Government grants
Grants are accounted for using the accrual model.

Grants relating to revenue are recognised in the Statement of Income and Retained Earnings in the same period as the related costs for which the grant is intended to compensate. Where there are no related costs the grant is recognised in the period in which it becomes receivable.

Grants relating to assets are recognised in the Statement of Income and Retained Earnings over the expected useful life of the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

U K I Ceramics Limited (Registered number: 02305698)

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

4. TANGIBLE FIXED ASSETS
Computer
Fixtures equipment
Freehold and Motor & website
property fittings vehicles costs Totals
£    £    £    £    £   
COST
At 1 August 2022 146,699 40,091 9,750 5,438 201,978
Additions - 524 - - 524
Disposals - (302 ) - - (302 )
At 31 July 2023 146,699 40,313 9,750 5,438 202,200
DEPRECIATION
At 1 August 2022 138,455 40,091 9,049 4,983 192,578
Charge for year 5,868 44 175 322 6,409
Eliminated on disposal - (302 ) - - (302 )
At 31 July 2023 144,323 39,833 9,224 5,305 198,685
NET BOOK VALUE
At 31 July 2023 2,376 480 526 133 3,515
At 31 July 2022 8,244 - 701 455 9,400

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 110,000
NET BOOK VALUE
At 31 July 2023 110,000
At 31 July 2022 110,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2003 22,699
Valuation in 2004 3,500
Valuation in 2006 11,500
Valuation in 2011 (9,000 )
Valuation in 2012 (8,500 )
Valuation in 2019 17,500
Valuation in 2021 20,000
Cost 52,301
110,000

U K I Ceramics Limited (Registered number: 02305698)

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

5. INVESTMENT PROPERTY - continued

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 52,301 52,301

The investment property was valued on an open market basis on 31 July 2023 by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 7,883 3,133

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,750 3,000
Trade creditors 3,030 2,330
Taxation and social security - 121
Other creditors 35,136 31,902
40,916 37,353

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 8,250 11,250

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 216 374
Investment property gains 5,189 5,189
Unrelieved trading losses (5,405 ) (5,563 )
- -

10. RESERVES
Fair
value
reserve
£   
At 1 August 2022
and 31 July 2023 52,510