Allied Universal Ltd 03283815 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is that of asset finance lenders Digita Accounts Production Advanced 6.30.9574.0 true true 03283815 2022-06-01 2023-05-31 03283815 2023-05-31 03283815 bus:OrdinaryShareClass1 2023-05-31 03283815 core:CurrentFinancialInstruments 2023-05-31 03283815 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 03283815 core:Non-currentFinancialInstruments 2023-05-31 03283815 bus:SmallEntities 2022-06-01 2023-05-31 03283815 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 03283815 bus:FullAccounts 2022-06-01 2023-05-31 03283815 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 03283815 bus:RegisteredOffice 2022-06-01 2023-05-31 03283815 bus:Director1 2022-06-01 2023-05-31 03283815 bus:Director2 2022-06-01 2023-05-31 03283815 bus:Director3 2022-06-01 2023-05-31 03283815 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 03283815 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 03283815 countries:England 2022-06-01 2023-05-31 03283815 2021-06-01 2022-05-31 03283815 2022-05-31 03283815 bus:OrdinaryShareClass1 2022-05-31 03283815 core:CurrentFinancialInstruments 2022-05-31 03283815 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 03283815 core:Non-currentFinancialInstruments 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03283815

Allied Universal Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Allied Universal Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Allied Universal Ltd

Company Information

Directors

Ms Una Lorna Hamilton

Mr Richard Ashley Feroze

Mr Steve Katan

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

 

Allied Universal Ltd

(Registration number: 03283815)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

113,580

478,150

Cash at bank and in hand

 

229,028

333,591

 

342,608

811,741

Creditors: Amounts falling due within one year

5

(204,920)

(48,305)

Net assets

 

137,688

763,436

Capital and reserves

 

Called up share capital

6

10,000

10,000

Retained earnings

127,688

753,436

Shareholders' funds

 

137,688

763,436

For the financial year ending 31 May 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 February 2024 and signed on its behalf by:
 

.........................................
Ms Una Lorna Hamilton
Director

 

Allied Universal Ltd

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

1

General information

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

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

The principal place of business is:
4 Mickelton Drive
Evington
Leicester
LE5 6GD

These financial statements were authorised for issue by the Board on 6 February 2024.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the funds advanced and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

 

Allied Universal Ltd

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

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.

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 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 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. 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.

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Allied Universal Ltd

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

4

Debtors

2023
£

2022
£

Trade debtors

113,257

478,150

Other debtors

323

-

 

113,580

478,150

Less non-current portion

(17,632)

(113,257)

95,948

364,893

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Taxation and social security

 

-

7,537

Dividends voted remaining outstanding

 

151,300

-

Corporation tax

 

42,202

27,350

Accrued expenses

 

11,418

13,418

 

204,920

48,305

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

10,000

10,000

10,000

10,000

         

7

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £79.50 (2022 - £85.00) per ordinary share

 

795,000

 

850,000

         

8

Related party transactions

Other transactions with directors

Included in creditors is an amount of £151,300 owed to S Katan, a director and shareholder of the company, relating to dividends voted during the period.