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COMPANY REGISTRATION NUMBER: 07108810
Universal Protection Limited
Filleted Unaudited Financial Statements
31 December 2023
Universal Protection Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
330,859
268,933
Current assets
Stocks
5,800
5,800
Debtors
6
100,000
Cash at bank and in hand
69,257
95,721
--------
---------
75,057
201,521
Creditors: amounts falling due within one year
7
314,156
353,297
---------
---------
Net current liabilities
239,099
151,776
---------
---------
Total assets less current liabilities
91,760
117,157
Creditors: amounts falling due after more than one year
8
117,320
130,525
---------
---------
Net liabilities
( 25,560)
( 13,368)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 25,561)
( 13,369)
--------
--------
Shareholders deficit
( 25,560)
( 13,368)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Universal Protection Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 28 February 2024 , and are signed on behalf of the board by:
Jasbir Uppal
Director
Company registration number: 07108810
Universal Protection Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 136 St Albans Road, Watford, WD24 4FT, Hertfordshire.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
25% straight line
Equipment
-
15% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Land and buildings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 January 2023
253,428
35,194
3,533
292,155
Additions
91,237
91,237
---------
---------
-------
---------
At 31 December 2023
253,428
126,431
3,533
383,392
---------
---------
-------
---------
Depreciation
At 1 January 2023
19,689
3,533
23,222
Charge for the year
29,311
29,311
---------
---------
-------
---------
At 31 December 2023
49,000
3,533
52,533
---------
---------
-------
---------
Carrying amount
At 31 December 2023
253,428
77,431
330,859
---------
---------
-------
---------
At 31 December 2022
253,428
15,505
268,933
---------
---------
-------
---------
6. Debtors
2023
2022
£
£
Other debtors
100,000
----
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,037
54,148
Corporation tax
150
2,684
Social security and other taxes
3,592
5,038
Other creditors
304,377
291,427
---------
---------
314,156
353,297
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
117,320
130,525
---------
---------
9. Financial instruments
There is no requirement to disclose any financial instruments.
10. Director's advances, credits and guarantees
There are no material requirement to disclose transitions with the director other than as disclosed with creditors due within one year.
11. Related party transactions
The company was under the control of Mr J Uppal throughout the current and previous year. Mr J Uppal is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.