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REGISTERED NUMBER: 05902123 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Udal Supplies Limited

Udal Supplies Limited (Registered number: 05902123)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Udal Supplies Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mr D Watson
Mr E J Watson





REGISTERED OFFICE: 1 Forstal Road
Aylesford
Kent
ME20 7AU





REGISTERED NUMBER: 05902123 (England and Wales)





ACCOUNTANTS: McLean Reid
Chartered Accountants
1 Forstal Road
Aylesford
Kent
ME20 7AU

Udal Supplies Limited (Registered number: 05902123)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 450,000 -
Tangible assets 5 41,695 37,383
Investments 6 69,359 102,859
561,054 140,242

CURRENT ASSETS
Stocks 2,620,936 2,063,034
Debtors 7 345,313 650,286
Cash at bank 740,543 301,485
3,706,792 3,014,805
CREDITORS
Amounts falling due within one year 8 1,175,736 834,186
NET CURRENT ASSETS 2,531,056 2,180,619
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,092,110

2,320,861

CREDITORS
Amounts falling due after more than one year 9 (975,011 ) (208,052 )

PROVISIONS FOR LIABILITIES (10,424 ) (7,103 )
NET ASSETS 2,106,675 2,105,706

CAPITAL AND RESERVES
Called up share capital 122 120
Retained earnings 2,106,553 2,105,586
SHAREHOLDERS' FUNDS 2,106,675 2,105,706

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

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

Udal Supplies Limited (Registered number: 05902123)

Balance Sheet - continued
31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:




Mr D Watson - Director



Mr E J Watson - Director


Udal Supplies Limited (Registered number: 05902123)

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

1. STATUTORY INFORMATION

Udal Supplies 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.

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.

The directors consider that there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax on internet sales of coffee and syrup related products and sales of property developed by the company.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Taxation
Taxation for the year comprises current and deferred tax.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 11 ) .

Udal Supplies Limited (Registered number: 05902123)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 500,000
At 31 August 2023 500,000
AMORTISATION
Charge for year 50,000
At 31 August 2023 50,000
NET BOOK VALUE
At 31 August 2023 450,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 86,702
Additions 20,431
At 31 August 2023 107,133
DEPRECIATION
At 1 September 2022 49,319
Charge for year 16,119
At 31 August 2023 65,438
NET BOOK VALUE
At 31 August 2023 41,695
At 31 August 2022 37,383

6. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Shares in group undertakings 70,000 70,000
Loans to group undertakings (641 ) 32,859
69,359 102,859

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 September 2022
and 31 August 2023 70,000
NET BOOK VALUE
At 31 August 2023 70,000
At 31 August 2022 70,000

Udal Supplies Limited (Registered number: 05902123)

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

6. FIXED ASSET INVESTMENTS - continued
Loans to
group
undertakings
£   
At 1 September 2022 32,859
Repayment in year (33,500 )
At 31 August 2023 (641 )

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 339,797 578,517
Other debtors 5,516 71,769
345,313 650,286

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 147,925 88,572
Trade creditors 485,714 526,540
Taxation and social security 172,520 -
Other creditors 369,577 219,074
1,175,736 834,186

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 975,011 208,052

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,122,936 296,624

The bank loan is secured by a fixed and floating charge over all the assets of the company.

11. RELATED PARTY DISCLOSURES

The company is controlled by the directors.