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REGISTERED NUMBER: 09698922 (England and Wales)















Ubuy Tech Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2023






Ubuy Tech Ltd (Registered number: 09698922)

Contents of the Financial Statements
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ubuy Tech Ltd

Company Information
for the year ended 31 July 2023







Directors: D J Alabdulhadi
A Alothman
R Alhassawi
Y Y Alhassawi





Registered office: Lytchett House
13 Freeland Park
Wareham Road
Dorset
BH16 6FA





Registered number: 09698922 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Ubuy Tech Ltd (Registered number: 09698922)

Balance Sheet
31 July 2023

2023 2022
Notes £ £
Current assets
Debtors 4 9,925 8,897,681
Cash at bank 307,572 188,951
317,497 9,086,632
Creditors
Amounts falling due within one year 5 317,477 9,086,612
Net current assets 20 20
Total assets less current liabilities 20 20

Capital and reserves
Called up share capital 6 20 20
Shareholders' funds 20 20

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.

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 8 April 2024 and were signed on its behalf by:





R Alhassawi - Director


Ubuy Tech Ltd (Registered number: 09698922)

Notes to the Financial Statements
for the year ended 31 July 2023


1. Statutory information

Ubuy Tech Ltd 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.

Turnover
Turnover represents amounts receivable for services provided in the year and is stated net of VAT.

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 balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Going concern
The directors consider the going concern basis to be appropriate because in their opinion the company will continue to obtain sufficient funding from its parent company on whom it is dependent to enable it to pay its debts as they fall due.

3. Employees and directors

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

4. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 9,925 8,897,681

5. Creditors: amounts falling due within one year
2023 2022
£ £
Other creditors 317,477 9,086,612

6. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
20 Ordinary £1 20 20

Ubuy Tech Ltd (Registered number: 09698922)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


7. Reserves
Retained
earnings
£

Profit for the year -
At 31 July 2023 -

8. Related party disclosure

Included in other creditors is £314,627 (2022- £9,083,883) due to a companies in which the directors have an interest.

Included in other debtors is £7,034 (2022 - £8,894,400) due from companies in which the directors have an interest.