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REGISTERED NUMBER: 04208139 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Universal Ventilation Systems Limited

Universal Ventilation Systems Limited (Registered number: 04208139)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Universal Ventilation Systems Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr C Grapes
Mr S Milburn





SECRETARY: Mr C Grapes





REGISTERED OFFICE: Site 1
Newtown Industrial Estate
Birtley
Co. Durham
DH3 2QW





REGISTERED NUMBER: 04208139 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Universal Ventilation Systems Limited (Registered number: 04208139)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 97,635 75,291
97,635 75,291

CURRENT ASSETS
Stocks 6,500 3,000
Debtors 6 381,585 401,820
Cash at bank and in hand 297,577 192,856
685,662 597,676
CREDITORS
Amounts falling due within one year 7 291,324 228,732
NET CURRENT ASSETS 394,338 368,944
TOTAL ASSETS LESS CURRENT
LIABILITIES

491,973

444,235

CREDITORS
Amounts falling due after more than
one year

8

(12,774

)

(20,075

)

PROVISIONS FOR LIABILITIES (18,551 ) (14,311 )
NET ASSETS 460,648 409,849

CAPITAL AND RESERVES
Called up share capital 2 2
Profit and loss account 460,646 409,847
SHAREHOLDERS' FUNDS 460,648 409,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

Universal Ventilation Systems Limited (Registered number: 04208139)

Balance Sheet - continued
30 November 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by:




Mr C Grapes - Director



Mr S Milburn - Director


Universal Ventilation Systems Limited (Registered number: 04208139)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Universal Ventilation Systems 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable from installation of ventilation systems, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc
- 33% on cost, 25% on reducing balance and 15% on reducing
balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are measured at the lower of cost and estimated selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase.


Universal Ventilation Systems Limited (Registered number: 04208139)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. ACCOUNTING POLICIES - continued
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Leasing
Assets acquired under finance leases are capitalised and depreciated in the same manner as tangible fixed assets. The related obligations, net of future finance charges are included in creditors.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Employee benefits
Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 20 ) .

Universal Ventilation Systems Limited (Registered number: 04208139)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 187,562
Additions 53,960
Disposals (13,997 )
At 30 November 2023 227,525
DEPRECIATION
At 1 December 2022 112,271
Charge for year 29,748
Eliminated on disposal (12,129 )
At 30 November 2023 129,890
NET BOOK VALUE
At 30 November 2023 97,635
At 30 November 2022 75,291


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 297,019 323,668
Other debtors 84,566 78,152
381,585 401,820

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Finance leases (see note 9) 7,300 7,722
Trade creditors 211,039 144,618
Taxation and social security 24,094 21,447
Other creditors 48,891 54,945
291,324 228,732

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Finance leases (see note 9) 12,774 20,075

Universal Ventilation Systems Limited (Registered number: 04208139)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2023 2022
£    £   
Net obligations repayable:
Within one year 7,300 7,722
Between one and five years 12,774 20,075
20,074 27,797

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Finance leases 20,074 27,797

The finance lease liability is secured against the assets to which it relates. The net book value of fixed assets held under finance lease at 30 November 2023 was £32,581 (2022 - £43,443).

11. CONTINGENT LIABILITIES

The company is subject to a cross guarantee with a related company in respect of borrowings. At the balance sheet date the amount outstanding, to which this guarantee relates, amounted to £105,257 (2022 - £113,001).