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COMPANY REGISTRATION NUMBER: 05823004
United Business & Leisure (Roundwood) Limited
Unaudited financial statements
31 October 2023
United Business & Leisure (Roundwood) Limited
Statement of financial position
31 October 2023
2023
2022
Note
£
£
£
£
Current assets
Stocks
1,617,047
1,612,462
Debtors
6
18,365
12,064
Cash at bank and in hand
16,939
28,679
-----------
-----------
1,652,351
1,653,205
Creditors: Amounts falling due within one year
7
( 1,577,681)
( 1,565,031)
-----------
-----------
Net current assets
74,670
88,174
-------
-------
Total assets less current liabilities
74,670
88,174
Accruals and deferred income
( 29,685)
( 24,419)
-------
-------
Net assets
44,985
63,755
-------
-------
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss account
43,985
62,755
-------
-------
Shareholders funds
44,985
63,755
-------
-------
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 income statement has not been delivered.
For the year ending 31 October 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 July 2024 , and are signed on behalf of the board by:
M E Tuddenham
Director
Company registration number: 05823004
United Business & Leisure (Roundwood) Limited
Notes to the financial statements
Year ended 31 October 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 Carpenters Barn, 45a Norwich Common, Wymondham, NR18 0SW.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
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 employees during the year was 17 (2022: 14 ).
5. Intangible assets
Goodwill
£
Cost
At 1 November 2022 and 31 October 2023
45,000
-------
Amortisation
At 1 November 2022 and 31 October 2023
45,000
-------
Carrying amount
At 31 October 2023
-------
At 31 October 2022
-------
6. Debtors
2023
2022
£
£
Trade debtors
2,054
1,259
Prepayments and accrued income
15,773
10,805
Other debtors
538
-------
-------
18,365
12,064
-------
-------
7. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
25,303
17,536
Social security and other taxes
7,067
4,830
Other creditors
1,545,311
1,542,665
-----------
-----------
1,577,681
1,565,031
-----------
-----------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
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