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UMH Loans Limited

Registered Number
10808818
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

UMH Loans Limited
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

Q Bull
U M H Milne Home

Registered Address

3 Coldbath Square
London
EC1R 5HL

Registered Number

10808818 (England and Wales)
UMH Loans Limited
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments3200,000-
200,000-
Current assets
Debtors41,357,8211,726,274
Cash at bank and on hand54,17682
1,411,9971,726,356
Creditors amounts falling due within one year5(1,346,541)(1,535,207)
Net current assets (liabilities)65,456191,149
Total assets less current liabilities265,456191,149
Net assets265,456191,149
Capital and reserves
Called up share capital100100
Profit and loss account265,356191,049
Shareholders' funds265,456191,149
The financial statements were approved and authorised for issue by the Board of Directors on 26 July 2024, and are signed on its behalf by:
Q Bull
Director
Registered Company No. 10808818
UMH Loans Limited
Notes to the Financial Statements
for the year ended 30 June 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The financial statements report the financial results only of the company and are presented in Sterling (£).
Statement of compliance
The financial statements have been prepared in compliance with Section 1A of Financial Reporting Standard 102 and Companies Act 2006 as these apply to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After making enquiries, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.
Revenue from rendering of services
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the interest received or receivable on loans.
Current taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial assets, including trade and other debtors, and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Basic financial liabilities, including trade and other creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently carried at amortised cost, using the effective interest method. Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment. If evidence of impairment is found, an impairment loss is recognised in the profit and loss account. Financial assets are derecognised when (i) the contractual rights to the cashflows from the asset expire or are settled, or (ii) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (iii) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.Average number of employees
The average number of employees includes directors.

20232022
Average number of employees during the year11
3.Fixed asset investments

Other loans1

Total

££
Cost or valuation
Additions200,000200,000
At 30 June 23200,000200,000
Net book value
At 30 June 23200,000200,000
At 30 June 22--

Notes

1Other loans classified under investments
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables1,291,4881,726,274
Other debtors66,333-
Total1,357,8211,726,274
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables-4,200
Taxation and social security27,13321,457
Other creditors1,317,6081,507,150
Accrued liabilities and deferred income1,8002,400
Total1,346,5411,535,207