2023-01-012023-12-312023-12-31false02845991Unique Collections 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Unique Collections Limited

Registered Number
02845991
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Unique Collections Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Malhotra, Sandeep
Malhotra, Sat Parkash

Company Secretary

Malhotra, Rama

Registered Address

98 Cheetham Hill Road
Cheetham Hill
Manchester
M4 4EX

Registered Number

02845991 (England and Wales)
Unique Collections Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets4134,26327,876
Investment property54,000,0003,100,000
4,134,2633,127,876
Current assets
Debtors6167,1243,171,746
Cash at bank and on hand5,481167,429
172,6053,339,175
Creditors amounts falling due within one year7(443,646)(1,251,542)
Net current assets (liabilities)(271,041)2,087,633
Total assets less current liabilities3,863,2225,215,509
Creditors amounts falling due after one year8(2,278,239)(2,288,237)
Provisions for liabilities9(339,454)(83,000)
Net assets1,245,5292,844,272
Capital and reserves
Share premium637,670637,670
Profit and loss account607,8592,206,602
Shareholders' funds101,245,5292,844,272
The financial statements were approved and authorised for issue by the Board of Directors on 28 June 2024, and are signed on its behalf by:
Malhotra, Sandeep
Director
Registered Company No. 02845991
Unique Collections Limited
Notes to the Financial Statements
for the year ended 31 December 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.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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
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 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Fixtures and fittings15
Vehicles25
Office Equipment33
Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss.
2.Average number of employees

20232022
Average number of employees during the year00
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 January 23-18,333223,338102,005343,676
Additions131,000---131,000
At 31 December 23131,00018,333223,338102,005474,676
Depreciation and impairment
At 01 January 23-17,301200,26498,235315,800
Charge for year19,6502583,4611,24424,613
At 31 December 2319,65017,559203,72599,479340,413
Net book value
At 31 December 23111,35077419,6132,526134,263
At 31 December 22-1,03223,0743,77027,876
5.Investment property
Investment properties are valued at fair value by the directors at the year end.

£
Fair value at 01 January 233,100,000
Fair value adjustments900,000
At 31 December 234,000,000
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables167,1243,171,075
Other debtors-671
Total167,1243,171,746
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables398,873533,683
Bank borrowings and overdrafts14,53491,648
Taxation and social security27,239-
Other creditors-600,000
Accrued liabilities and deferred income3,00026,211
Total443,6461,251,542
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts2,278,2392,288,237
Total2,278,2392,288,237
Amounts falling due between 2-5 years other then by instalments £2,259,771.
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)339,45483,000
Total339,45483,000
10.Fair value reserve

£
Fair value reserve at 01 January 231,046,315
Transferred in period643,546
At 31 December 231,689,861
11.Related party transactions
Included in debtors are balances with related party companies of £92,788. Included in creditors are balances with related party companies of £100,000.