Caseware UK (AP4) 2023.0.135 2023.0.135 2023-02-01truefalsefalsedesign and installation of water fountains and displays44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02876596 2023-02-01 2024-01-31 02876596 2022-02-01 2023-01-31 02876596 2024-01-31 02876596 2023-01-31 02876596 c:Director1 2023-02-01 2024-01-31 02876596 c:Director2 2023-02-01 2024-01-31 02876596 d:PlantMachinery 2023-02-01 2024-01-31 02876596 d:MotorVehicles 2023-02-01 2024-01-31 02876596 d:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 02876596 d:OtherPropertyPlantEquipment 2024-01-31 02876596 d:OtherPropertyPlantEquipment 2023-01-31 02876596 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 02876596 d:CurrentFinancialInstruments 2024-01-31 02876596 d:CurrentFinancialInstruments 2023-01-31 02876596 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 02876596 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 02876596 d:ShareCapital 2024-01-31 02876596 d:ShareCapital 2023-01-31 02876596 d:CapitalRedemptionReserve 2024-01-31 02876596 d:CapitalRedemptionReserve 2023-01-31 02876596 d:RetainedEarningsAccumulatedLosses 2024-01-31 02876596 d:RetainedEarningsAccumulatedLosses 2023-01-31 02876596 c:OrdinaryShareClass1 2023-02-01 2024-01-31 02876596 c:OrdinaryShareClass1 2024-01-31 02876596 c:OrdinaryShareClass1 2023-01-31 02876596 c:OrdinaryShareClass2 2023-02-01 2024-01-31 02876596 c:OrdinaryShareClass2 2024-01-31 02876596 c:OrdinaryShareClass2 2023-01-31 02876596 c:OrdinaryShareClass3 2023-02-01 2024-01-31 02876596 c:OrdinaryShareClass3 2024-01-31 02876596 c:OrdinaryShareClass3 2023-01-31 02876596 c:OrdinaryShareClass4 2023-02-01 2024-01-31 02876596 c:OrdinaryShareClass4 2024-01-31 02876596 c:OrdinaryShareClass4 2023-01-31 02876596 c:OrdinaryShareClass5 2023-02-01 2024-01-31 02876596 c:OrdinaryShareClass5 2024-01-31 02876596 c:OrdinaryShareClass5 2023-01-31 02876596 c:FRS102 2023-02-01 2024-01-31 02876596 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 02876596 c:FullAccounts 2023-02-01 2024-01-31 02876596 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 02876596 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 02876596 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 02876596 2 2023-02-01 2024-01-31 02876596 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-31 02876596 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 02876596 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02876596









USTIGATE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 January 2024

 
USTIGATE LIMITED
Registered number: 02876596

BALANCE SHEET
As at 31 January 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
152,054
162,946

Current assets
  

Stocks
 5 
383,097
302,463

Debtors
  
368,212
583,241

Cash at bank and in hand
 6 
580,568
426,624

  
1,331,877
1,312,328

Creditors: amounts falling due within one year
 7 
(307,807)
(392,331)

Net current assets
  
 
 
1,024,070
 
 
919,997

Total assets less current liabilities
  
1,176,124
1,082,943

  

Net assets
  
1,176,124
1,082,943


Capital and reserves
  

Called up share capital 
 10 
100
100

Capital redemption reserve
  
5
5

Profit and loss account
  
1,176,019
1,082,838

  
1,176,124
1,082,943


Page 1

 
USTIGATE LIMITED
Registered number: 02876596
    
BALANCE SHEET (CONTINUED)
As at 31 January 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by 




L J Sutherland Esq
J J Sutherland Esq
Director
Director


Date: 20 June 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
USTIGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 January 2024

1.


General information

Ustigate Limited is a company limited by share capital and incorporated in England and Wales. The registered office of the company is 11 Masthead, Capstan Court, Crossways Business Park, Dartford, Kent DA2 6QG. The principal activity of the company during the year was that of the design, manufacture and installation of water fountains and displays.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
USTIGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 January 2024

2.Accounting policies (continued)

 
2.3

Revenue

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 consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.


Plant & Machinery
-
20%
reducing balance
Motor Vehicles
-
20%
/ 30% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
USTIGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 January 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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 debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Leased assets

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Taxation

Tax is recognised in profit or loss 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.

The current 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.

Page 5

 
USTIGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 January 2024

2.Accounting policies (continued)

  
2.13

Judgments in applying accounting policies and key sources of estimation uncertainty

The directors have made estimations and assumptions regarding stocks and work in progress, deferred income and also on other provisions. These estimated and underlying assumptions are based on historical experience and other factors that are considered to be relevant and reviewed on an ongoing basis. The amounts have been recognised in the year ended 31 January 2024 listed below:
Stocks and work in progress - £383,097 
(2023 - £302,463)
Deferred income - £31,614 (2023 - £17,992)


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 February 2023
294,925


Additions
38,716


Disposals
(28,290)



At 31 January 2024

305,351



Depreciation


At 1 February 2023
131,979


Charge for the year on owned assets
42,102


Disposals
(20,784)



At 31 January 2024

153,297



Net book value



At 31 January 2024
152,054



At 31 January 2023
162,946

Page 6

 
USTIGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 January 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, is as follows:


2024
2023
£
£



Motor vehicles
-
32,189


5.


Stocks

2024
2023
£
£

Work in progress
383,097
302,463



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
580,568
426,624



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
65,952
309,316

Corporation tax
34,399
18,746

Other taxation and social security
27,642
37,422

Obligations under finance lease and hire purchase contracts
-
1,180

Other creditors
140,000
-

Accruals and deferred income
39,814
25,667

307,807
392,331


Liabilities under hire purchase contracts are secured against the assets to which they relate.

Page 7

 
USTIGATE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 January 2024

8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
-
1,180

-
1,180


9.


Related party transactions

During the year the company received services from a company under common control, to the value of £986,093 (2023: £1,363,122). As at the balance sheet date the company owed £140,000 (2023: £5,400)  to this related party.


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



500 (2023 - 500) Ordinary A shares of £0.01 each
5
5
500 (2023 - 500) Ordinary B shares of £0.01 each
5
5
3,500 (2023 - 3,500) Ordinary C shares of £0.01 each
35
35
3,500 (2023 - 3,500) Ordinary D shares of £0.01 each
35
35
2,000 (2023 - 2,000) Ordinary F shares of £0.01 each
20
20

100

100


 
Page 8