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Registration number: 12337685

Unison Triumph Investments (UK) Ltd

Filleted Unaudited Financial Statements

for the Period from 31 December 2022 to 31 December 2023

 

Unison Triumph Investments (UK) Ltd
(Registration number: 12337685)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Unison Triumph Investments (UK) Ltd
(Registration number: 12337685)

Company Information

Directors

Mr I M F Ismail

Mr S B Shahrani

Registered office

49 Sandling Way
St. Marys Island
Chatham
Kent
ME4 3AZ

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Unison Triumph Investments (UK) Ltd
(Registration number: 12337685)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

1

-

Tangible assets

5

3,746,479

1,306

Investment property

6

672,000

672,000

 

4,418,480

673,306

Current assets

 

Stocks

7

31,504

-

Debtors

8

53,702

-

Cash at bank and in hand

 

140,784

-

 

225,990

-

Creditors: Amounts falling due within one year

9

(202,263)

(648,750)

Net current assets/(liabilities)

 

23,727

(648,750)

Total assets less current liabilities

 

4,442,207

24,556

Creditors: Amounts falling due after more than one year

9

(1,649,081)

-

Net assets

 

2,793,126

24,556

Capital and reserves

 

Called up share capital

200

100

Share premium reserve

2,865,284

-

Revaluation reserve

46,920

46,920

Profit and loss account

(119,278)

(22,464)

Total equity

 

2,793,126

24,556

For the financial period ending 31 December 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Unison Triumph Investments (UK) Ltd
(Registration number: 12337685)

Balance Sheet as at 31 December 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 July 2024 and signed on its behalf by:
 

.........................................
Mr I M F Ismail
Director

 

Unison Triumph Investments (UK) Ltd
(Registration number: 12337685)

Notes to the Unaudited Financial Statements for the Period from 31 December 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
49 Sandling Way
St. Marys Island
Chatham
Kent
ME4 3AZ
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Unison Triumph Investments (UK) Ltd
(Registration number: 12337685)

Notes to the Unaudited Financial Statements for the Period from 31 December 2022 to 31 December 2023

Asset class

Depreciation method and rate

Freehold property

RV deemed above cost

Fixtures and fittings

10% straight line basis

Office equipment

33.3% straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Not amortised. Held at £1

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Unison Triumph Investments (UK) Ltd
(Registration number: 12337685)

Notes to the Unaudited Financial Statements for the Period from 31 December 2022 to 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 31 (2022 - 2).

 

Unison Triumph Investments (UK) Ltd
(Registration number: 12337685)

Notes to the Unaudited Financial Statements for the Period from 31 December 2022 to 31 December 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

1

1

At 31 December 2023

1

1

Amortisation

Carrying amount

At 31 December 2023

1

1

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 31 December 2022

-

1,492

1,492

Additions

3,690,598

64,613

3,755,211

At 31 December 2023

3,690,598

66,105

3,756,703

Depreciation

At 31 December 2022

-

186

186

Charge for the period

-

10,038

10,038

At 31 December 2023

-

10,224

10,224

Carrying amount

At 31 December 2023

3,690,598

55,881

3,746,479

At 30 December 2022

-

1,306

1,306

Included within the net book value of land and buildings above is £3,690,598 (2022 - £Nil) in respect of freehold land and buildings.
 

6

Investment properties

2023
£

At 31 December

672,000

At 31 December

672,000

 

Unison Triumph Investments (UK) Ltd
(Registration number: 12337685)

Notes to the Unaudited Financial Statements for the Period from 31 December 2022 to 31 December 2023

The property is deemed by the directors to be held at its market value at the year-end.

There has been no valuation of investment property by an independent valuer.

7

Stocks

2023
£

2022
£

Other stocks

31,504

-

8

Debtors

2023
£

2022
£

Other debtors

21,169

-

Prepayments and accrued income

32,533

-

Total current trade and other debtors

53,702

-

9

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

1,670

-

Trade creditors

 

94,300

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

648,000

Taxation and social security

 

54,736

-

Other creditors

 

45,307

-

Accrued expenses

 

6,250

750

 

202,263

648,750

Loans and borrowings include obligations under hire purchase contracts which are secured of £1,670 (2022 - £NIL).

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

1,000,581

-

Other non-current financial liabilities

 

648,500

-

 

1,649,081

-

Loans and borrowings include bank loans which are secured of £1,000,581 (2022 - £NIL).

 

Unison Triumph Investments (UK) Ltd
(Registration number: 12337685)

Notes to the Unaudited Financial Statements for the Period from 31 December 2022 to 31 December 2023

10

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior period were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

46,920

46,920

11

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

1,670

-

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

999,328

-

Hire purchase contracts

1,253

-

1,000,581

-