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REGISTERED NUMBER: 08108600 (England and Wales)















Strategic Report, Report of the Directors and

Financial Statements for the Period 1 August 2023 to 31 January 2024

for

Subscan UDS Limited

Subscan UDS Limited (Registered number: 08108600)






Contents of the Financial Statements
for the Period 1 August 2023 to 31 January 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Income and Retained Earnings 9

Balance Sheet 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Subscan UDS Limited

Company Information
for the Period 1 August 2023 to 31 January 2024







DIRECTORS: K A Mason
A R Mason



REGISTERED OFFICE: Subscan House
126 Whitehall Road
Leeds
LS12 1AE



REGISTERED NUMBER: 08108600 (England and Wales)



AUDITORS: CLA Evelyn Partners Limited
Chartered Accountants &
Statutory Auditors
3rd Floor
56 Wellington Street
Leeds
West Yorkshire
LS1 2EE



BANKERS: HSBC Bank PLC
Church Lane
Pudsey
West Yorkshire
LS28 7DN

Subscan UDS Limited (Registered number: 08108600)

Strategic Report
for the Period 1 August 2023 to 31 January 2024

The directors present their strategic report for the period 1 August 2023 to 31 January 2024.

The Company's principal activity during the period continued to be that of drainage, surveying and engineering works. There have not been any significant changes in the Company's activities in the period under review.

REVIEW OF BUSINESS
The company has continued to maintain its larger framework contracts in the period with a focus on service delivery and solidifying relationships with our customer base. With this approach we have seen continuation of the larger framework contracts and extension of others. Due to our establishment of our Derby depot this has led us to gain further highways work, servicing national companies on their cyclical and scheme works securing further revenue and long term contracts. The period has seen a continued recovery from the previous period's investment costs with improved margins. Our Leeds drainage teams have also continued to service its current customer base and has assisted in works in the Midlands area, while we have seen an increase in survey and CCTV works leading to an expansion in this sector of the industry.

PRINCIPAL RISKS AND UNCERTAINTIES
Whilst there is risk with the non-contract client base using alternative suppliers, the board is confident that the work that they have within the domestic highway contract, with Balfour Beatty; commercial highways, with Carnell Supports Services; rail infrastructure, with Construction Marine and QTS; utilities, with Yorkshire Water; and local authority work with Leeds CC and Mears will not diminish, as these markets are committed to the continuous maintenance of their respective infrastructures. These clients account for 40% of the Company's total turnover.

FINANCIAL KEY PERFORMANCE INDICATORS
The company continues to focus on profitability within contracts and works, while increasing efficiency within the business to assist with profitability growth. The business expects to achieve a Net Profit of 2% in the next financial year,which continues to show improved profitability based upon the previous two periods results.

FUTURE DEVELOPMENTS
Moving forward the board continues to focus on operational effectiveness and due to rises in wages to assist employees with the current cost of living crisis we have sought to become more efficient in order to increase margins across all company divisions and expand on works which see higher margin returns. Our CCTV and Survey works have increase 40% on previous years and continue to do so. Continuing the development of our specialist works with the national rail network has allowed us to gain further work in this sector which we expect to see profitable revenue in the coming years and an increase of 22% in turnover arising from the railways work. In addition we have seen the need to increase our fleet of Jet Vacs in order to meet the demand for our services which has enable the company to continue to expand its operations and client service commitments.

With previous changes to management and company structure the board feels confident in its ability to move the company forward in a profitable and effective manner.

The board still regards wages, fuel costs to be high risk in the uncertain economic times as these continue to be our largest costs and exposed risk factors.

ON BEHALF OF THE BOARD:





K A Mason - Director


13 August 2024

Subscan UDS Limited (Registered number: 08108600)

Report of the Directors
for the Period 1 August 2023 to 31 January 2024

The directors present their report with the financial statements of the company for the period 1 August 2023 to 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of drainage, surveying and engineering works.

DIVIDENDS
Dividends for the year were £NIL (2023: £NIL).

EVENTS SINCE THE END OF THE PERIOD
Information relating to events since the end of the period is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 August 2023 to the date of this report.

K A Mason
A R Mason

FINANCIAL INSTRUMENTS
The company holds or issues financial instruments in order to achieve three main objectives, being:

(a) to finance its operations;

(b) to manage its exposure to interest and credit risks arising from its operations and from its sources of finance; and

(c) for trading purposes.

In additions, various financial instruments (e.g. trade debtors, trade creditors, accruals and prepayments)
arise directly from the company's operations.

Transactions in financial instruments result in the company assuming or transferring to another party one or more of the financial risks described below.

Interest rate risk -
Fixed and variable interest rates are arranged when obtaining interest bearing loans and borrowings.

Credit risk -
The company monitors credit risk closely and considers that its current policies of credit checks meets its
objectives of managing exposure to credit risk.

MATTERS COVERED IN THE STRATEGIC REPORT
Disclosures with regards to principal activity, review of the business, future developments, principal risks and uncertainties and financial and other key performance indicators are included within the strategic report.


Subscan UDS Limited (Registered number: 08108600)

Report of the Directors
for the Period 1 August 2023 to 31 January 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
Under section 487(2) of the Companies Act 2006, CLA Evelyn Partners Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

ON BEHALF OF THE BOARD:





K A Mason - Director


13 August 2024

Report of the Independent Auditors to the Members of
Subscan UDS Limited

Opinion
We have audited the financial statements of Subscan UDS Limited (the 'company') for the period ended 31 January 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 January 2024 and of its loss for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Subscan UDS Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Subscan UDS Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management; and from our commercial knowledge and experience of the heating sector
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
- understanding the design of the company's remuneration policies.

To address the risk of fraud through management bias and override of controls, including the impact on revenue recognition, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- used data analytics software to test journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosure to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.


Report of the Independent Auditors to the Members of
Subscan UDS Limited

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Matthew Barton BA (Hons) FCA CTA (Senior Statutory Auditor)
for and on behalf of CLA Evelyn Partners Limited
Chartered Accountants &
Statutory Auditors
3rd Floor
56 Wellington Street
Leeds
West Yorkshire
LS1 2EE

29 August 2024

Subscan UDS Limited (Registered number: 08108600)

Statement of Income and Retained Earnings
for the Period 1 August 2023 to 31 January 2024

Period Period
1/8/23 1/2/22
to to
31/1/24 31/7/23
Notes £    £   

TURNOVER 5 5,527,458 14,470,443

Cost of sales 2,738,965 7,136,175
GROSS PROFIT 2,788,493 7,334,268

Administrative expenses 2,528,233 7,259,357
260,260 74,911

Other operating income 41,915 127,221
OPERATING PROFIT 8 302,175 202,132

Interest receivable and similar income 225 169
302,400 202,301

Interest payable and similar expenses 9 303,148 625,772
LOSS BEFORE TAXATION (748 ) (423,471 )

Tax on loss 10 1,017 (96,485 )
LOSS FOR THE FINANCIAL PERIOD (1,765 ) (326,986 )

Retained earnings at beginning of period 938,694 1,265,680

RETAINED EARNINGS AT END OF
PERIOD

936,929

938,694

Subscan UDS Limited (Registered number: 08108600)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 4,802,139 5,040,071
4,802,139 5,040,071

CURRENT ASSETS
Stocks 13 35,000 35,000
Debtors 14 2,819,955 2,901,140
Cash at bank and in hand 122,198 86,815
2,977,153 3,022,955
CREDITORS
Amounts falling due within one year 15 3,702,963 3,668,871
NET CURRENT LIABILITIES (725,810 ) (645,916 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,076,329

4,394,155

CREDITORS
Amounts falling due after more than one
year

16

(2,937,289

)

(3,254,367

)

PROVISIONS FOR LIABILITIES 19 (202,011 ) (200,994 )
NET ASSETS 937,029 938,794

CAPITAL AND RESERVES
Called up share capital 20 100 100
Retained earnings 21 936,929 938,694
SHAREHOLDERS' FUNDS 937,029 938,794

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





K A Mason - Director


Subscan UDS Limited (Registered number: 08108600)

Cash Flow Statement
for the Period 1 August 2023 to 31 January 2024

Period Period
1/8/23 1/2/22
to to
31/1/24 31/7/23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 733,440 1,519,354
Interest paid (114,640 ) (187,328 )
Interest element of hire purchase
payments paid

(188,508

)

(438,446

)
Net cash from operating activities 430,292 893,580

Cash flows from investing activities
Purchase of tangible fixed assets (82,448 ) (1,419,751 )
Sale of tangible fixed assets 13,177 69,822
Interest received 225 169
Net cash from investing activities (69,046 ) (1,349,760 )

Cash flows from financing activities
New loans in year - 572,100
Capital repayments in year (246,357 ) 234,871
Amount introduced by directors 500 -
Amount withdrawn by directors (80,006 ) (318,527 )
Net cash from financing activities (325,863 ) 488,444

Increase in cash and cash equivalents 35,383 32,264
Cash and cash equivalents at
beginning of period

2

86,815

54,551

Cash and cash equivalents at end of
period

2

122,198

86,815

Subscan UDS Limited (Registered number: 08108600)

Notes to the Cash Flow Statement
for the Period 1 August 2023 to 31 January 2024

1. RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
Period Period
1/8/23 1/2/22
to to
31/1/24 31/7/23
£    £   
Loss before taxation (748 ) (423,471 )
Depreciation charges 293,521 907,291
Loss on disposal of fixed assets 13,682 39,110
Finance costs 303,148 625,772
Finance income (225 ) (169 )
609,378 1,148,533
Decrease/(increase) in trade and other debtors 160,691 (464,632 )
(Decrease)/increase in trade and other creditors (36,629 ) 835,453
Cash generated from operations 733,440 1,519,354

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 January 2024
31/1/24 1/8/23
£    £   
Cash and cash equivalents 122,198 86,815
Period ended 31 July 2023
31/7/23 1/2/22
£    £   
Cash and cash equivalents 86,815 54,729
Bank overdrafts - (178 )
86,815 54,551


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/8/23 Cash flow At 31/1/24
£    £    £   
Net cash
Cash at bank and in hand 86,815 35,383 122,198
86,815 35,383 122,198
Debt
Finance leases (3,613,849 ) 8,364 (3,605,485 )
Debts falling due within 1 year (336,682 ) 117,465 (219,217 )
Debts falling due after 1 year (462,655 ) 120,528 (342,127 )
(4,413,186 ) 246,357 (4,166,829 )
Total (4,326,371 ) 281,740 (4,044,631 )

Subscan UDS Limited (Registered number: 08108600)

Notes to the Financial Statements
for the Period 1 August 2023 to 31 January 2024

1. STATUTORY INFORMATION

Subscan UDS Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Changes in reporting period
The financial statements cover the period 1st August 2023 to 31 January 2024. The decision was made to extend the prior period to absorb as much of the investment costs as possible within one accounting period as finance charges and depreciation are high in the period due to the investments made into operational assets and the development of the Derby Depot. The current period has been shortered to 6 months. Therefore, the comparatives are not entirely comparable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes. Turnover in respect of work completed but not invoiced at the year end as included within accrued income in debtors.

Interest income
Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

Government grants
Government grants are recognised in the period in which they become receivable and all conditions in respect of the grant are fulfilled. Income from grants is included other operating income.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided on the following basis:

Goodwill-10% straight-line

Subscan UDS Limited (Registered number: 08108600)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 31 January 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 10% on reducing balance
Computer equipment - 33% on reducing balance

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 the assets less their residual value over their estimated useful lives, on a reducing balance basis.

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 the Statement of Income and Retained Earnings.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress and finished goods include labour and attributable overheads.

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 non-puttable ordinary shares.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Subscan UDS Limited (Registered number: 08108600)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 31 January 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Leased assets: the company as lessee
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 the Statement of Income and Retained Earnings so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Finance costs
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Subscan UDS Limited (Registered number: 08108600)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 31 January 2024

3. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

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.

Creditors
Short term creditors are measured at the transaction price.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to the obligation, taking into account relevant risks and uncertainties.

When payments, are eventually made, they are charged to the provision carried in the Balance Sheet.

Equity dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

4. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these key judgements and estimates have been made include accrued income and depreciation.

5. TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company.

6. EMPLOYEES AND DIRECTORS
Period Period
1/8/23 1/2/22
to to
31/1/24 31/7/23
£    £   
Wages and salaries 2,431,925 6,873,587
Social security costs 231,253 547,193
Other pension costs 62,945 167,099
2,726,123 7,587,879

Subscan UDS Limited (Registered number: 08108600)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 31 January 2024

6. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the period was as follows:
Period Period
1/8/23 1/2/22
to to
31/1/24 31/7/23

Direct labour 109 109
Sales and admin 20 19
Directors 2 2
131 130

7. DIRECTORS' REMUNERATION

The directors' remuneration during the year was £8,512 (2023: £38,489).

8. OPERATING PROFIT

The operating profit is stated after charging:

Period Period
1/8/23 1/2/22
to to
31/1/24 31/7/23
£    £   
Hire of plant and machinery 219,490 441,772
Other operating leases 49,586 131,523
Depreciation - owned assets 293,521 906,476
Loss on disposal of fixed assets 13,682 39,110
Goodwill amortisation - 814
Auditor's remuneration 7,000 7,000

9. INTEREST PAYABLE AND SIMILAR EXPENSES
Period Period
1/8/23 1/2/22
to to
31/1/24 31/7/23
£    £   
Bank loan interest 114,640 187,326
Hire purchase 188,508 438,446
303,148 625,772

Subscan UDS Limited (Registered number: 08108600)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 31 January 2024

10. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the loss for the period was as follows:
Period Period
1/8/23 1/2/22
to to
31/1/24 31/7/23
£    £   
Deferred tax 1,017 (96,485 )
Tax on loss 1,017 (96,485 )

Reconciliation of total tax charge/(credit) included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period Period
1/8/23 1/2/22
to to
31/1/24 31/7/23
£    £   
Loss before tax (748 ) (423,471 )
Loss multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 25%)

(187

)

(105,868

)

Effects of:
Expenses not deductible for tax purposes 1,204 2,468
Capital allowances in excess of depreciation - (2,637 )
Utilisation of tax losses - (84,390 )
Adjustments to tax charge in respect of previous periods - 93,942

Total tax charge/(credit) 1,017 (96,485 )

11. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 January 2024 10,004
AMORTISATION
At 1 August 2023
and 31 January 2024 10,004
NET BOOK VALUE
At 31 January 2024 -
At 31 July 2023 -

Subscan UDS Limited (Registered number: 08108600)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 31 January 2024

12. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 1,389,940 14,353 6,031,091 131,101 7,566,485
Additions 750 150 79,469 2,079 82,448
Disposals - - (51,982 ) - (51,982 )
At 31 January 2024 1,390,690 14,503 6,058,578 133,180 7,596,951
DEPRECIATION
At 1 August 2023 691,743 4,166 1,747,034 83,471 2,526,414
Charge for period 56,302 834 226,722 9,663 293,521
Eliminated on disposal - - (25,123 ) - (25,123 )
At 31 January 2024 748,045 5,000 1,948,633 93,134 2,794,812
NET BOOK VALUE
At 31 January 2024 642,645 9,503 4,109,945 40,046 4,802,139
At 31 July 2023 698,197 10,187 4,284,057 47,630 5,040,071

Included within the above assets are obligations under hire purchase with a net book value of £4,275,345 (2023: £4,540,857) which are secured by the company.

13. STOCKS
2024 2023
£    £   
Stocks 35,000 35,000

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,200,007 1,513,215
Other debtors 84,063 69,271
Directors' loan accounts 861,943 782,437
VAT 107,754 140,654
Prepayments and accrued income 566,188 395,563
2,819,955 2,901,140

The value of sales invoices factored at the year end was £1,023,106 (2023: £1,302,846).

Subscan UDS Limited (Registered number: 08108600)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 31 January 2024

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans (see note 17) 219,217 336,682
Hire purchase contracts (see note 18) 1,010,323 822,137
Trade creditors 630,526 646,703
Social security and other taxes 761,875 744,684
Other creditors 955,674 1,086,161
Accruals and deferred income 125,348 32,504
3,702,963 3,668,871

Included within the above liabilities are other creditors £879,917 (2023: £1,047,624) and obligations under hire purchases and finance leases of £1,010,323 (2023: £822.,137) which are secured by the company.

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans (see note 17) 342,127 462,655
Hire purchase contracts (see note 18) 2,595,162 2,791,712
2,937,289 3,254,367

Included within the above liabilities are obligations under hire purchase and finance leases of £2,595,162 (2023: £2,791,712) which are secured by the company.

17. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans 219,217 336,682

Amounts falling due between two and five years:
Other loans 342,127 462,655

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 1,010,323 822,137
Between one and five years 2,595,162 2,791,712
3,605,485 3,613,849

Subscan UDS Limited (Registered number: 08108600)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 31 January 2024

18. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 36,075 36,075
Between one and five years 144,300 144,300
In more than five years 63,131 81,169
243,506 261,544

19. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 202,011 200,994

Deferred
tax
£   
Balance at 1 August 2023 200,994
Provided during period 1,017
Balance at 31 January 2024 202,011

The provision for deferred taxation is made up as follows:

20242023
£   £   
Accelerated capital allowances1,052,1471,093,449
Deferred tax on pension(9,658)(1,278)
Tax loss(836,135)(891,177)
206,354200,994

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 A Ordinary 1.00 100 100

21. RESERVES
Retained
earnings
£   

At 1 August 2023 938,694
Deficit for the period (1,765 )
At 31 January 2024 936,929

Subscan UDS Limited (Registered number: 08108600)

Notes to the Financial Statements - continued
for the Period 1 August 2023 to 31 January 2024

22. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The pension cost charge represents contributions payable by the company to the fund and amounted to £62,945 (2023: £167,098). Contributions totalling £38,633 (2023: £5,111) were payable to the fund at year end and are included in creditors.

23. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in debtors is a balance of £861,943 due from the directors (2023: £782,437). This amount is unsecured and interest free. The maximum outstanding balance during the year was £861,943.

24. RELATED PARTY TRANSACTIONS

The key management personnel compensation for the year is £154,356 (2023: £191,856).

No further transactions with related parties were undertaken such as are required to be disclosed
under FRS 102.

25. POST BALANCE SHEET EVENTS

Following the period-end, the company's parent undertaking became Subscan Group Limited, a company registered in England and Wales.

26. ULTIMATE CONTROLLING PARTY

The Company's parent undertaking is Subscan Group Limited, a company registered in England and Wales.