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REGISTERED NUMBER: 10515548 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

United Global Homes Ltd

United Global Homes Ltd (Registered number: 10515548)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


United Global Homes Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: M J Martins





REGISTERED OFFICE: Lime Tree Work Shop
11 Lime Tree Work Walk
Sevenoaks
Kent
TN13 1YH





REGISTERED NUMBER: 10515548 (England and Wales)





ACCOUNTANTS: Accounts by Simply Ltd
Unit 15
Runwell Hall Farmhouse
Hoe Lane
Rettendon
Essex
CM3 8DQ

United Global Homes Ltd (Registered number: 10515548)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 - 75,000
- 75,000

CURRENT ASSETS
Stocks 783,708 560,109
Debtors 6 35,353 33,818
Cash at bank and in hand 213 2,334
819,274 596,261
CREDITORS
Amounts falling due within one year 7 549,752 304,796
NET CURRENT ASSETS 269,522 291,465
TOTAL ASSETS LESS CURRENT
LIABILITIES

269,522

366,465

CREDITORS
Amounts falling due after more than
one year

8

415,388

499,871
NET LIABILITIES (145,866 ) (133,406 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (145,867 ) (133,407 )
SHAREHOLDERS' FUNDS (145,866 ) (133,406 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

United Global Homes Ltd (Registered number: 10515548)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 September 2024 and were signed by:





M J Martins - Director


United Global Homes Ltd (Registered number: 10515548)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

United Global Homes Ltd 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.

The company is a wholly owned subsidiary of United Global Group Limited. United Global Group Limited is a company incorporated in England & Wales with the following registered office and principal place of business:

Sevenoaks Business Centre, 15 Lime Tree House, Sevenoaks, Kent, TN13 1YH.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has a balance sheet deficit as at 31 December 2019. However, most of the long term funding for the company is by way of group company loans. The group companies have made a commitment not to seek repayment of the loans withing the foreseeable future. The director is confident the company will trade out of its current position and therefore believes it to be necessary and appropriate to prepare these accounts on a going concern basis.

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 etc - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.


United Global Homes Ltd (Registered number: 10515548)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 2,801
Disposals (2,801 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 2,801
Eliminated on disposal (2,801 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

United Global Homes Ltd (Registered number: 10515548)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 75,000
DEPRECIATION
Reclassification/transfer 75,000
At 31 December 2023 75,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 75,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 3,668 -
Amounts owed by group undertakings 21,058 25,908
Other debtors 10,627 7,910
35,353 33,818

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 6,035 6,035
Amounts owed to group undertakings 283,430 283,430
Other creditors 260,287 15,331
549,752 304,796

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 32,325 38,211
Amounts owed to group undertakings 383,063 461,660
415,388 499,871

United Global Homes Ltd (Registered number: 10515548)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1

10. GOING CONCERN

The company has a balance sheet deficit as at 31 December 2023. However, most of the long term funding for the company is by way of group company loans. The group companies have made a commitment not to seek repayment of the loans withing the foreseeable future. The director is confident the company will trade out of its current position and therefore believes it to be necessary and appropriate to prepare these accounts on a going concern basis.