Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 11724790 Mr J Holland Mr R Knapper Mr S J Alcock iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11724790 2023-05-31 11724790 2024-05-31 11724790 2023-06-01 2024-05-31 11724790 frs-core:CurrentFinancialInstruments 2024-05-31 11724790 frs-core:Non-currentFinancialInstruments 2024-05-31 11724790 frs-core:BetweenOneFiveYears 2024-05-31 11724790 frs-core:ComputerEquipment 2024-05-31 11724790 frs-core:ComputerEquipment 2023-06-01 2024-05-31 11724790 frs-core:ComputerEquipment 2023-05-31 11724790 frs-core:FurnitureFittings 2024-05-31 11724790 frs-core:FurnitureFittings 2023-06-01 2024-05-31 11724790 frs-core:FurnitureFittings 2023-05-31 11724790 frs-core:MotorVehicles 2024-05-31 11724790 frs-core:MotorVehicles 2023-06-01 2024-05-31 11724790 frs-core:MotorVehicles 2023-05-31 11724790 frs-core:PlantMachinery 2024-05-31 11724790 frs-core:PlantMachinery 2023-06-01 2024-05-31 11724790 frs-core:PlantMachinery 2023-05-31 11724790 frs-core:WithinOneYear 2024-05-31 11724790 frs-core:ShareCapital 2024-05-31 11724790 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 11724790 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11724790 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 11724790 frs-bus:SmallEntities 2023-06-01 2024-05-31 11724790 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11724790 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11724790 frs-bus:Director1 2023-06-01 2024-05-31 11724790 frs-bus:Director2 2023-06-01 2024-05-31 11724790 frs-bus:Director3 2023-06-01 2024-05-31 11724790 frs-countries:EnglandWales 2023-06-01 2024-05-31 11724790 2022-05-31 11724790 2023-05-31 11724790 2022-06-01 2023-05-31 11724790 frs-core:CurrentFinancialInstruments 2023-05-31 11724790 frs-core:Non-currentFinancialInstruments 2023-05-31 11724790 frs-core:BetweenOneFiveYears 2023-05-31 11724790 frs-core:MotorVehicles 2022-06-01 2023-05-31 11724790 frs-core:WithinOneYear 2023-05-31 11724790 frs-core:ShareCapital 2023-05-31 11724790 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 11724790
UBIQ Group Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11724790
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 112,350 128,318
112,350 128,318
CURRENT ASSETS
Debtors 5 483,135 275,760
Cash at bank and in hand 249,280 489,894
732,415 765,654
Creditors: Amounts Falling Due Within One Year 6 (343,593 ) (303,428 )
NET CURRENT ASSETS (LIABILITIES) 388,822 462,226
TOTAL ASSETS LESS CURRENT LIABILITIES 501,172 590,544
Creditors: Amounts Falling Due After More Than One Year 7 (34,419 ) (62,109 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,345 ) (24,380 )
NET ASSETS 445,408 504,055
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 445,308 503,955
SHAREHOLDERS' FUNDS 445,408 504,055
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Holland
Director
Mr S J Alcock
Director
24/06/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
UBIQ Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11724790 . The registered office is Unit 1 Brownhills Business Park, Canal Lane, Stoke-On-Trent, Staffordshire, ST6 4RP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment Straight line over 3 years
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts 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 the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 14)
15 14
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 21,109 137,814 1,332 8,925 169,180
Additions 18,584 - 1,058 316 19,958
As at 31 May 2024 39,693 137,814 2,390 9,241 189,138
Depreciation
As at 1 June 2023 11,670 20,853 260 8,079 40,862
Provided during the period 5,639 29,242 430 615 35,926
As at 31 May 2024 17,309 50,095 690 8,694 76,788
Net Book Value
As at 31 May 2024 22,384 87,719 1,700 547 112,350
As at 1 June 2023 9,439 116,961 1,072 846 128,318
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Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 47,637 63,518
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 213,940 272,830
Amounts recoverable on contracts 10,740 -
Other debtors 258,455 2,930
483,135 275,760
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 17,689 17,689
Trade creditors 8,664 1,149
Bank loans and overdrafts 10,000 10,000
Other creditors 26,762 5,502
Taxation and social security 280,478 269,088
343,593 303,428
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 24,419 42,109
Bank loans 10,000 20,000
34,419 62,109
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 17,689 17,689
Later than one year and not later than five years 24,419 42,109
42,108 59,798
42,108 59,798
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 6