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Registration number: 09110174

UK MGMT LTD

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

UK MGMT LTD

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

UK MGMT LTD

Company Information

Directors

Mr CJF McAuley

Mrs M McAuley

Company secretary

Mr CJF McAuley

Registered office

Pylon Farm
New Years Green Lane
Harefield
Middlesex
UB9 6LX

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Bucks
SL8 5TD

 

UK MGMT LTD

(Registration number: 09110174)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,061

9,116

Investment property

5

5,358,682

4,274,269

Investments

6

350,000

-

 

5,716,743

4,283,385

Current assets

 

Debtors

7

90,206

43,099

Cash at bank and in hand

 

326,653

370,082

 

416,859

413,181

Creditors: Amounts falling due within one year

8

(4,141,808)

(3,198,985)

Net current liabilities

 

(3,724,949)

(2,785,804)

Total assets less current liabilities

 

1,991,794

1,497,581

Provisions for liabilities

(2,500)

(2,900)

Net assets

 

1,989,294

1,494,681

Capital and reserves

 

Called up share capital

24

24

Retained earnings

1,989,270

1,494,657

Shareholders' funds

 

1,989,294

1,494,681

For the financial year ending 30 June 2024 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 year 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.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

 

UK MGMT LTD

(Registration number: 09110174)
Balance Sheet as at 30 June 2024

.........................................
Mr CJF McAuley
Director

 

UK MGMT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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:
Pylon Farm
New Years Green Lane
Harefield
Middlesex
UB9 6LX
United Kingdom

These financial statements were authorised for issue by the Board on 18 September 2024.

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.

Group accounts not prepared

The company is a parent company of a small group and the company has taken advantage of the exemption provided by Section 399(2B) of the Companies Act 2006 not to prepare group accounts.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

UK MGMT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Furniture, fittings and equipment

15% reducing balance or 25% straight line

Motor vehicles

25% reducing balance

Investment property

Investment property is carried at fair value determined annually by the directors. Change in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

UK MGMT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

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.

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 year, was 2 (2023 - 2).

 

UK MGMT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2023

6,801

17,000

10,447

34,248

Additions

2,497

-

487

2,984

Disposals

(2,320)

(17,000)

-

(19,320)

At 30 June 2024

6,978

-

10,934

17,912

Depreciation

At 1 July 2023

5,478

15,298

4,356

25,132

Charge for the year

787

177

1,147

2,111

Eliminated on disposal

(1,917)

(15,475)

-

(17,392)

At 30 June 2024

4,348

-

5,503

9,851

Carrying amount

At 30 June 2024

2,630

-

5,431

8,061

At 30 June 2023

1,323

1,702

6,091

9,116

5

Investment properties

2024
£

At 1 July

4,274,269

Additions

1,084,413

At 30 June

5,358,682

The investment properties were valued on an open market basis on the 30 June 2024 by the directors of the company. The open market value is considered to be equal to the purchase price of the properties.

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

 

UK MGMT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

350,000

-

Subsidiaries

£

Cost or valuation

Additions

350,000

Provision

Carrying amount

At 30 June 2024

350,000

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Grundon Waste Food Products Limited

England and Wales

Ordinary

100%

0%

Subsidiary undertakings

Grundon Waste Food Products Limited

The principal activity of Grundon Waste Food Products Limited is that of receiving royalties on gas generation. Its financial period end is 31 December.

 

UK MGMT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

63,490

40,112

Prepayments

-

322

Other debtors

26,716

2,665

 

90,206

43,099

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

156,229

119,787

Accruals and deferred income

12,495

22,891

Other creditors

3,973,084

3,056,307

4,141,808

3,198,985