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Registered number: 02714552
United Automation Limited
Financial Statements
For The Year Ended 31 December 2023
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02714552
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,393 6,822
Investments 5 2 2
5,395 6,824
CURRENT ASSETS
Stocks 6 467,024 448,073
Debtors 7 694,719 691,907
Cash at bank and in hand 131,139 157,032
1,292,882 1,297,012
Creditors: Amounts Falling Due Within One Year 8 (128,336 ) (197,519 )
NET CURRENT ASSETS (LIABILITIES) 1,164,546 1,099,493
TOTAL ASSETS LESS CURRENT LIABILITIES 1,169,941 1,106,317
Creditors: Amounts Falling Due After More Than One Year 9 (14,381 ) (23,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,119 ) (2,119 )
NET ASSETS 1,153,441 1,081,198
CAPITAL AND RESERVES
Called up share capital 10 171,000 171,000
Capital redemption reserve 54,000 54,000
Profit and Loss Account 928,441 856,198
SHAREHOLDERS' FUNDS 1,153,441 1,081,198
Page 1
Page 2
For the year ending 31 December 2023 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
Ms S L Fashoni
Director
23rd September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
United Automation Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02714552 . The registered office is B M F House Southport Business Park, Wight Moss Way, Southport, Merseyside, PR8 4HQ. The financial statements are presented in the company's presentation currency of GBP.
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 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
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% reducing balance basis
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 25% reducing balance basis
Computer Equipment 25% reducing balance basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
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.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2022: 20)
19 20
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 363,399 49,991 413,390
Additions 1,665 - 1,665
Disposals (45,342 ) - (45,342 )
As at 31 December 2023 319,722 49,991 369,713
Depreciation
As at 1 January 2023 356,577 49,991 406,568
Provided during the period 1,422 - 1,422
Disposals (43,670 ) - (43,670 )
As at 31 December 2023 314,329 49,991 364,320
Net Book Value
As at 31 December 2023 5,393 - 5,393
As at 1 January 2023 6,822 - 6,822
5. Investments
Subsidiaries
£
Cost
As at 1 January 2023 329,669
As at 31 December 2023 329,669
Provision
As at 1 January 2023 329,667
As at 31 December 2023 329,667
Net Book Value
As at 31 December 2023 2
As at 1 January 2023 2
6. Stocks
2023 2022
£ £
Stock 467,024 448,073
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Page 5
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 150,646 162,378
Amounts owed by group undertakings 538,608 525,108
Other debtors 5,465 4,421
694,719 691,907
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 69,862 129,326
Bank loans and overdrafts 8,975 10,321
Other creditors 5,300 15,342
Taxation and social security 44,199 42,530
128,336 197,519
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,381 23,000
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 171,000 171,000
Page 5