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REGISTERED NUMBER: 04278501 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

UNIVERSAL SMART CARDS LIMITED

UNIVERSAL SMART CARDS LIMITED (REGISTERED NUMBER: 04278501)

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


UNIVERSAL SMART CARDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: C P Allen
M W Smith





SECRETARY: C P Allen





REGISTERED OFFICE: Unit 9
Devonshire Business Park
4 Chester Road
Borehamwood
Hertfordshire
WD6 1NA





REGISTERED NUMBER: 04278501 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

UNIVERSAL SMART CARDS LIMITED (REGISTERED NUMBER: 04278501)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,205 31,377
Investments 5 568 635
33,773 32,012

CURRENT ASSETS
Stocks 1,151,923 1,575,684
Debtors 6 1,886,228 2,065,582
Cash at bank and in hand 990,221 966,109
4,028,372 4,607,375
CREDITORS
Amounts falling due within one year 7 2,039,281 2,945,063
NET CURRENT ASSETS 1,989,091 1,662,312
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,022,864

1,694,324

CREDITORS
Amounts falling due after more than one
year

8

(267,026

)

(56,519

)

PROVISIONS FOR LIABILITIES (10,173 ) (7,839 )
NET ASSETS 1,745,665 1,629,966

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,745,565 1,629,866
SHAREHOLDERS' FUNDS 1,745,665 1,629,966

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 directors acknowledge their 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.

UNIVERSAL SMART CARDS LIMITED (REGISTERED NUMBER: 04278501)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





C P Allen - Director


UNIVERSAL SMART CARDS LIMITED (REGISTERED NUMBER: 04278501)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Universal Smart Cards 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. 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.

Preparation of consolidated financial statements
The financial statements contain information about Universal Smart Cards Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the sale of smart cards and related services, excluding Value Added Tax.

Turnover is recognised in the period the goods are sold and services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33.33% on cost, 20% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is defined as the actual cost of goods to be sold.

Net realisable value is defined as the expected selling price less estimated selling costs.

Taxation
Taxation for the year 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 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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

UNIVERSAL SMART CARDS LIMITED (REGISTERED NUMBER: 04278501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments in subsidiary undertakings and participating interests are recognised at cost.

Other fixed asset investments are initially recognised at cost and subsequently stated at cost less any accumulated impairment losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 353,457
Additions 13,357
At 31 December 2023 366,814
DEPRECIATION
At 1 January 2023 322,080
Charge for year 11,529
At 31 December 2023 333,609
NET BOOK VALUE
At 31 December 2023 33,205
At 31 December 2022 31,377

UNIVERSAL SMART CARDS LIMITED (REGISTERED NUMBER: 04278501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 11,000
DEPRECIATION
At 1 January 2023 8,800
Charge for year 2,200
At 31 December 2023 11,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 2,200

5. FIXED ASSET INVESTMENTS
Interest
Shares in in other
group participating
undertakings interests Totals
£    £    £   
COST
At 1 January 2023 135 500 635
Disposals (67 ) - (67 )
At 31 December 2023 68 500 568
NET BOOK VALUE
At 31 December 2023 68 500 568
At 31 December 2022 135 500 635

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,482,536 1,755,861
Amounts owed by group undertakings 216,296 216,296
Other debtors 187,396 93,425
1,886,228 2,065,582

UNIVERSAL SMART CARDS LIMITED (REGISTERED NUMBER: 04278501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 200,002
Hire purchase contracts (see note 9) - 1,001
Trade creditors 398,999 1,239,664
Taxation and social security 291,279 299,583
Other creditors 1,349,003 1,204,813
2,039,281 2,945,063

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 267,026 56,519

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year - 1,001

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 64,909 89,016
Between one and five years 38,396 49,179
103,305 138,195

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans - 200,002
Other creditors 338,862 97,912
338,862 297,914

Charges have been registered over all of the company's assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
10,000 Ordinary £0.01 100 100

UNIVERSAL SMART CARDS LIMITED (REGISTERED NUMBER: 04278501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Director
Balance outstanding at start of year (120,378 ) (115,611 )
Amounts advanced - 223,831
Amounts repaid - (228,598 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (120,378 ) (120,378 )

Director
Balance outstanding at start of year (119,803 ) (115,037 )
Amounts advanced - 202,847
Amounts repaid - (207,613 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (119,803 ) (119,803 )

The loans are interest free.