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Registration number: 12478258

UCC General Trading Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

UCC General Trading Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 10

iXBRL Detailed Profit and Loss Account

11 to 12

 

UCC General Trading Ltd

Company Information

Director

Mr Ali Eslamian

Registered office

277-279 Chisiwck High Road
London
W4 4PU

Accountants

Flintham Mackenzie Limited
Chartered Accountants
277-279 Chiswick High Road
London
W4 4PU

 

UCC General Trading Ltd

Director's Report for the Year Ended 29 February 2024

The director presents his report and the financial statements for the year ended 29 February 2024.

Director of the company

The director who held office during the year was as follows:

Mr Ali Eslamian

Ultimate Parent Company

The ultimate parent undertaking and controlling Party is Unique Chemical General Trading Company L.L.C (Dubai) which owns 100% shares in the company. UCC General Trading Ltd effectively operates as a branch of the Dubai company.
 

Principal activity

The principal activity of the company is sale of chemical products.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 18 September 2024
 

.........................................
Mr Ali Eslamian
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
UCC General Trading Ltd
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of UCC General Trading Ltd for the year ended 29 February 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of UCC General Trading Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of UCC General Trading Ltd and state those matters that we have agreed to state to the Board of Directors of UCC General Trading Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than UCC General Trading Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that UCC General Trading Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of UCC General Trading Ltd. You consider that UCC General Trading Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of UCC General Trading Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Flintham Mackenzie Limited
Chartered Accountants
277-279 Chiswick High Road
London
W4 4PU

Date:.............................

 

UCC General Trading Ltd

Profit and Loss Account for the Year Ended 29 February 2024

Note

2024
£

2023
£

Turnover

 

427,674

271,261

Cost of sales

 

(228,512)

(193,739)

Gross profit

 

199,162

77,522

Administrative expenses

 

(122,787)

(90,786)

Operating profit/(loss)

 

76,375

(13,264)

Profit/(loss) before tax

76,375

(13,264)

Tax on profit/(loss)

 

(5,450)

-

Profit/(loss) for the financial year

 

70,925

(13,264)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

UCC General Trading Ltd

Statement of Comprehensive Income for the Year Ended 29 February 2024

2024
£

2023
£

Profit/(loss) for the year

70,925

(13,264)

Total comprehensive income for the year

70,925

(13,264)

 

UCC General Trading Ltd

(Registration number: 12478258)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

39,600

-

Debtors

5

6,101

497

Cash at bank and in hand

 

80,824

35,403

 

126,525

35,900

Creditors: Amounts falling due within one year

6

(103,189)

(83,489)

Net assets/(liabilities)

 

23,336

(47,589)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

23,236

(47,689)

Shareholders' funds/(deficit)

 

23,336

(47,589)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 18 September 2024
 

.........................................
Mr Ali Eslamian
Director

 

UCC General Trading Ltd

Statement of Changes in Equity for the Year Ended 29 February 2024

Share capital
£

Retained earnings
£

Total
£

At 1 March 2023

100

(47,689)

(47,589)

Profit for the year

-

70,925

70,925

At 29 February 2024

100

23,236

23,336

Share capital
£

Retained earnings
£

Total
£

At 1 March 2022

100

(34,425)

(34,325)

Loss for the year

-

(13,264)

(13,264)

At 28 February 2023

100

(47,689)

(47,589)

 

UCC General Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
277-279 Chisiwck High Road
London
W4 4PU

These financial statements were authorised for issue by the director 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.

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.

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.

Tax

The tax expense for the period comprises current 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.

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.

 

UCC General Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

UCC General Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Stocks

2024
£

2023
£

Other inventories

39,600

-

5

Debtors

Current

2024
£

2023
£

Other debtors

6,101

497

 

6,101

497

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

2,094

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

72,000

50,000

Taxation and social security

 

8,584

2,911

Accruals and deferred income

 

1,300

400

Other creditors

 

21,305

28,084

 

103,189

83,489

7

Related party transactions

The ultimate parent undertaking and controlling Party is Unique Chemical General Trading Company L.L.C (Dubai) which owns 100% shares in the company. The company borrowed £72,000 from its parent undertaking during the year which is interest free and repayable on demand

 

UCC General Trading Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 29 February 2024

2024
£

2023
£

Turnover/revenue

427,674

271,261

Cost of sales

Purchase of raw materials and consumables

(268,112)

(193,739)

Closing finished goods

39,600

-

Gross profit

199,162

77,522

Distribution costs

Administrative expenses

Audit and accountancy other services

(2,585)

(3,670)

Wages and salaries excluding directors

(30,351)

(27,660)

Pension costs defined contribution schemes excluding directors

(1,321)

(1,035)

Staff costs excluding directors

(31,672)

(28,695)

Salaries and fees, directors

(75,000)

(49,000)

Social security costs, directors

(7,073)

(2,836)

Staff costs, directors

(82,073)

(51,836)

Travel and subsistence

(2,750)

(3,209)

Legal and professional costs

(2,250)

(2,083)

Bank charges

(145)

(102)

Insurance costs

(733)

(204)

IT and computing

-

(262)

Telecommunications

(420)

(420)

Printing, postage and stationery

(8)

(7)

Subscriptions

(151)

-

Other costs

-

(298)

Other operating income

Other items

Profit/(loss) on ordinary activities before taxation

76,375

(13,264)

Tax on profit or loss on ordinary activities

(5,450)

-

Profit/(loss) for the financial year

70,925

(13,264)

 

UCC General Trading Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 29 February 2024

2024
£

2023
£

Turnover/revenue

427,674

271,261

Change in stocks of inventories, finished goods and work in progress

39,600

-

Wages and salaries excluding directors

(30,351)

(27,660)

Pension costs defined contribution schemes excluding directors

(1,321)

(1,035)

Staff costs excluding directors

(31,672)

(28,695)

Salaries and fees, directors

(75,000)

(49,000)

Social security costs, directors

(7,073)

(2,836)

Staff costs, directors

(82,073)

(51,836)

Travel and subsistence

(2,750)

(3,209)

Audit and accountancy costs

(2,585)

(3,670)

Insurance costs

(733)

(204)

IT and computing

-

(262)

Telecommunications costs

(420)

(420)

Printing, postage and stationery costs

(8)

(7)

Subscriptions

(151)

-

Other operational and administration costs

(270,507)

(196,222)

Other operating charges

(277,154)

(203,994)

Profit/(loss) on ordinary activities before taxation

76,375

(13,264)

Tax on profit or loss on ordinary activities

(5,450)

-

Profit/(loss) for the financial year

70,925

(13,264)