Registered number
03863319
Unividual Ltd
Report and Unaudited Accounts
31 December 2023
Unividual Ltd
Registered number: 03863319
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 23,756 126,745
Investments 5 17,584 17,584
41,340 144,329
Current assets
Debtors 6 926,312 922,515
Cash at bank and in hand 227,332 277,081
1,153,644 1,199,596
Creditors: amounts falling due within one year 7 (364,006) (344,381)
Net current assets 789,638 855,215
Total assets less current liabilities 830,978 999,544
Creditors: amounts falling due after more than one year 8 (507,046) (696,233)
Provisions for liabilities - (3,298)
Net assets 323,932 300,013
Capital and reserves
Called up share capital 224 224
Capital redemption reserve 12 12
Profit and loss account 323,696 299,777
Shareholders' funds 323,932 300,013
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J P Baxter
Director
Approved by the board on 21 September 2024
Unividual Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from fees for services and advice provided to customers, which is measured by reference to the period in which the fees are earned.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold costs over 5 years
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Investments
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
1 Accounting policies (continued)
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 22 23
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 6,333
At 31 December 2023 6,333
Amortisation
At 1 January 2023 6,333
At 31 December 2023 6,333
Net book value
At 31 December 2023 -
At 31 December 2022 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 12,752 232,913 115,975 361,640
Additions - 6,703 269 6,972
Disposals - (98,996) (116,244) (215,240)
At 31 December 2023 12,752 140,620 - 153,372
Depreciation
At 1 January 2023 9,547 196,354 28,994 234,895
Charge for the year 3,205 17,270 - 20,475
On disposals - (96,760) (28,994) (125,754)
At 31 December 2023 12,752 116,864 - 129,616
Net book value
At 31 December 2023 - 23,756 - 23,756
At 31 December 2022 3,205 36,559 86,981 126,745
5 Investments
Other
investments
£
Cost
At 1 January 2023 17,584
At 31 December 2023 17,584
6 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 827,914 829,416
Deferred tax asset 19,571 -
Other debtors 78,827 93,099
926,312 922,515
7 Creditors: amounts falling due within one year 2023 2022
£ £
Loans and overdrafts 130,425 133,145
Obligations under finance lease and hire purchase contracts - 2,146
Trade creditors 44,422 60,625
Corporation tax 78,873 75,894
Other taxes and social security costs 20,548 17,326
Other creditors 89,738 55,245
364,006 344,381
The loans include limited recourse loans from Ingenious Investments, relating to the company's investments in Big Screen Productions 20 LLP and Big Screen Productions 24 LLP.
8 Creditors: amounts falling due after one year 2023 2022
£ £
Loans 507,046 611,120
Obligations under finance lease and hire purchase contracts - 85,113
507,046 696,233
9 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 339,011 105,366
10 Contingent liabilities
On 1 July 2016, HM Revenue & Customs issued the company with partner payment notices (PPNs) in respect of the company's investments in Big Screen Productions 20 LLP and Big Screen Productions 24 LLP, made during the years ended 31 December 2011 and 2012 respectively. The PPNs required the company to pay an amount of £75,605 to HM Revenue & Customs and the amounts paid were initially recorded as a recoverable debtor in the accounts, pending resolution of the legal action concerning the trading status of the two LLPs and availability of the losses claimed in the years ended 31 December 2011 and 2012. As at the date of signing of the accounts, the legal action had not been resolved, but the potential taxation cost was recognised as an expense in the year ended 31 December 2021.
11 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr J P Baxter
Expense account (268) 7,913 (8,273) (628)
Mr L C Baxter
Expense account - 41 (41) -
Miss C-A Baxter
Expense account - 1,476 (1,733) (257)
(268) 9,430 (10,047) (885)
The expense accounts are interest free and repayable on demand. In addition to the figures above, the following payments were made to the directors under office licence agreements: Mr J P Baxter and his wife - £5,834 (2022 - £5,834), Mr L C Baxter - £3,698 (2022 - £3,698) and Miss C-A Baxter - £3,445 (2022 - £3,445).
12 Other information
Unividual Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 Ellis Barn
The Old Dairy
Badbury
Swindon
Wiltshire
SN4 0EU
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