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Registration number: 06528191

Unicorn Services Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 September 2023

 

Unicorn Services Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Abridged Financial Statements

9 to 13

 

Unicorn Services Limited

Company Information

Director

X Chen

Registered office

190 Tulse Hill
London
SW2 3BU

Accountants

Kishens Limited
Chartered Accountants
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

 

Unicorn Services Limited

Director's Report for the Year Ended 30 September 2023

The director presents his report and the abridged financial statements for the year ended 30 September 2023.

Director of the company

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

F Chen (ceased 26 January 2024)

The following director was appointed after the year end:

X Chen (appointed 26 January 2024)

Principal activity

The principal activity of the company is that of construction, development and refurbishment of land and buildings.

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 7 July 2024
 

.........................................
X Chen
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Unicorn Services Limited
for the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Unicorn Services Limited for the year ended 30 September 2023 as set out on pages 4 to 13 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 Unicorn Services Limited, as a body, in accordance with the terms of our engagement letter dated 22 November 2012. Our work has been undertaken solely to prepare for your approval the accounts of Unicorn Services Limited and state those matters that we have agreed to state to the Board of Directors of Unicorn Services Limited, 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 Unicorn Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Unicorn Services Limited 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 Unicorn Services Limited. You consider that Unicorn Services Limited 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 Unicorn Services Limited. 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.

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

Kishens Limited
Chartered Accountants
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

7 July 2024

 

Unicorn Services Limited

Abridged Profit and Loss Account for the Year Ended 30 September 2023

Note

2023
£

2022
£

Gross profit

 

347,075

500,041

Administrative expenses

 

(583,883)

(480,874)

Other interest receivable and similar income

 

11,882

10,968

Interest payable and similar expenses

 

(5,286)

(7,192)

(Loss)/profit before tax

4

(230,212)

22,943

Tax on (loss)/profit

 

342,704

2,634

Profit for the financial year

 

112,492

25,577

The above results were derived from continuing operations.

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

 

Unicorn Services Limited

Statement of Comprehensive Income for the Year Ended 30 September 2023

2023
£

2022
£

Profit for the year

112,492

25,577

Total comprehensive income for the year

112,492

25,577

 

Unicorn Services Limited

(Registration number: 06528191)
Abridged Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

5

54,615

89,688

Current assets

 

Stocks

6

545,000

235,000

Debtors

7

965,266

307,449

Cash at bank and in hand

 

48,004

165,918

 

1,558,270

708,367

Prepayments and accrued income

 

-

3,447

Creditors: Amounts falling due within one year

(1,364,785)

(665,894)

Net current assets

 

193,485

45,920

Net assets

 

248,100

135,608

Capital and reserves

 

Called up share capital

8

5,000

5,000

Retained earnings

243,100

130,608

Shareholders' funds

 

248,100

135,608

 

Unicorn Services Limited

(Registration number: 06528191)
Abridged Balance Sheet as at 30 September 2023

For the financial year ending 30 September 2023 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 7 July 2024
 

.........................................
X Chen
Director

 

Unicorn Services Limited

Statement of Changes in Equity for the Year Ended 30 September 2023

Share capital
£

Retained earnings
£

Total
£

At 1 October 2022

5,000

130,608

135,608

Profit for the year

-

112,492

112,492

At 30 September 2023

5,000

243,100

248,100

Share capital
£

Retained earnings
£

Total
£

At 1 October 2021

5,000

105,031

110,031

Profit for the year

-

25,577

25,577

At 30 September 2022

5,000

130,608

135,608

 

Unicorn Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
190 Tulse Hill
London
SW2 3BU
England

These financial statements were authorised for issue by the director on 7 July 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 abridged 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 abridged 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.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods or on completion of the designated services;
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.

 

Unicorn Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

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

Fixtures, fittings and equipment

25% reducing balance

Motor vehicles

25% reducing balance

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.

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.

 

Unicorn Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

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 22 (2022 - 19).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

30,042

29,896

 

Unicorn Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

5

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

18,818

136,395

155,213

Additions

1,327

29,150

30,477

Disposals

-

(63,125)

(63,125)

At 30 September 2023

20,145

102,420

122,565

Depreciation

At 1 October 2022

15,554

49,971

65,525

Charge for the year

1,148

28,894

30,042

Eliminated on disposal

-

(27,617)

(27,617)

At 30 September 2023

16,702

51,248

67,950

Carrying amount

At 30 September 2023

3,443

51,172

54,615

At 30 September 2022

3,264

86,424

89,688

6

Stocks

2023
£

2022
£

Work in progress

545,000

235,000

7

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share capital of £1 each

5,000

5,000

5,000

5,000

       
 

Unicorn Services Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

9

Dividends

10

Parent and ultimate parent undertaking

The ultimate controlling party is the director.