Company registration number 04425421 (England and Wales)
UMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
UMES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
UMES LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,988
5,798
Investments
4
4
4
4,992
5,802
Current assets
Debtors
6
107,162
173,927
Creditors: amounts falling due within one year
7
(95,341)
(122,753)
Net current assets
11,821
51,174
Total assets less current liabilities
16,813
56,976
Creditors: amounts falling due after more than one year
8
(11,085)
(21,492)
Provisions for liabilities
(1,247)
(1,266)
Net assets
4,481
34,218
Capital and reserves
Called up share capital
9
2
2
Profit and loss reserves
4,479
34,216
Total equity
4,481
34,218
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
UMES LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 October 2024 and are signed on its behalf by:
Mr S R Mercer
Director
Company Registration No. 04425421
UMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information
UMES Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4, Deveron Mill, Meadow Street, Great Harwood, Lancashire, BB6 7EJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
The company finances its operation by means of bank overdraft facility. The directors are not aware of any reason why the overdraft facility will not be maintained at its current level. As a result the directors have continued to adopt the going concern basis in preparing the financial statements. true
1.3
Turnover
Turnover represents amounts receivable for service, installation and de-commissioning of plant and machinery net of VAT.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% Reducing balance
Computer equipment
20% Straight line
Motor vehicles
25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Fixed asset investments are stated at cost less provision for diminution in value.
UMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2023 - 2).
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023
65,765
Additions
372
At 31 May 2024
66,137
Depreciation and impairment
At 1 June 2023
59,966
Depreciation charged in the year
1,183
At 31 May 2024
61,149
Carrying amount
At 31 May 2024
4,988
At 31 May 2023
5,798
4
Fixed asset investments
2024
2023
£
£
Investments
4
4
UMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
4
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 June 2023 & 31 May 2024
4
Carrying amount
At 31 May 2024
4
At 31 May 2023
4
5
Subsidiaries
Details of the company's subsidiaries at 31 May 2024 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Certec Limited
Unit 4 Deveron Mill, Meadow Street, Great Harwood, Lancashire, BB6 7EJ
Dormant
Ordinary
100
0
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
23,815
34,222
Corporation tax recoverable
10,631
10,631
Other debtors
71,709
128,556
Prepayments and accrued income
1,007
518
107,162
173,927
Other debtors comprise director's current account of £71,683 (2023 - £125,394), Employer's National Insurance repayable of £26 (2023 - £1,025) and VAT of £Nil (2023 - £2,137).
UMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
23,783
33,499
Trade creditors
23,098
35,831
Taxation and social security
38,062
45,836
Other creditors
10,398
7,587
95,341
122,753
The bank loans and overdrafts are secured on premises owned personally by one of the directors, Mr S R Mercer.
Other creditors comprises accruals of £10,398 (2023 - £7,587).
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,085
21,492
The bank loans and overdrafts are secured on premises owned personally by one of the directors, Mr S R Mercer.
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary class A share of £1 each
1
1
1
1
Ordinary class B share of £1 each
1
1
1
1
2
2
2
2