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REGISTERED NUMBER: 10181872 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

UKBC Limited

UKBC Limited (Registered number: 10181872)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


UKBC Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: Mr J R Field





REGISTERED OFFICE: Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW





REGISTERED NUMBER: 10181872 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

UKBC Limited (Registered number: 10181872)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 146,961 167,955
Tangible assets 6 64,240 75,664
211,201 243,619

CURRENT ASSETS
Stocks 8,479 7,864
Debtors 7 105,720 97,590
Cash at bank and in hand 1,219 3,545
115,418 108,999
CREDITORS
Amounts falling due within one year 8 660,560 560,684
NET CURRENT LIABILITIES (545,142 ) (451,685 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(333,941

)

(208,066

)

CREDITORS
Amounts falling due after more than one
year

9

23,370

26,162
NET LIABILITIES (357,311 ) (234,228 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings (357,411 ) (234,328 )
SHAREHOLDERS' FUNDS (357,311 ) (234,228 )

UKBC Limited (Registered number: 10181872)

Balance Sheet - continued
31 October 2023


The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 September 2024 and were signed by:





Mr J R Field - Director


UKBC Limited (Registered number: 10181872)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

UKBC 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.

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in compliance with FRS 102, 'The Financial Standard Applicable in the UK and the Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The COVID-19 pandemic had a significant impact on our business, restricting income and increasing costs over 14 months. Despite these challenges, we took steps to ensure our survival, including selling discounted vouchers to maintain cash flow.

In 2022, we initiated strategic shifts to improve financial health, such as investing in direct marketing and adjusting prices and agency commissions. These changes began showing positive results in 2023.

We also introduced new products aimed at the corporate market in 2022, which grew significantly in 2023. We expect further growth in 2024, leveraging our platforms to increase profitability. The market's positive response to these products has led to our highest-ever forecasted contracted income, enhancing our revenue streams and resilience.

Financial performance has improved, with sales increasing by £250,000 and gross profit rising by £170,000. Our gross profit percentage for 2023 is 37.6%, up from 28.9% in 2022.

Looking ahead, we expect to return to profitability in 2024. Based on our financial forecasts and proactive measures, we have a reasonable expectation that the company has sufficient financial resources to continue as a going concern. Therefore, the financial statements for the 2023 accounts are prepared on this basis.

Significant judgements and estimates
The principal accounting policies and significant judgements and estimates applied in the preparation of these financial statements are set out below. These policies, judgements and estimates have been
consistently applied to all years presented unless otherwise stated.

Turnover
Turnover represents amounts earned on goods and services provided during the year and derives from the provision of goods and services falling within the company's ordinary activities.

Turnover is recognised on the day of the event the service relates to, or the day of the sale of the additional event merchandise.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is amortised over a period of 10 years.

UKBC Limited (Registered number: 10181872)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost and Straight line over 5 years
Fixtures and fittings - straight line over 3 years
Motor vehicles - Straight line over 5 years
Computer equipment - 33% on cost

All fixed assets are initially recorded at cost.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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
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.

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.

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 14 ) .

UKBC Limited (Registered number: 10181872)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 209,943
AMORTISATION
At 1 November 2022 41,988
Amortisation for year 20,994
At 31 October 2023 62,982
NET BOOK VALUE
At 31 October 2023 146,961
At 31 October 2022 167,955

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 66,822 698 12,100 34,671 114,291
Additions 8,987 - - 1,008 9,995
At 31 October 2023 75,809 698 12,100 35,679 124,286
DEPRECIATION
At 1 November 2022 19,639 698 7,290 11,000 38,627
Charge for year 11,579 - 1,610 8,230 21,419
At 31 October 2023 31,218 698 8,900 19,230 60,046
NET BOOK VALUE
At 31 October 2023 44,591 - 3,200 16,449 64,240
At 31 October 2022 47,183 - 4,810 23,671 75,664

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 37,114 37,797
Other debtors 68,606 59,143
105,720 96,940

Amounts falling due after more than one year:
Other debtors - 650

Aggregate amounts 105,720 97,590

UKBC Limited (Registered number: 10181872)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,316 32,302
Hire purchase contracts (see note 10) 289 694
Trade creditors 246,099 302,427
Taxation and social security 57,568 63,821
Other creditors 324,288 161,440
660,560 560,684

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 23,370 25,873
Hire purchase contracts (see note 10) - 289
23,370 26,162

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 289 694
Between one and five years - 289
289 983

The company had non cancellable operating leases for land and buildings. The commitment at the year end was £76,192 (2022: £104,764), of which £28,572 (2022: £28,572) is within 12 months and £47,620 (2022: £76,192) is within 1 to 5 years.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100