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COMPANY REGISTRATION NUMBER: 13841642
Unicorn International Limited
Filleted Unaudited Financial Statements
31 January 2024
Unicorn International Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
206,969
251,679
Current assets
Debtors
6
275,185
50,072
Cash at bank and in hand
53,682
95,380
---------
---------
328,867
145,452
Creditors: amounts falling due within one year
7
212,114
175,442
---------
---------
Net current assets/(liabilities)
116,753
( 29,990)
---------
---------
Total assets less current liabilities
323,722
221,689
Creditors: amounts falling due after more than one year
8
46,894
95,504
Provisions
47,819
47,819
---------
---------
Net assets
229,009
78,366
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
228,909
78,266
---------
--------
Shareholders funds
229,009
78,366
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Unicorn International Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 18 October 2024 , and are signed on behalf of the board by:
Mr R Kumar
Director
Company registration number: 13841642
Unicorn International Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 32 Egerton Road, Twickenham, Middlesex, TW2 7SP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Equipment
-
20% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 61 (2023: 72 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 February 2023
307,180
1,499
308,679
Additions
7,032
7,032
---------
-------
---------
At 31 January 2024
307,180
8,531
315,711
---------
-------
---------
Depreciation
At 1 February 2023
56,723
277
57,000
Charge for the year
50,091
1,651
51,742
---------
-------
---------
At 31 January 2024
106,814
1,928
108,742
---------
-------
---------
Carrying amount
At 31 January 2024
200,366
6,603
206,969
---------
-------
---------
At 31 January 2023
250,457
1,222
251,679
---------
-------
---------
6. Debtors
2024
2023
£
£
Other debtors
275,185
50,072
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
25,388
25,388
Trade creditors
39,145
28,668
Corporation tax
19,959
Social security and other taxes
103,628
99,617
Other creditors
23,994
21,769
---------
---------
212,114
175,442
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
46,894
65,742
Other creditors
29,762
--------
--------
46,894
95,504
--------
--------
9. Secured debt:
Included within other creditors are liabilities of £72,282 (2023: £91,129), which have been secured on the assets of the company.
10. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr R Kumar
( 29,762)
6,768
( 22,994)
--------
-------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr R Kumar
( 29,762)
( 29,762)
----
--------
--------
11. Related party transactions
The company was under the control of the director. At the balance sheet date, other debtors include an interest free loan of £197,500 (2023: Nil) to Dark Horse Real Estate LTD and £15,000 (2023: £15,000) to Pound Max Limited in these companies Mr R Kumar is the director and 100% shareholder.