0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2024 - FRS102_2024 30,096 30,096 xbrli:pure xbrli:shares iso4217:GBP 04209473 2023-02-01 2024-01-31 04209473 2024-01-31 04209473 2023-01-31 04209473 2022-02-01 2023-01-31 04209473 2023-01-31 04209473 2022-01-31 04209473 core:NetGoodwill 2023-02-01 2024-01-31 04209473 core:PlantMachinery 2023-02-01 2024-01-31 04209473 bus:Director2 2023-02-01 2024-01-31 04209473 core:WithinOneYear 2024-01-31 04209473 core:WithinOneYear 2023-01-31 04209473 core:NetGoodwill 2024-01-31 04209473 core:PlantMachinery 2023-01-31 04209473 core:PlantMachinery 2024-01-31 04209473 core:ShareCapital 2024-01-31 04209473 core:ShareCapital 2023-01-31 04209473 core:RetainedEarningsAccumulatedLosses 2024-01-31 04209473 core:RetainedEarningsAccumulatedLosses 2023-01-31 04209473 core:PlantMachinery 2023-01-31 04209473 bus:Director1 2023-02-01 2024-01-31 04209473 bus:SmallEntities 2023-02-01 2024-01-31 04209473 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04209473 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04209473 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04209473 bus:FullAccounts 2023-02-01 2024-01-31 04209473 core:OfficeEquipment 2023-02-01 2024-01-31 04209473 core:OfficeEquipment 2024-01-31 04209473 core:OfficeEquipment 2023-01-31
COMPANY REGISTRATION NUMBER: 04209473
Universal Bingham Limited
Filleted Unaudited Financial Statements
For the year ended
31 January 2024
Universal Bingham Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
3,530
4,153
Current assets
Stocks
9,925
9,925
Debtors
7
3,432
3,432
--------
--------
13,357
13,357
Creditors: amounts falling due within one year
8
12,643
11,790
--------
--------
Net current assets
714
1,567
-------
-------
Total assets less current liabilities
4,244
5,720
-------
-------
Net assets
4,244
5,720
-------
-------
Universal Bingham Limited
Statement of Financial Position (continued)
31 January 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
89,000
89,000
Profit and loss account
( 84,756)
( 83,280)
--------
--------
Shareholders funds
4,244
5,720
--------
--------
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 income statement 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 .
These financial statements were approved by the board of directors and authorised for issue on 24 October 2024 , and are signed on behalf of the board by:
Mr. G. Cochran
Director
Company registration number: 04209473
Universal Bingham 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. The address of the registered office is Carlisle Chambers, Carlisle Street, Goole, East Yorkshire, DN14 5DX.
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
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The company has not formally traded since May 2014 and the shareholders are currently considering the future plans for the company. The Majority Shareholder has confirmed that they will continue to support the company going forward and therefore the going concern basis of accounting is continued to be adopted in preparing the Financial Statements. The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine, as the company has not formally traded in the year these matters have had little impact on the company's performance.
(c) Current tax
The taxation expense represents the aggregate amount of current 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.
(d) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) 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:
Plant & Machinery
-
15% reducing balance
Office Equipment
-
15% reducing balance
(g) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(h) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(i) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year, including directors, amounted to 2 (2023: 2).
5. Intangible assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
30,096
--------
Amortisation
At 1 February 2023 and 31 January 2024
30,096
--------
Carrying amount
At 31 January 2024
--------
At 31 January 2023
--------
6. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 February 2023 and 31 January 2024
23,488
6,115
29,603
--------
-------
--------
Depreciation
At 1 February 2023
19,968
5,482
25,450
Charge for the year
529
94
623
--------
-------
--------
At 31 January 2024
20,497
5,576
26,073
--------
-------
--------
Carrying amount
At 31 January 2024
2,991
539
3,530
--------
-------
--------
At 31 January 2023
3,520
633
4,153
--------
-------
--------
7. Debtors
2024
2023
£
£
Other debtors
3,432
3,432
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,216
Amounts owed to group undertakings
9,084
7,007
Accruals and deferred income
853
861
Corporation tax
200
200
Obligations under finance leases and hire purchase contracts
2,506
2,506
--------
--------
12,643
11,790
--------
--------
9. Controlling party
The ultimate parent company is Coneqtec Corporation Incorporated, a company registered in the United States of America.