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REGISTERED NUMBER: 06466026 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Universal Leader Limited

Universal Leader Limited (Registered number: 06466026)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Universal Leader Limited

Company Information
for the year ended 31 January 2024







DIRECTORS: R M Thrower
Mrs J Thrower





SECRETARY: Mrs J Thrower





REGISTERED OFFICE: 28 Underwood Road
Haslemere
Surrey
GU27 1JQ





REGISTERED NUMBER: 06466026 (England and Wales)






Universal Leader Limited (Registered number: 06466026)

Statement of Financial Position
31 January 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 10,000 15,000
Tangible assets 6 1,069 1,484
Investments 7 1 1
11,070 16,485

CURRENT ASSETS
Debtors 8 51,337 59,902
Cash at bank 5,192 410
56,529 60,312
CREDITORS
Amounts falling due within one year 9 (64,918 ) (76,315 )
NET CURRENT LIABILITIES (8,389 ) (16,003 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,681

482

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,581 382
SHAREHOLDERS' FUNDS 2,681 482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Universal Leader Limited (Registered number: 06466026)

Statement of Financial Position - continued
31 January 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





R M Thrower - Director


Universal Leader Limited (Registered number: 06466026)

Notes to the Financial Statements
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Universal Leader Limited ('The Company') is primarily engaged in consultancy to the rail industry.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business and of the registered office is 28 Underwood Road, Haslemere, Surrey, GU27 1JQ. The registered number can be found on the Company Information page.

The functional and presentational currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

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

Summary of significant accounting
The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern
No material uncertainties, that may cast doubt about the ability of the company to continue as a going concern have been identified by the directors and they therefore consider it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when services have been rendered to customers such that risks and rewards of ownership have transferred to them.

Goodwill and intellectual property
Intellectual property, being the amount paid in 2022 for customer related systems has been amortised over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Universal Leader Limited (Registered number: 06466026)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the discounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of comprehensive income and retained earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 year end.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the year end.

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.

Impairment of assets
Assets not measured at fair value are reviewed for any indications that the asset maybe impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Universal Leader Limited (Registered number: 06466026)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 45,000
AMORTISATION
At 1 February 2023 30,000
Amortisation for year 5,000
At 31 January 2024 35,000
NET BOOK VALUE
At 31 January 2024 10,000
At 31 January 2023 15,000

6. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 2,159 2,532 4,691
DEPRECIATION
At 1 February 2023 851 2,356 3,207
Charge for year 327 88 415
At 31 January 2024 1,178 2,444 3,622
NET BOOK VALUE
At 31 January 2024 981 88 1,069
At 31 January 2023 1,308 176 1,484

7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023
and 31 January 2024 1
NET BOOK VALUE
At 31 January 2024 1
At 31 January 2023 1

Universal Leader Limited (Registered number: 06466026)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 27,420
Other debtors 51,337 32,482
51,337 59,902

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 475 28,966
Taxation and social security 57,655 42,988
Other creditors 6,788 4,361
64,918 76,315

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
R M Thrower and Mrs J Thrower
Balance outstanding at start of year 24,008 -
Amounts advanced 134,544 80,783
Amounts repaid (107,314 ) (56,775 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 51,238 24,008

During the year loan interest totalling £1,878, (2023: £720) has been charged to the director at the official rates applicable to beneficial loans.