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Union Castle Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

Registration number: 03949577

 

Union Castle Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Union Castle Limited

(Registration number: 03949577)
Statement of financial position as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

283,695

283,695

Current assets

 

Debtors

5

1,197

-

Cash at bank and in hand

 

12,182

15,407

 

13,379

15,407

Creditors: Amounts falling due within one year

6

(25,941)

(43,691)

Net current liabilities

 

(12,562)

(28,284)

Net assets

 

271,133

255,411

Capital and reserves

 

Called up share capital

600

600

Retained earnings

270,533

254,811

Shareholders' funds

 

271,133

255,411

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income statement.

Approved and authorised by the director on 28 October 2024
 

.........................................
Mr N J L Owen
Director

 

Union Castle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
63 Claygate Road
Dorking
Surrey
RH4 2PS

These financial statements were authorised for issue by the director on 28 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Union Castle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

283,695

1,000

284,695

At 31 March 2023

283,695

1,000

284,695

Depreciation

At 1 April 2022

-

1,000

1,000

At 31 March 2023

-

1,000

1,000

Carrying amount

At 31 March 2023

283,695

-

283,695

At 31 March 2022

283,695

-

283,695

Included within the net book value of land and buildings above is £283,695 (2022 - £283,695) in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Other debtors

1,197

-

 

1,197

-

 

Union Castle Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

4,478

4,128

Accruals and deferred income

1,500

1,600

Other creditors

19,963

37,963

25,941

43,691