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Company Registration No. NI051028 (Northern Ireland)
Universal Finance (Omagh) Limited Companies House accounts for the year ended 31 July 2024
Universal Finance (Omagh) Limited Companies House accounts Contents
Page
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Universal Finance (Omagh) Limited Company Information for the year ended 31 July 2024
Directors
Mr Darrell Monteith Mrs Shirley Monteith
Secretary
Darrell Monteith
Company Number
NI051028 (Northern Ireland)
Registered Office
80 Seskinore Road Omagh Tyrone BT78 1RW N Ireland
Accountants
Allan Montgomery & Co 100 Main Street Fivemiletown Co Tyrone BT75 0PW
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Universal Finance (Omagh) Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,960 
24,543 
Current assets
Debtors
13,588 
13,560 
Investments
21,710 
21,597 
Cash at bank and in hand
32,354 
8,158 
67,652 
43,315 
Creditors: amounts falling due within one year
(2,900)
(2,300)
Net current assets
64,752 
41,015 
Total assets less current liabilities
86,712 
65,558 
Provisions for liabilities
Deferred tax
(4,172)
(4,663)
Net assets
82,540 
60,895 
Capital and reserves
Called up share capital
6 
6 
Profit and loss account
82,534 
60,889 
Shareholders' funds
82,540 
60,895 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by
Mr Darrell Monteith Director Company Registration No. NI051028
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Universal Finance (Omagh) Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Universal Finance (Omagh) Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI051028. The registered office is 80 Seskinore Road, Omagh, Tyrone, BT78 1RW, N Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover and income recognition
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers. Income is recognised when goods and services have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Universal Finance (Omagh) Limited Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 August 2023
68,845 
Additions
2,906 
At 31 July 2024
71,751 
Depreciation
At 1 August 2023
44,302 
Charge for the year
5,489 
At 31 July 2024
49,791 
Net book value
At 31 July 2024
21,960 
At 31 July 2023
24,543 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
10,000 
10,000 
Accrued income and prepayments
3,584 
3,556 
Other debtors
4 
4 
13,588 
13,560 
6
Investments held as current assets
2024 
2023 
£ 
£ 
Unlisted investments
21,710 
21,597 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Other creditors
2,900 
2,300 
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
4,172 
4,663 
2024 
2023 
£ 
£ 
Provision at start of year
4,663 
6,068 
Credited to the profit and loss account
(491)
(1,405)
Provision at end of year
4,172 
4,663 
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Universal Finance (Omagh) Limited Notes to the Accounts for the year ended 31 July 2024
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
6 Ordinary shares of £1 each
6 
6 
10
Controlling party
During the year the company was controlled by two directors who held 100% of the share capital.
11
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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