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REGISTERED NUMBER: 07592090 (England and Wales)















U ENERGY (YORKSHIRE) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






U ENERGY (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07592090)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


U ENERGY (YORKSHIRE) LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: Mr F S Gohir





REGISTERED OFFICE: Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS





REGISTERED NUMBER: 07592090 (England and Wales)





ACCOUNTANTS: SMH Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

U ENERGY (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07592090)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 440,858 367,912
Investments 5 10,347 10,357
451,205 378,269

CURRENT ASSETS
Stocks 240,724 363,840
Debtors 6 769,945 893,016
Cash at bank and in hand 928,589 1,273,824
1,939,258 2,530,680
CREDITORS
Amounts falling due within one year 7 (1,050,126 ) (1,631,582 )
NET CURRENT ASSETS 889,132 899,098
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,340,337

1,277,367

CREDITORS
Amounts falling due after more than one year 8 (230,436 ) (333,175 )

PROVISIONS FOR LIABILITIES 11 (60,018 ) (30,870 )
NET ASSETS 1,049,883 913,322

U ENERGY (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07592090)

BALANCE SHEET - continued
31 March 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 349,970 349,970
Retained earnings 699,813 563,252
SHAREHOLDERS' FUNDS 1,049,883 913,322

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

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

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2024 and were signed by:





Mr F S Gohir - Director


U ENERGY (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07592090)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

U Energy (Yorkshire) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about U Energy (Yorkshire) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is recognised on the supply of goods to the customer, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

U ENERGY (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07592090)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including other creditors and accruals, are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

U ENERGY (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07592090)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 70,126 16,239 47,451
Additions 7,680 - -
Disposals - - -
At 31 March 2024 77,806 16,239 47,451
DEPRECIATION
At 1 April 2023 - 12,185 43,397
Charge for year - 1,036 1,786
Eliminated on disposal - - -
At 31 March 2024 - 13,221 45,183
NET BOOK VALUE
At 31 March 2024 77,806 3,018 2,268
At 31 March 2023 70,126 4,054 4,054

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 334,340 21,592 489,748
Additions 134,000 8,362 150,042
Disposals (55,817 ) - (55,817 )
At 31 March 2024 412,523 29,954 583,973
DEPRECIATION
At 1 April 2023 52,633 13,621 121,836
Charge for year 38,499 2,894 44,215
Eliminated on disposal (22,936 ) - (22,936 )
At 31 March 2024 68,196 16,515 143,115
NET BOOK VALUE
At 31 March 2024 344,327 13,439 440,858
At 31 March 2023 281,707 7,971 367,912

U ENERGY (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07592090)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 55,817
Disposals (55,817 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 22,936
Eliminated on disposal (22,936 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 32,881

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 April 2023 267 10,090 10,357
Exchange differences (10 ) - (10 )
At 31 March 2024 257 10,090 10,347
NET BOOK VALUE
At 31 March 2024 257 10,090 10,347
At 31 March 2023 267 10,090 10,357

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,100 120,664
Amounts owed by group undertakings 702,656 697,156
Amounts owed by associates 13,225 13,225
Other debtors 37,964 61,971
769,945 893,016

U ENERGY (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07592090)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) - 3,661
Trade creditors 272,982 695,578
Taxation and social security 149,350 277,572
Other creditors 617,794 644,771
1,050,126 1,631,582

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 11,667 21,667
Other creditors 218,769 311,508
230,436 333,175

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans 218,769 311,508

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year - 3,661

Non-cancellable operating leases
2024 2023
£    £   
Within one year 4,736 -
Between one and five years 10,261 -
14,997 -

U ENERGY (YORKSHIRE) LIMITED (REGISTERED NUMBER: 07592090)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 21,667 31,667
Hire purchase contracts - 3,661
21,667 35,328

Hire purchase liabilities are secured against the asset to which they relate.

Bank loans are secured by way of government initiatives.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 60,018 30,870

Deferred
tax
£   
Balance at 1 April 2023 30,870
Provided during year 29,148
Balance at 31 March 2024 60,018

12. RELATED PARTY DISCLOSURES

Loans owing to the directors on an interest free basis of £305 (2023: £6,234) were outstanding at the year end. The amounts are repayable on demand.

Loans owing from U Power Ltd of £263,206 (2023 - £217,706) were outstanding at the year end, a company whose majority shareholder is U Energy Group Limited. U Energy Group Limited is also the majority shareholder of U Energy (Yorkshire) Ltd. The amounts are repayable on demand.

Loans owing from U Energy Group Ltd of £439,450 (2023 - £479,450) were outstanding at the year end, a company which is the majority shareholder of U Energy (Yorkshire) Ltd. The amounts are repayable on demand.