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REGISTERED NUMBER: 08457428 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 March 2024

for

UTV Products Ltd

UTV Products Ltd (Registered number: 08457428)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


UTV Products Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr B R Bonell
Mrs S H Bonell





REGISTERED OFFICE: 316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE





REGISTERED NUMBER: 08457428 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

UTV Products Ltd (Registered number: 08457428)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 28 982
Tangible assets 5 85,942 87,901
Investments 6 476 476
86,446 89,359

CURRENT ASSETS
Stocks 144,709 105,845
Debtors 7 87,392 114,695
Cash at bank 128,032 166,317
360,133 386,857
CREDITORS
Amounts falling due within one year 8 266,809 240,307
NET CURRENT ASSETS 93,324 146,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

179,770

235,909

CREDITORS
Amounts falling due after more than one
year

9

(51,521

)

(77,172

)

PROVISIONS FOR LIABILITIES (18,409 ) (16,701 )
NET ASSETS 109,840 142,036

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 109,739 141,935
SHAREHOLDERS' FUNDS 109,840 142,036

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 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.

UTV Products Ltd (Registered number: 08457428)

Statement of Financial Position - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mr B R Bonell - Director


UTV Products Ltd (Registered number: 08457428)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

UTV Products Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

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 - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

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 statement of financial position date.


UTV Products Ltd (Registered number: 08457428)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 April 2023
and 31 March 2024 16,019
AMORTISATION
At 1 April 2023 15,037
Amortisation for year 954
At 31 March 2024 15,991
NET BOOK VALUE
At 31 March 2024 28
At 31 March 2023 982

UTV Products Ltd (Registered number: 08457428)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 49,811 540 62,235 11,559 124,145
Additions 16,800 1,632 - 11,281 29,713
At 31 March 2024 66,611 2,172 62,235 22,840 153,858
DEPRECIATION
At 1 April 2023 15,934 108 12,447 7,755 36,244
Charge for year 12,855 434 12,447 5,936 31,672
At 31 March 2024 28,789 542 24,894 13,691 67,916
NET BOOK VALUE
At 31 March 2024 37,822 1,630 37,341 9,149 85,942
At 31 March 2023 33,877 432 49,788 3,804 87,901

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 37,500 62,235 99,735
DEPRECIATION
At 1 April 2023 7,500 12,447 19,947
Charge for year 7,500 12,447 19,947
At 31 March 2024 15,000 24,894 39,894
NET BOOK VALUE
At 31 March 2024 22,500 37,341 59,841
At 31 March 2023 30,000 49,788 79,788

UTV Products Ltd (Registered number: 08457428)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 476
NET BOOK VALUE
At 31 March 2024 476
At 31 March 2023 476

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 70,323 101,223
Other debtors 17,069 13,472
87,392 114,695

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 15,651 26,725
Trade creditors 64,471 51,284
Taxation and social security 37,684 36,000
Other creditors 139,003 116,298
266,809 240,307

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 15,833 25,833
Hire purchase contracts 35,688 51,339
51,521 77,172

UTV Products Ltd (Registered number: 08457428)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 25,833 35,833
Hire purchase contracts 51,339 78,064
77,172 113,897

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from Barclays Bank UK PLC.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.