Universal Unity Limited 07515218 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of wholesale and retail of catering goods Digita Accounts Production Advanced 6.30.9574.0 true true 07515218 2023-04-01 2024-03-31 07515218 2024-03-31 07515218 bus:Director2 1 2024-03-31 07515218 bus:OrdinaryShareClass1 2024-03-31 07515218 core:CurrentFinancialInstruments 2024-03-31 07515218 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07515218 core:Non-currentFinancialInstruments 2024-03-31 07515218 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 07515218 core:FurnitureFittingsToolsEquipment 2024-03-31 07515218 core:LandBuildings 2024-03-31 07515218 core:MotorVehicles 2024-03-31 07515218 core:OtherPropertyPlantEquipment 2024-03-31 07515218 bus:SmallEntities 2023-04-01 2024-03-31 07515218 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07515218 bus:FilletedAccounts 2023-04-01 2024-03-31 07515218 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07515218 bus:RegisteredOffice 2023-04-01 2024-03-31 07515218 bus:Director2 2023-04-01 2024-03-31 07515218 bus:Director2 1 2023-04-01 2024-03-31 07515218 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07515218 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07515218 core:FurnitureFittings 2023-04-01 2024-03-31 07515218 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 07515218 core:LandBuildings 2023-04-01 2024-03-31 07515218 core:MotorVehicles 2023-04-01 2024-03-31 07515218 core:OfficeEquipment 2023-04-01 2024-03-31 07515218 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 07515218 core:PlantMachinery 2023-04-01 2024-03-31 07515218 countries:England 2023-04-01 2024-03-31 07515218 2023-03-31 07515218 bus:Director2 1 2023-03-31 07515218 core:FurnitureFittingsToolsEquipment 2023-03-31 07515218 core:LandBuildings 2023-03-31 07515218 core:MotorVehicles 2023-03-31 07515218 core:OtherPropertyPlantEquipment 2023-03-31 07515218 2022-04-01 2023-03-31 07515218 2023-03-31 07515218 bus:Director2 1 2023-03-31 07515218 bus:OrdinaryShareClass1 2023-03-31 07515218 core:CurrentFinancialInstruments 2023-03-31 07515218 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07515218 core:Non-currentFinancialInstruments 2023-03-31 07515218 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 07515218 core:FurnitureFittingsToolsEquipment 2023-03-31 07515218 core:LandBuildings 2023-03-31 07515218 core:MotorVehicles 2023-03-31 07515218 core:OtherPropertyPlantEquipment 2023-03-31 07515218 bus:Director2 1 2022-04-01 2023-03-31 07515218 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07515218

Universal Unity Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Universal Unity Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

Universal Unity Limited

Company Information

Director

Mr Dipak Haribhai

Registered office

Unit 9, Colne Way Court
Colne Way
Watford
Hertfordshire
WD24 7NE

Accountants

SK Accountants
Accountants
53 Hurstdene Avenue
Staines Upon Thames
Surrey
TW18 1JG

 

Universal Unity Limited

(Registration number: 07515218)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

544,025

545,184

Current assets

 

Stocks

5

181,878

151,565

Debtors

6

93,398

47,881

Cash at bank and in hand

 

38,146

56,942

 

313,422

256,388

Creditors: Amounts falling due within one year

7

(129,130)

(45,113)

Net current assets

 

184,292

211,275

Total assets less current liabilities

 

728,317

756,459

Creditors: Amounts falling due after more than one year

7

(244,584)

(289,298)

Net assets

 

483,733

467,161

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

483,633

467,061

Shareholders' funds

 

483,733

467,161

For the financial year ending 31 March 2024 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 Profit and Loss Account.

Approved and authorised by the director on 3 December 2024
 

.........................................
Mr Dipak Haribhai
Director

 

Universal Unity Limited

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

1

General information

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

The address of its registered office is:
Unit 9, Colne Way Court
Colne Way
Watford
Hertfordshire
WD24 7NE
England

These financial statements were authorised for issue by the director on 3 December 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Universal Unity Limited

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

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 balance sheet 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.

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:

Asset class

Depreciation method and rate

Office equipment

Straight line - 25%

Furniture and fittings

Straight line - 25%

Plant and machinery

Straight line - 25%

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Universal Unity Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 5).

 

Universal Unity Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Cost or valuation

At 1 April 2023

542,986

39,556

4,289

28,753

At 31 March 2024

542,986

39,556

4,289

28,753

Depreciation

At 1 April 2023

-

38,258

4,289

27,853

Charge for the year

-

859

-

300

At 31 March 2024

-

39,117

4,289

28,153

Carrying amount

At 31 March 2024

542,986

439

-

600

At 31 March 2023

542,986

1,298

-

900

Total
£

Cost or valuation

At 1 April 2023

615,584

At 31 March 2024

615,584

Depreciation

At 1 April 2023

70,400

Charge for the year

1,159

At 31 March 2024

71,559

Carrying amount

At 31 March 2024

544,025

At 31 March 2023

545,184

Included within the net book value of land and buildings above is £542,986 (2023 - £542,986) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

181,878

151,565

 

Universal Unity Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

89,398

35,275

Prepayments

-

3,695

Other debtors

4,000

8,911

 

93,398

47,881

 

Universal Unity Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

54,430

8,378

Taxation and social security

10,541

29,348

Other creditors

64,159

7,387

129,130

45,113

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

244,584

289,298

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

244,584

289,298

10

Related party transactions

 

Universal Unity Limited

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

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr Dipak Haribhai

Non Interest loan due to/(from) director

(4,912)

103,000

(33,427)

64,662

2023

At 1 April 2022
£

Advances to director
£

At 31 March 2023
£

Mr Dipak Haribhai

Non Interest loan due to/(from) director

-

(4,912)

(4,912)

 

Universal Unity Limited

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

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

18,000

18,000