IRIS Accounts Production v24.3.0.553 04399251 director 1.1.23 31.12.23 31.12.23 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043992512022-12-31043992512023-12-31043992512023-01-012023-12-31043992512021-12-31043992512022-01-012022-12-31043992512022-12-3104399251ns15:EnglandWales2023-01-012023-12-3104399251ns14:PoundSterling2023-01-012023-12-3104399251ns10:Director12023-01-012023-12-3104399251ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3104399251ns10:SmallEntities2023-01-012023-12-3104399251ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3104399251ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3104399251ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104399251ns10:FullAccounts2023-01-012023-12-3104399251ns10:RegisteredOffice2023-01-012023-12-3104399251ns5:CurrentFinancialInstruments2023-12-3104399251ns5:CurrentFinancialInstruments2022-12-3104399251ns5:ShareCapital2023-12-3104399251ns5:ShareCapital2022-12-3104399251ns5:SharePremium2023-12-3104399251ns5:SharePremium2022-12-3104399251ns5:CapitalRedemptionReserve2023-12-3104399251ns5:CapitalRedemptionReserve2022-12-3104399251ns5:RetainedEarningsAccumulatedLosses2023-12-3104399251ns5:RetainedEarningsAccumulatedLosses2022-12-3104399251ns5:CostValuation2022-12-3104399251ns5:AdditionsToInvestments2023-12-3104399251ns5:CostValuation2023-12-3104399251ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3104399251ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 04399251 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Utex Industries Uk Limited

Utex Industries Uk Limited (Registered number: 04399251)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Utex Industries Uk Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr P D Galitzine





REGISTERED OFFICE: 17 Queens Lane
Newcastle Upon Tyne
United Kingdom
NE1 1RN





REGISTERED NUMBER: 04399251 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Utex Industries Uk Limited (Registered number: 04399251)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 5 1,500,622 100,038
1,500,622 100,038

CURRENT ASSETS
Stocks 17,218 -
Debtors 6 37,511 60,897
Cash at bank 11,437 11,418
66,166 72,315
CREDITORS
Amounts falling due within one year 7 5,078,730 3,142,637
NET CURRENT LIABILITIES (5,012,564 ) (3,070,322 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,511,942

)

(2,970,284

)

CAPITAL AND RESERVES
Called up share capital 86,000 86,000
Share premium 71,960 85,960
Capital redemption reserve 14,000 14,000
Profit and loss account (3,683,902 ) (3,156,244 )
(3,511,942 ) (2,970,284 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 December 2024 and were signed by:





Mr P D Galitzine - Director


Utex Industries Uk Limited (Registered number: 04399251)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Utex Industries Uk 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Going concern
These financial statements are prepared on the going concern basis. The directors have reasonable expectation that the company will continue in operational existence for the foreseeable future.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised at the point when the risks and rewards of the goods are transferred.

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 Profit and Loss Account, 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.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Utex Industries Uk Limited (Registered number: 04399251)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023 100,038
Additions 1,400,584
At 31 December 2023 1,500,622
NET BOOK VALUE
At 31 December 2023 1,500,622
At 31 December 2022 100,038

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 37,511 60,897

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,267 2,039
Amounts owed to group undertakings 4,700,384 2,839,544
Other creditors 376,079 301,054
5,078,730 3,142,637