REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023 |
FOR |
UX-PM LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023 |
FOR |
UX-PM LIMITED |
UX-PM LIMITED (REGISTERED NUMBER: 14518824) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
UX-PM LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Fourth & Fifth Floors |
14-15 Lower Grosvenor Place |
London |
SW1W 0EX |
UX-PM LIMITED (REGISTERED NUMBER: 14518824) |
BALANCE SHEET |
31 DECEMBER 2023 |
Notes | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
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 surplus or deficit 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by Thomas de Lacharriere the Board of Directors and authorised for issue on |
UX-PM LIMITED (REGISTERED NUMBER: 14518824) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Ux-Pm Limited is a |
The Company has determined that GBP is its functional currency, as this is the currency of the economic environment in which the Company predominantly operates. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
GOING CONCERN |
The company has reported a surplus for the year of £59,644 and has net reserves amounting to £59,644. In addition, the company also has reasonable cash balances at the balance sheet date. |
At the time of approving the financial statements, the directors are confident in the resilience of the |
business and its financial security, supported by a robust cash position, and believe that the company is well placed to manage its business risks successfully and has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
Related party exemption |
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. |
Critical accounting judgements and key sources of estimation uncertainty |
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. |
Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates. |
Due to the simplicity of the Company's transaction streams and year-end financial position, the directors consider there to be no critical judgements, estimates or assumptions in the preparation of these financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
UX-PM LIMITED (REGISTERED NUMBER: 14518824) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
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 in the countries where the company operates and generates income. |
Factors affecting tax charge for the year |
There was no UK corporation tax charge on the surplus for the year or the prior year |
Factors that may affect future tax charges |
The company is considered for tax purposes as a "mutual trader" such that it is not subject to corporation tax on the basis that its costs are met by its members each year. Accordingly, no taxation (other than on interest income) or deferred taxation is accounted for. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Creditors |
Short term creditors are measured at the transaction price. |
Foreign currencies |
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 rate of exchange ruling at the date of transaction. |
Exchange gains and losses are recognised in profit and loss account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
UX-PM LIMITED (REGISTERED NUMBER: 14518824) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Other creditors |
6. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party are the corporate and the country of incorporation |