REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2024 |
FOR |
UNITED SMART LTD |
REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2024 |
FOR |
UNITED SMART LTD |
UNITED SMART LTD (REGISTERED NUMBER: 09852284) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
UNITED SMART LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 MARCH 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
www.michaelfiliou.com |
Salisbury House |
81 High Street |
Potters Bar |
Hertfordshire |
EN6 5AS |
UNITED SMART LTD (REGISTERED NUMBER: 09852284) |
ABRIDGED BALANCE SHEET |
30 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Share premium | 8 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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. |
UNITED SMART LTD (REGISTERED NUMBER: 09852284) |
ABRIDGED BALANCE SHEET - continued |
30 MARCH 2024 |
The financial statements were approved by the director and authorised for issue on |
UNITED SMART LTD (REGISTERED NUMBER: 09852284) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 MARCH 2024 |
1. | STATUTORY INFORMATION |
United Smart Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about United Smart Ltd 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. |
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. |
Tangible fixed assets |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
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 differences are taken into account in arriving at the operating result. |
UNITED SMART LTD (REGISTERED NUMBER: 09852284) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MARCH 2024 |
3. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company only enters into basic financial instruments 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. |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 31 March 2023 |
Additions |
At 30 March 2024 |
DEPRECIATION |
At 31 March 2023 |
Charge for year |
At 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 30 March 2023 |
6. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 31 March 2023 |
and 30 March 2024 | 120,150 |
NET BOOK VALUE |
At 30 March 2024 | 120,150 |
At 30 March 2023 | 120,150 |
UNITED SMART LTD (REGISTERED NUMBER: 09852284) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MARCH 2024 |
6. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Via Tagliamento 31, Roma 00198, Italy |
Nature of business: |
% |
Class of shares: | holding |
Registered office: 18628 SW 50th Court, Miramar, Florida 33029, U.S.A. |
Nature of business: |
% |
Class of shares: | holding |
The company also has investments in the following unlisted entities: |
Name of entity |
Registered office |
Nature of business |
Class of shares |
% holding |
BUI LDA | Mozambique | Support services to energy companies | Ordinary | 11.00 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 3,100 | 3,100 |
8. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 31 March 2023 | 1,010,926 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 30 March 2024 | 1,018,027 |
On 12 December 2022, the company undertook a reduction of the share premium account by the allocation of the sum of £1,125,033 to the distributable reserves of the company by way of a special resolution. |
UNITED SMART LTD (REGISTERED NUMBER: 09852284) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 MARCH 2024 |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr Carlo Antoniazzi. |
He holds all 100% of the issued share capital of the company. |