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REGISTERED NUMBER: 03292977 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st December 2024

for

United Corporation Ltd

United Corporation Ltd (Registered number: 03292977)

Contents of the Financial Statements
for the Year Ended 31st December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


United Corporation Ltd

Company Information
for the Year Ended 31st December 2024







DIRECTORS: A Fatehi
Mrs F Taheri





SECRETARY: Mrs F Taheri





REGISTERED OFFICE: 30 Stafford Road
Wallington
Surrey
SM6 9AA





REGISTERED NUMBER: 03292977 (England and Wales)






United Corporation Ltd (Registered number: 03292977)

Balance Sheet
31st December 2024

31/12/24 31/12/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 699,487 694,926

CURRENT ASSETS
Debtors 5 769,298 1,000,342
Cash at bank and in hand 7,816 10,484
777,114 1,010,826
CREDITORS
Amounts falling due within one year 6 1,149,961 1,263,068
NET CURRENT LIABILITIES (372,847 ) (252,242 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,640

442,684

PROVISIONS FOR LIABILITIES 2,931 2,931
NET ASSETS 323,709 439,753

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 7 279,233 279,233
Retained earnings 44,376 160,420
323,709 439,753

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

United Corporation Ltd (Registered number: 03292977)

Balance Sheet - continued
31st December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th March 2025 and were signed on its behalf by:





Mrs F Taheri - Director


United Corporation Ltd (Registered number: 03292977)

Notes to the Financial Statements
for the Year Ended 31st December 2024


1. STATUTORY INFORMATION

United Corporation 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

United Corporation Ltd (Registered number: 03292977)

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


2. ACCOUNTING POLICIES - continued

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.

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 21 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1st January 2024 680,000 98,093 36,789 106,346 921,228
Additions - - - 8,838 8,838
At 31st December 2024 680,000 98,093 36,789 115,184 930,066
DEPRECIATION
At 1st January 2024 - 96,227 33,586 96,489 226,302
Charge for year - 466 1,135 2,676 4,277
At 31st December 2024 - 96,693 34,721 99,165 230,579
NET BOOK VALUE
At 31st December 2024 680,000 1,400 2,068 16,019 699,487
At 31st December 2023 680,000 1,866 3,203 9,857 694,926

United Corporation Ltd (Registered number: 03292977)

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


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st December 2024 is represented by:

Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
Valuation in 2019 73,200 - - - 73,200
Valuation in 2022 193,800 - - - 193,800
Cost 413,000 98,093 36,789 115,184 663,066
680,000 98,093 36,789 115,184 930,066

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 620,774 824,143
Other debtors 148,524 176,199
769,298 1,000,342

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Bank loans and overdrafts 620,873 626,066
Trade creditors 396,504 536,883
Taxation and social security 8,249 12,075
Other creditors 124,335 88,044
1,149,961 1,263,068

7. RESERVES
Revaluation
reserve
£   
At 1st January 2024
and 31st December 2024 279,233

8. ULTIMATE CONTROLLING PARTY

Mr A Fatehi and Mrs F Taheri, the directors, control the company by virtue of owing 100% of the issued ordinary share capital.

United Corporation Ltd (Registered number: 03292977)

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


9. DETAILS OF GUARANTEES AND INDEMNITIES HELD BY HSBC

The following guarantees exist as at 31st December 2024:

Guarantees in favour of Qatar Energy of £38,597 expires 10/03/2025 (£38,597 : 2023)

10. DETAILS OF LEGAL CHARGES

The HSBC Bank Plc and its subsidiary HSBC Invoice Finance (UK) Limited hold the following charges over the assets of the company:

A debenture including a fixed charge over all present freehold and leasehold property. A first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future, and a first floating charge over all the company's assets and undertakings both present and future dates January 2008. A legal assignment of contracts applied in September 2015.