10 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 11311402 2023-05-01 2024-04-30 11311402 2024-04-30 11311402 2023-04-30 11311402 2022-05-01 2023-04-30 11311402 2023-04-30 11311402 2022-04-30 11311402 core:LandBuildings core:LongLeaseholdAssets 2023-05-01 2024-04-30 11311402 core:FurnitureFittings 2023-05-01 2024-04-30 11311402 core:MotorVehicles 2023-05-01 2024-04-30 11311402 bus:Director1 2023-05-01 2024-04-30 11311402 core:LandBuildings core:LongLeaseholdAssets 2023-04-30 11311402 core:FurnitureFittings 2023-04-30 11311402 core:MotorVehicles 2023-04-30 11311402 core:LandBuildings core:LongLeaseholdAssets 2024-04-30 11311402 core:FurnitureFittings 2024-04-30 11311402 core:MotorVehicles 2024-04-30 11311402 core:WithinOneYear 2024-04-30 11311402 core:WithinOneYear 2023-04-30 11311402 core:AfterOneYear 2024-04-30 11311402 core:AfterOneYear 2023-04-30 11311402 core:ShareCapital 2024-04-30 11311402 core:ShareCapital 2023-04-30 11311402 core:RetainedEarningsAccumulatedLosses 2024-04-30 11311402 core:RetainedEarningsAccumulatedLosses 2023-04-30 11311402 core:BetweenOneFiveYears 2024-04-30 11311402 core:BetweenOneFiveYears 2023-04-30 11311402 core:MoreThanFiveYears 2024-04-30 11311402 core:MoreThanFiveYears 2023-04-30 11311402 core:LandBuildings core:LongLeaseholdAssets 2023-04-30 11311402 core:FurnitureFittings 2023-04-30 11311402 core:MotorVehicles 2023-04-30 11311402 bus:SmallEntities 2023-05-01 2024-04-30 11311402 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 11311402 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11311402 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11311402 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 11311402
Unimed Procurement Services Limited
Filleted Unaudited Financial Statements
30 April 2024
Unimed Procurement Services Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
317,685
336,840
Current assets
Debtors
6
2,564,016
2,104,296
Cash at bank and in hand
2,201,860
1,674,230
------------
------------
4,765,876
3,778,526
Creditors: amounts falling due within one year
7
2,265,438
1,350,235
------------
------------
Net current assets
2,500,438
2,428,291
------------
------------
Total assets less current liabilities
2,818,123
2,765,131
Creditors: amounts falling due after more than one year
8
239,440
331,764
Provisions
49,766
57,345
------------
------------
Net assets
2,528,917
2,376,022
------------
------------
Capital and reserves
Called up share capital
12,500
10,000
Profit and loss account
2,516,417
2,366,022
------------
------------
Shareholders funds
2,528,917
2,376,022
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Unimed Procurement Services Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
Mr D S S Thakkar
Director
Company registration number: 11311402
Unimed Procurement Services Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
10% straight line
Fixtures and fittings
-
10% straight line
Motor vehicles
-
20% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 7 ).
5. Tangible assets
Short leasehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 May 2023
71,526
127,750
215,156
40,178
454,610
Additions
7,000
5,125
112,558
3,533
128,216
Disposals
( 98,675)
( 98,675)
--------
---------
---------
--------
---------
At 30 April 2024
78,526
132,875
229,039
43,711
484,151
--------
---------
---------
--------
---------
Depreciation
At 1 May 2023
26,972
42,891
21,469
26,438
117,770
Charge for the year
7,386
12,838
43,031
7,232
70,487
Disposals
( 21,791)
( 21,791)
--------
---------
---------
--------
---------
At 30 April 2024
34,358
55,729
42,709
33,670
166,466
--------
---------
---------
--------
---------
Carrying amount
At 30 April 2024
44,168
77,146
186,330
10,041
317,685
--------
---------
---------
--------
---------
At 30 April 2023
44,554
84,859
193,687
13,740
336,840
--------
---------
---------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
1,825,278
1,078,365
Other debtors
738,738
1,025,931
------------
------------
2,564,016
2,104,296
------------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
81,818
81,818
Trade creditors
511,879
442,207
Corporation tax
173,016
203,672
Social security and other taxes
7,520
4,761
Other creditors
1,491,205
617,777
------------
------------
2,265,438
1,350,235
------------
------------
The company has an outstanding charge with Barclays Bank Plc, registered on 17 June 2019, which is held over the Company's bank account.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
95,455
177,273
Other creditors
143,985
154,491
---------
---------
239,440
331,764
---------
---------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
36,000
36,000
Later than 1 year and not later than 5 years
144,000
144,000
Later than 5 years
24,000
60,000
---------
---------
204,000
240,000
---------
---------
10. Related party transactions
The company provided interest free loans repayable on demand to related parties. The amounts outstanding at the 30 April 2024 are £580,248 (2023: £580,557)