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REGISTERED NUMBER: 08485503 (England and Wales)















REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

UV&S LTD

UV&S LTD (REGISTERED NUMBER: 08485503)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 3

Consolidated Income Statement 6

Consolidated Balance Sheet 7

Company Balance Sheet 8

Notes to the Consolidated Financial Statements 9


UV&S LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: J N Ollenburger
D P Monahan





REGISTERED OFFICE: Unit 2 Mereside Park
Shield Road
Ashford
Middlesex
TW15 1BL





REGISTERED NUMBER: 08485503 (England and Wales)





AUDITORS: Clemence Hoar Cummings
Chartered Accountants and Statutory Auditor
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN

UV&S LTD (REGISTERED NUMBER: 08485503)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST DECEMBER 2024


The directors present their report with the financial statements of the company and the group for the year ended 31st December 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st January 2024 to the date of this report.

J N Ollenburger
D P Monahan

Other changes in directors holding office are as follows:

L A Spence - resigned 27th November 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Clemence Hoar Cummings, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





D P Monahan - Director


31st March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UV&S LTD


Opinion
We have audited the financial statements of UV&S Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31st December 2024 which comprise the Consolidated Income Statement, Consolidated Balance Sheet, Company Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31st December 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UV&S LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Group Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the group and parent company through discussions with directors and other management and from our commercial knowledge and experience of the media storage, logistics, events, film restoration and digitisation sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group and parent company, including: the company's constitution, FRS102 the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of
- management and inspecting legal and regulatory correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UV&S LTD

Auditors' responsibilities for the audit of the financial statements (continued)
We assessed the susceptibility of the group and the parent company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and;
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, other regulatory bodies and the group and parent company's legal advisors where required.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. International auditing standards (UK) also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Kevin Perkins FCA CTA (Senior Statutory Auditor)
for and on behalf of Clemence Hoar Cummings
Chartered Accountants and Statutory Auditor
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN

3rd April 2025

UV&S LTD (REGISTERED NUMBER: 08485503)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 31ST DECEMBER 2024

2024 2023
Notes £    £   

TURNOVER 11,397,555 8,261,932

Cost of sales 5,474,574 3,535,514
GROSS PROFIT 5,922,981 4,726,418

Administrative expenses 4,721,548 4,188,258
1,201,433 538,160

Other operating income 106,973 121,186
OPERATING PROFIT 5 1,308,406 659,346

Goodwill amortisation 6 916,470 761,761
391,936 (102,415 )

Interest receivable and similar income 12,484 6,196
404,420 (96,219 )

Interest payable and similar expenses 72,617 33,914
PROFIT/(LOSS) BEFORE TAXATION 331,803 (130,133 )

Tax on profit/(loss) 7 313,344 242,109
PROFIT/(LOSS) FOR THE
FINANCIAL YEAR

18,459

(372,242

)

Profit/(loss) attributable to:
Owners of the parent 18,459 (372,242 )

UV&S LTD (REGISTERED NUMBER: 08485503)

CONSOLIDATED BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 6,504,386 6,509,935
Tangible assets 10 1,531,724 1,501,501
Investments 11 - -
8,036,110 8,011,436

CURRENT ASSETS
Stocks - 189,663
Debtors: amounts falling due within
one year

12

1,968,358

1,420,572
Debtors: amounts falling due after
more than one year

12

402,710

354,082
Cash at bank and in hand 2,067,741 1,455,571
4,438,809 3,419,888
CREDITORS
Amounts falling due within one year 13 6,599,858 5,604,840
NET CURRENT LIABILITIES (2,161,049 ) (2,184,952 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,875,061

5,826,484

CREDITORS
Amounts falling due after more than
one year

14

(393,718

)

(379,511

)

PROVISIONS FOR LIABILITIES (354,136 ) (338,225 )
NET ASSETS 5,127,207 5,108,748

CAPITAL AND RESERVES
Called up share capital 116,200 116,200
Retained earnings 16 5,011,007 4,992,548
5,127,207 5,108,748

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 31st March 2025 and were signed on its behalf by:





D P Monahan - Director


UV&S LTD (REGISTERED NUMBER: 08485503)

COMPANY BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 2,031,965 2,438,357
Tangible assets 10 1,096,294 1,347,418
Investments 11 6,527,708 5,461,697
9,655,967 9,247,472

CURRENT ASSETS
Debtors: amounts falling due within
one year

12

1,030,485

928,012
Debtors: amounts falling due after
more than one year

12

458,314

354,082
Cash at bank and in hand 803,907 1,304,472
2,292,706 2,586,566
CREDITORS
Amounts falling due within one year 13 5,459,148 5,335,452
NET CURRENT LIABILITIES (3,166,442 ) (2,748,886 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,489,525

6,498,586

CREDITORS
Amounts falling due after more than
one year

14

(331,968

)

(313,177

)

PROVISIONS FOR LIABILITIES (247,861 ) (302,753 )
NET ASSETS 5,909,696 5,882,656

CAPITAL AND RESERVES
Called up share capital 116,200 116,200
Retained earnings 5,793,496 5,766,456
5,909,696 5,882,656

Company's profit/(loss) for the financial
year

27,040

(222,237

)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 31st March 2025 and were signed on its behalf by:





D P Monahan - Director


UV&S LTD (REGISTERED NUMBER: 08485503)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

UV&S Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 08485503 and registered office address is Unit 2 Mereside Park, Shield Road, Ashford, Middlesex, TW15 1BL.

The presentation currency of the financial statements is Pound Sterling (£).

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.

Basis of consolidation
The consolidated financial statements incorporate the accounts of UV&S Ltd and all of its subsidiary undertakings as at the 31st December 2024 using the acquisition method of accounting. The results of subsidiary undertakings are included from the date of acquisition.

Related party exemption
The group 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.

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

Goodwill
Goodwill, being the amount paid in connection with the aquisition of businesses in 2019, 2023 and 2024, are being amortised evenly over their respective estimated useful lives on 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences have been fully amortised in the current year.

Development costs have been fully amortised in the current year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost and Straight line over 5 years
Plant and machinery etc - 50% on cost, 33% on cost, 25% on cost, 15% on reducing balance, 10% on cost and at varying rates on cost

Stocks
Work in Progress is valued at the lower of cost and net realisable value.

Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

UV&S LTD (REGISTERED NUMBER: 08485503)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The group has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which includes trade and other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that as a result of one or more events that occurred after an initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and preference shares classed as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the group's contractual obligations are discharged, cancelled, or they expire


UV&S LTD (REGISTERED NUMBER: 08485503)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments (continued)


Equity Instruments
Equity instruments issued by the group are recorded at the fair value of proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Operating lease commitments
Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

UV&S LTD (REGISTERED NUMBER: 08485503)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Going concern
The directors believe that the group is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

When assessing material uncertainty in respect of going concern the directors have considered the following:-

The consolidated profit for the financial year is £18,459 however the directors remain confident that with good levels of sales growth that the group will be profitable.

There are consolidated net current liabilities of £2,161,049. Included within Creditors: Amounts due within one year is a loan from the parent company UV&S Inc. for £4,062,640. There is a guarantee in place from UV&S Inc. to the company confirming that sufficient funds will always be retained in the company to ensure that working capital is never compromised.

In view of the foregoing the directors are satisfied that no material uncertainty exists in respect of going concern.

Exceptional items
The group presents as exceptional items those significant items of income and expenses which, because of their size, nature and infrequency of the events giving rise to them merit separate presentation to allow Shareholders to understand better the elements of financial performance in the period, so as to facilitate comparison with prior periods to assess trends in financial performance more readily. Exceptional items are recorded in note 6.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Depreciation, amortisation and residual values
The directors have reviewed the asset lives and associated residual values of all fixed asset classes and have concluded that asset lives and residual values are appropriate.

Impairment of goodwill
Determining whether goodwill is impaired requires an estimation of the value in the use of cash-generating unit giving rise to the goodwill, including the estimating of the timing and amount of future cash generated by the cash-generating unit and suitable discount rate. The directors have concluded that there is no impairment to goodwill.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 38 ) .

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 371,808 348,690
Goodwill amortisation 916,470 761,761

6. EXCEPTIONAL ITEMS
2024 2023
£    £   
Goodwill amortisation (916,470 ) (761,761 )

UV&S LTD (REGISTERED NUMBER: 08485503)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 365,595 185,300
Overprovision of Tax (9,942 ) -
Total current tax 355,653 185,300

Deferred taxation (42,309 ) 56,809
Tax on profit/(loss) 313,344 242,109

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. INTANGIBLE FIXED ASSETS

Group
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st January 2024 8,490,872 - 8,490,872
Additions 910,921 - 910,921
Cost on acquisition of R3store
Studios Limited - 108,910 108,910
At 31st December 2024 9,401,793 108,910 9,510,703
AMORTISATION
At 1st January 2024 1,980,937 - 1,980,937
Charge for year 916,470 - 916,470
Accumulated amortisation on
acquisition of R3store Studios
Limited - 108,910 108,910
At 31st December 2024 2,897,407 108,910 3,006,317
NET BOOK VALUE
At 31st December 2024 6,504,386 - 6,504,386
At 31st December 2023 6,509,935 - 6,509,935

Goodwill additions above arose when the company acquired 100% of the ordinary share capital of R3store Studios Limited on 5th April 2024 for £1,066,011.

UV&S LTD (REGISTERED NUMBER: 08485503)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


9. INTANGIBLE FIXED ASSETS - continued

Company
Goodwill
£   
COST
At 1st January 2024
and 31st December 2024 4,063,925
AMORTISATION
At 1st January 2024 1,625,568
Charge for year 406,392
At 31st December 2024 2,031,960
NET BOOK VALUE
At 31st December 2024 2,031,965
At 31st December 2023 2,438,357

10. TANGIBLE FIXED ASSETS

Group
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2024 188,699 2,905,939 3,094,638
Additions 5,032 204,374 209,406
Disposals - (20,419 ) (20,419 )
Cost on acquisition of R3store
Studios Limited - 605,710 605,710
At 31st December 2024 193,731 3,695,604 3,889,335
DEPRECIATION
At 1st January 2024 84,330 1,508,806 1,593,136
Charge for year 29,170 373,049 402,219
Eliminated on disposal - (19,874 ) (19,874 )
Accumulated depreciation on
acquisition of R3store Studios
Limited - 382,130 382,130
At 31st December 2024 113,500 2,244,111 2,357,611
NET BOOK VALUE
At 31st December 2024 80,231 1,451,493 1,531,724
At 31st December 2023 104,369 1,397,133 1,501,502

UV&S LTD (REGISTERED NUMBER: 08485503)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


10. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1st January 2024 126,995
Additions 75,700
At 31st December 2024 202,695
DEPRECIATION
At 1st January 2024 70,186
Charge for year 30,411
At 31st December 2024 100,597
NET BOOK VALUE
At 31st December 2024 102,098
At 31st December 2023 56,809

Company
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2024 188,699 2,392,142 2,580,841
Additions 5,032 45,312 50,344
At 31st December 2024 193,731 2,437,454 2,631,185
DEPRECIATION
At 1st January 2024 84,330 1,149,093 1,233,423
Charge for year 29,170 272,298 301,468
At 31st December 2024 113,500 1,421,391 1,534,891
NET BOOK VALUE
At 31st December 2024 80,231 1,016,063 1,096,294
At 31st December 2023 104,369 1,243,049 1,347,418

UV&S LTD (REGISTERED NUMBER: 08485503)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1st January 2024 5,461,697
Additions 1,066,011
At 31st December 2024 6,527,708
NET BOOK VALUE
At 31st December 2024 6,527,708
At 31st December 2023 5,461,697

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

UV&S Event Services Ltd
Registered office: Unit 9 Hambridge Business Centre, Hambridge Lane, Newbury, Berkshire, RG14 5TN
Nature of business: Design and construction of exhibition stands
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1,082,391 616,328
Profit for the year 466,063 592,157

R3store Studios Limited
Registered office: Unit 2 Mereside Park, Shield Road, Ashford, Middle, Shield Road, Ashford, England, TW15 1BL
Nature of business: Archives activities
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 190,526 164,863
Profit for the year 25,663 59,092


UV&S LTD (REGISTERED NUMBER: 08485503)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


12. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 953,030 986,654 617,261 558,673
Amounts owed by group undertakings - - 103,911 -
Other debtors 1,015,328 433,918 309,313 369,339
1,968,358 1,420,572 1,030,485 928,012

Amounts falling due after more than one year:
Other debtors 402,710 354,082 458,314 354,082

Aggregate amounts 2,371,068 1,774,654 1,488,799 1,282,094

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts 57,925 92,926 - -
Trade creditors 620,622 386,177 186,312 233,630
Amounts owed to group undertakings 4,062,640 4,062,640 4,562,640 4,562,640
Taxation and social security 537,442 499,827 377,625 272,848
Other creditors 1,321,229 563,270 332,571 266,334
6,599,858 5,604,840 5,459,148 5,335,452

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans 9,312 49,111 - -
Other creditors 384,406 330,400 331,968 313,177
393,718 379,511 331,968 313,177

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 1,064,037 975,806
Between one and five years 2,246,887 2,755,583
3,310,924 3,731,389

UV&S LTD (REGISTERED NUMBER: 08485503)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


15. LEASING AGREEMENTS - continued

Company
Non-cancellable operating leases
2024 2023
£    £   
Within one year 794,000 793,750
Between one and five years 1,721,000 2,497,458
2,515,000 3,291,208

16. RESERVES

Group
Retained
earnings
£   

At 1st January 2024 4,992,548
Profit for the year 18,459
At 31st December 2024 5,011,007

Company
Retained
earnings
£   

At 1st January 2024 5,766,456
Profit for the year 27,040
At 31st December 2024 5,793,496


17. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking and controlling party is Underground Vaults & Storage Inc. a company incorporated in the United States of America, in which the results of the Company are incorporated.
The registered address of Underground Vaults & Storage Inc. is 906 North Halstead, PO Box 1723, Hutchinson, Kansas, 675041723.