Company Registration No. 12278359 (England and Wales)
Universal Bitz Ltd
Unaudited accounts
for the year ended 30 September 2024
Universal Bitz Ltd
Unaudited accounts
Contents
Universal Bitz Ltd
Company Information
for the year ended 30 September 2024
Directors
Clare Hymes
Max Jonathan Hymes
Company Number
12278359 (England and Wales)
Registered Office
Wittas House, Two Rivers
Station Lane
Witney
Oxfordshire
OX28 4BH
United Kingdom
Accountants
Aventae Ltd
Wittas House, Two Rivers
Station Lane
WITNEY
Oxon
OX28 4BH
Universal Bitz Ltd
Statement of financial position
as at 30 September 2024
Tangible assets
1,563
2,033
Cash at bank and in hand
4,009
6,146
Creditors: amounts falling due within one year
(4,995)
(5,951)
Net current assets
3,191
3,219
Called up share capital
100
100
Profit and loss account
4,654
5,152
Shareholders' funds
4,754
5,252
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by
Max Jonathan Hymes
Director
Company Registration No. 12278359
Universal Bitz Ltd
Notes to the Accounts
for the year ended 30 September 2024
Universal Bitz Ltd is a private company, limited by shares, registered in England and Wales, registration number 12278359. The registered office is Wittas House, Two Rivers , Station Lane, Witney, Oxfordshire, OX28 4BH, United Kingdom.
2
Compliance with accounting standards
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provision of FRS102 Section 1A - small entities.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention in accordance with Section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at historical cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on a straight line basis.
The depreciation rates are as follows:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Short term trade creditors are measured at the transaction price.
Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Universal Bitz Ltd
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 October 2023
548
3,170
3,718
At 30 September 2024
548
3,465
4,013
At 1 October 2023
214
1,471
1,685
Charge for the year
109
656
765
At 30 September 2024
323
2,127
2,450
At 30 September 2024
225
1,338
1,563
At 30 September 2023
334
1,699
2,033
Amounts falling due within one year
Accrued income and prepayments
1,177
24
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,515
3,462
Loans from directors
182
216
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).