Registration number:
United Manufacturing And Trading Company Limited
for the Year Ended 31 December 2023
United Manufacturing And Trading Company Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
United Manufacturing And Trading Company Limited
Company Information
Director |
Mr LM Levie |
Registered office |
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Registered number |
05127235 |
Auditors |
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United Manufacturing And Trading Company Limited
(Registration number: 05127235)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investment in shares |
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Current assets |
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Debtors |
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Investments |
1,342,253 |
1,326,560 |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
17,175 |
17,175 |
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Share premium reserve |
2,108,000 |
2,108,000 |
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Retained earnings |
7,310,285 |
7,345,687 |
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Shareholders' funds |
9,435,460 |
9,470,862 |
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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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United Manufacturing And Trading Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
The principal place of business is:
1511 Avenida Juan Ponce de Leon
#1031
San Juan, Puerto Rico
00909
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.
Going concern
The financial statements have been prepared on a going concern basis.
Audit report |
The auditors’ report on the accounts for the year ended 31 December 2023
The audit report was signed on
United Manufacturing And Trading Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates
taxable income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Fixed asset investments
The fixed asset investment in subsidiary are valued at the fair value through profit and loss.
Current asset investment
The current asset investments (corporate bonds/notes) are valued at the fair value through profit and loss.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
United Manufacturing And Trading Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans classified 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 receipts discounted at a market rate of interest.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Taxation |
Tax charged/(credited) in the profit and loss account
2023 |
2022 |
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Current taxation |
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UK corporation tax adjustment to prior periods |
( |
( |
Deferred taxation |
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Arising from origination and reversal of timing differences |
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( |
Tax expense/(receipt) in the income statement |
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( |
United Manufacturing And Trading Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Investment in Shares (Non Current) |
2023 |
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At 1 January |
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Fair value adjustments |
( |
At 31 December |
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Investments |
2023 |
2022 |
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Corporate bonds/notes |
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Corporate bonds |
Total |
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Financial assets |
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At 1 January 2023 |
1,326,560 |
1,326,560 |
Additions |
89,080 |
89,080 |
Revaluations |
60,238 |
60,238 |
Foreign exchange rate movement |
(133,625) |
(133,625) |
At 31 December 2023 |
1,342,253 |
1,342,253 |
Debtors |
Note |
2023 |
2022 |
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Amounts owed by related parties |
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Prepayments |
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Details of non-current trade and other debtors
£666,630 (2022 -£705,666) of loans to related party is due after one year.
United Manufacturing And Trading Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Creditors |
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
- |
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Amounts due to related parties |
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Taxation and social security |
- |
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Other creditors |
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Provision for liabilities |
Deferred tax |
Total |
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At 1 January 2023 |
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Additional provisions |
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At 31 December 2023 |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
|
|
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17,175.00 |
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17,175.00 |
United Manufacturing And Trading Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Amount due to group undertakings |
Current loans and borrowings
2023 |
2022 |
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Other borrowings |
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The unsecured loan notes of £37,961 (2022: £42,183), due to International Hose Holding Company LLC are repayable on demand and attract interest at a rate of 12% per annum.
United Manufacturing And Trading Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Related party transactions |
Related Companies
Director's balance
Included in other creditors is a balance due to director, Mr L Levie of £1,017,348 (2022: £1,017,348).
Transformer Acquisition Company Limited
A company in which Mr L M Levie is a director.
At the balance sheet date, the company owed £429,902 (2022: £429,902) to Transformer Acquisition Company Limited.
Aluminium Investment Company Limited
A company in which Mr L M Levie is a director.
At the balance sheet date, Aluminium Investment Company Limited owed £434 (2022: £434) to the company.
Casting Holding Company Limited
A company in which Mr L M Levie is a director.
At the balance sheet date, Casting Holding Company Limited owed £217 (2022: £217) to the company.
IP3 Plastics Holding Company Ltd
A company in which Mr L M Levie is a director.
At the balance sheet date, Lyon Plastic Acquisition Company Limited owed £217 (2022: £217) to the company.
Light Acquisition Company Limited
A company in which Mr L M Levie is a director.
At the balance sheet date, Light Acquisition Company Limited owed £13,034 (2022: £13,034) to the company.
Sirius Acquisition company Limited
A company in which Mr L M Levie is a director.
At the balance sheet date, Sirius Acquisition company Limited owed £1,500 (2022: £1,500) to the company.
Alliance Manufacturing and Trading Company Ltd
A company in which Mr L M Levie is a director.
At the balance sheet date, Alliance Manufacturing and Trading Company Ltd owed £237,148 (2022: £237,148) to the company.
United Manufacturing And Trading Company Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Monet Acquisition Company Limited
A company in which Mr L M Levie is a director.
At the balance sheet date, Monet Acquisition Company Limited owed £12,937 (2022: £12,937) to the company.
Champlain Cable Corporation
A company in which Mr L M Levie is an owner.
At the balance sheet date, Champlain Cable Corporation owed £702,394 (2022: £705,666) to the company.
Avara Pharmaceutical Services Inc.
A company in which Mr L M Levie is a director.
At the balance sheet date, Avara Pharmaceutical Services Inc. owed £220,561 (2022: £220,561) to the company.
Avara International Limited
A company in which Mr L M Levie is a director.
At the balance sheet date, Avara International Limited owed £434 (2022: £434) to the company.
Avara International Holding Limited
A company in which Mr L M Levie is a director.
At the balance sheet date, Avara International Holding Limited owed £434 (2022: £434) to the company.
Avara Holding Limited
A company in which Mr L M Levie is a director.
At the balance sheet date, Avara Holding Limited owed £434 (2022: £434) to the company.
Avara Avlon Pharma Services Limited
A company in which Mr L M Levie is a director.
At the balance sheet date, Avara Avlon Pharma Services Limited owed £217 (2022: £217) to the company.
Ultimate controlling party |
The controlling party is International Hose Holding Company LLC, incorporated in USA.
Mr L M Levie is the ultimate controlling party by virtue of his majority shareholding in the ultimate parent undertaking.