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Registration number: 05127235

United Manufacturing And Trading Company Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

United Manufacturing And Trading Company Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 10

 

United Manufacturing And Trading Company Limited

Company Information

Director

Mr LM Levie

Registered office

9A Burroughs Gardens
London
NW4 4AU

Registered number

05127235

Auditors

Ripe LLP
Chartered Accountants and Registered Auditors
9A Burroughs Gardens
London
NW4 4AU

 

United Manufacturing And Trading Company Limited

(Registration number: 05127235)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment in shares

5

8,397,114

8,441,866

Current assets

 

Debtors

7

1,210,475

1,213,802

Investments

6

1,342,253

1,326,560

Cash at bank and in hand

 

105,789

113,040

 

2,658,517

2,653,402

Creditors: Amounts falling due within one year

8

(1,496,212)

(1,518,664)

Net current assets

 

1,162,305

1,134,738

Total assets less current liabilities

 

9,559,419

9,576,604

Provisions for liabilities

(123,959)

(105,742)

Net assets

 

9,435,460

9,470,862

Capital and reserves

 

Called up share capital

10

17,175

17,175

Share premium reserve

2,108,000

2,108,000

Retained earnings

7,310,285

7,345,687

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 director on 16 April 2025
 

.........................................
Mr LM Levie
Director

 

United Manufacturing And Trading Company Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9A Burroughs Gardens
London
NW4 4AU
England

The principal place of business is:
1511 Avenida Juan Ponce de Leon
#1031
San Juan, Puerto Rico
00909

2

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 was unqualified.

The audit report was signed on 17 April 2025 by Robert Glazer FCA on behalf of Ripe LLP.

 

United Manufacturing And Trading Company Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

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
The financial assets and liabilities of the balance sheet are presented and evaluated in accordance with the various categories in accordance with IFRS 9.

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.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

Current taxation

UK corporation tax adjustment to prior periods

(8,193)

(10,016)

Deferred taxation

Arising from origination and reversal of timing differences

18,216

(42,494)

Tax expense/(receipt) in the income statement

10,023

(52,510)

 

United Manufacturing And Trading Company Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

5

Investment in Shares (Non Current)

2023
£

At 1 January

8,441,867

Fair value adjustments

(44,753)

At 31 December

8,397,114

6

Investments

2023
£

2022
£

Corporate bonds/notes

1,342,253

1,326,560

Corporate bonds
£

Total
£

Financial assets

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

7

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

12

1,189,963

1,193,234

Prepayments

 

20,512

20,568

 

1,210,475

1,213,802

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

8

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

37,962

42,183

Trade creditors

 

-

218

Amounts due to related parties

12

429,902

429,902

Taxation and social security

 

-

8,193

Other creditors

 

1,028,348

1,038,168

 

1,496,212

1,518,664

9

Provision for liabilities

Deferred tax
£

Total
£

At 1 January 2023

105,742

105,742

Additional provisions

18,217

18,217

At 31 December 2023

123,959

123,959

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £0.001 each

17,175,000

17,175.00

17,175,000

17,175.00

         
 

United Manufacturing And Trading Company Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

11

Amount due to group undertakings

Current loans and borrowings

2023
£

2022
£

Other borrowings

37,962

42,183

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

12

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.

13

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.