Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-08-01false88truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04170975 2023-08-01 2024-07-31 04170975 2022-08-01 2023-07-31 04170975 2024-07-31 04170975 2023-07-31 04170975 c:CompanySecretary1 2023-08-01 2024-07-31 04170975 c:Director1 2023-08-01 2024-07-31 04170975 c:Director2 2023-08-01 2024-07-31 04170975 c:Director4 2023-08-01 2024-07-31 04170975 c:Director5 2023-08-01 2024-07-31 04170975 c:Director10 2023-08-01 2024-07-31 04170975 c:Director12 2023-08-01 2024-07-31 04170975 c:Director13 2023-08-01 2024-07-31 04170975 c:Director13 2024-07-31 04170975 c:Director14 2023-08-01 2024-07-31 04170975 c:Director15 2023-08-01 2024-07-31 04170975 c:Director15 2024-07-31 04170975 c:RegisteredOffice 2023-08-01 2024-07-31 04170975 d:CurrentFinancialInstruments 2024-07-31 04170975 d:CurrentFinancialInstruments 2023-07-31 04170975 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 04170975 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04170975 d:RetainedEarningsAccumulatedLosses 2024-07-31 04170975 d:RetainedEarningsAccumulatedLosses 2023-07-31 04170975 c:FRS102 2023-08-01 2024-07-31 04170975 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 04170975 c:FullAccounts 2023-08-01 2024-07-31 04170975 c:CompanyLimitedByGuarantee 2023-08-01 2024-07-31 04170975 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure
Registered Number:04170975













UAG LTD
(A Company Limited by Guarantee)




UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024











 
UAG LTD
 
(A Company Limited by Guarantee)
 

 
COMPANY INFORMATION


Directors
A Charnock 
L Cole 
T Hibbert (Chair) 
A Parsons 
R Bloomer 
L Taylor 
R Farace (resigned 15 February 2024)
C Milligan 
R Boyce (appointed 1 October 2024)




Company secretary
L Cole



Registered number
04170975



Registered office
University of East Anglia
Norwich Research Park

Norwich

NR4 7TJ




Accountants
Scrutton Bland Limited
Accountants

820 The Crescent

Colchester Business Park

Colchester

Essex

CO4 9YQ






 
UAG LTD
 
(A Company Limited by Guarantee)
 


CONTENTS



Page
Directors' Report
1 - 2
Accountant's Report
3
Profit and Loss Account
4
Balance Sheet
5
Notes to the Financial Statements
6 - 8



 
UAG LTD
 
(A Company Limited by Guarantee)
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2024

The directors present their report and the financial statements for the year ended 31 July 2024.

Principal activity

The company is limited by guarantee and was incorporated on 1 March 2001 by a group of 37 British Universities.  It was established to carry on the business of selection and appointment of advertising agents and management of contracts placed with such agents. Each of these existing original full members (now 35 in total) hold an entitlement to any future profit from the company's operations.  The company is funded by subscriptions paid by the Universities within its membership.  It should be noted that there are two classes of members within UAG Limited: 35 full members who benefit from an interest in jobs.ac.uk and other media advertising arrangements; and 3 Associate members who benefit only from other media advertising arrangements negotiated by UAG Limited for the total membership.  The 35 full (original) members hold a "Golden Share" interest in jobs.ac.uk which means that the venture cannot be sold without the involvements and agreement of these 35 original UAG members.
The subscription rate of £800 for full members has been maintained during the financial year, with associate members paying a subscription rate of £500, and these rates have been agreed until July 2025. 
 
The staff recruitment landscape in higher education in the UK remains increasingly competitive and challenging, with universities continuing to face pressure to attract and retain top talent amid growing demand for specialised skills and expertise. Institutions are navigating worsening budget constraints, evolving expectations around diversity and inclusion, and the impact of Brexit on the availability of international staff. There is also a rising focus on mental health and work-life balance, making it essential for universities to offer attractive, supportive working environments to ensure long-term staff retention.

Directors

The end date of all current Directors' terms of office is 31 July 2025.
The directors who served during the year were:

A Charnock 
L Cole 
T Hibbert (Chair) 
A Parsons 
R Bloomer 
L Taylor 
R Farace (resigned 15 February 2024)
C Milligan 


- 1 -



 
UAG LTD

(A Company Limited by Guarantee)
 

 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024


Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 27 March 2025 and signed on its behalf.
 





L Cole
Director


- 2 -



 
UAG LTD
 
(A Company Limited by Guarantee)
 

 
  
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF UAG LTD
FOR THE YEAR ENDED 31 JULY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of UAG Ltd for the year ended 31 July 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of UAG Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of UAG Ltd and state those matters that we have agreed to state to the Board of Directors of UAG Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than UAG Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that UAG Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of UAG Ltd. You consider that UAG Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of UAG Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Scrutton Bland Limited
 
Accountants
  
820 The Crescent
Colchester Business Park
Colchester
Essex
CO4 9YQ
23 April 2025

- 3 -



 
UAG LTD
 
(A Company Limited by Guarantee)
 

 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JULY 2024

2024
2023
Note
£
£

  

Turnover
  
29,500
29,500

Gross profit
  
29,500
29,500

Administrative expenses
  
(9,886)
(7,559)

Profit for the financial year
  
19,614
21,941

The notes on pages 6 to 8 form part of these financial statements.


- 4 -



 
UAG LTD
  
(A Company Limited by Guarantee)
REGISTERED NUMBER:04170975


BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
135,546
115,932

  
135,546
115,932

Creditors: amounts falling due within one year
 5 
(20,849)
(20,849)

Net current assets
  
 
 
114,697
 
 
95,083

Total assets less current liabilities
  
114,697
95,083

  

Net assets
  
114,697
95,083


Capital and reserves
  

Profit and loss account
  
114,697
95,083

  
114,697
95,083


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 March 2025.




L Cole
Director

The notes on pages 6 to 8 form part of these financial statements.


- 5 -



 
UAG LTD
 
(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

UAG Limited is a private company limited by guarantee, incorporated in England and Wales, registration number 04170975.  The address of the registered office is University of East Anglia, Norwich Research Park, Norwich, NR4 7TJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors consider that the company is a going concern and have continued to prepare the financial statements on a going concern basis. 

 
2.3

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The turnover shown in the profit and loss account represents subscription income receivable for the year.

 
2.4

Taxation

The company is treated for corporation tax purposes as being mutally trading and is not liable to UK corporation tax on its trading profits.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Creditors

Short-term 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.


- 6 -



 
UAG LTD
 
(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans to related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 - 8).


4.


Debtors

2024
2023
£
£


Other debtors
135,546
115,932


The amount of £135,546 (2023: £115,932) is owed by the University of East Anglia, which acts as banker to UAG Limited.


5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
20,849
20,849


Included within other creditors is a balance of £20,849 (2023: £20,849) which is an amount due to the  members.


- 7 -



 
UAG LTD
 
(A Company Limited by Guarantee)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Related party transactions

All of the original remaining 35 full members of the Universities Advertising Group (now UAG Limited) are deemed to be related parties due to the fact that they are stakeholders in the company. In addition, 3 associate members remain who have joined UAG Limited since 1 August 2002 and they are also deemed to be related parties as associate members of UAG Limited. The company is wholly owned by its members.
The University of East Anglia, a member institution, acts as the financial advisor to the company. This service is provided on normal commercial terms. A small amount of administrative time was suffered by the University on behalf of the company. The cost of this time is not quantifiable. The balance due from the University of East Anglia is disclosed in note 4 of the financial statements. 


- 8 -