Silverfin false false 31/07/2024 01/08/2023 31/07/2024 Dr Susan Scurlock MBE 02/10/2014 Mr Jamie Mcilvenny 06/04/2024 25 April 2025 The principal activity of the company continued to be that of an IP holding company. 09244939 2024-07-31 09244939 bus:Director1 2024-07-31 09244939 bus:Director2 2024-07-31 09244939 core:CurrentFinancialInstruments 2024-07-31 09244939 core:CurrentFinancialInstruments 2023-07-31 09244939 2023-07-31 09244939 core:ShareCapital 2024-07-31 09244939 core:ShareCapital 2023-07-31 09244939 core:RetainedEarningsAccumulatedLosses 2024-07-31 09244939 core:RetainedEarningsAccumulatedLosses 2023-07-31 09244939 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-07-31 09244939 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-07-31 09244939 core:CurrentFinancialInstruments 1 2024-07-31 09244939 core:CurrentFinancialInstruments 1 2023-07-31 09244939 2023-08-01 2024-07-31 09244939 bus:FilletedAccounts 2023-08-01 2024-07-31 09244939 bus:SmallEntities 2023-08-01 2024-07-31 09244939 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 09244939 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09244939 bus:Director1 2023-08-01 2024-07-31 09244939 bus:Director2 2023-08-01 2024-07-31 09244939 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Company No: 09244939 (England and Wales)

THE UNIVERSE OF ENGINEERING LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH THE REGISTRAR

THE UNIVERSE OF ENGINEERING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024

Contents

THE UNIVERSE OF ENGINEERING LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
THE UNIVERSE OF ENGINEERING LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
DIRECTORS Dr Susan Scurlock MBE
Mr Jamie Mcilvenny (Appointed 06 April 2024)
REGISTERED OFFICE 9 Slater Terrace
Burnley
Lancashire
BB11 1BU
United Kingdom
COMPANY NUMBER 09244939 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
THE UNIVERSE OF ENGINEERING LTD

BALANCE SHEET

AS AT 31 JULY 2024
THE UNIVERSE OF ENGINEERING LTD

BALANCE SHEET (continued)

AS AT 31 JULY 2024
Note 2024 2023
£ £
Current assets
Debtors 3 43,181 44,181
Cash at bank and in hand 408 890
43,589 45,071
Creditors: amounts falling due within one year 4 ( 41,072) ( 44,927)
Net current assets 2,517 144
Total assets less current liabilities 2,517 144
Net assets 2,517 144
Capital and reserves
Called-up share capital 100 100
Profit and loss account 2,417 44
Total shareholder's funds 2,517 144

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of The Universe of Engineering Ltd (registered number: 09244939) were approved and authorised for issue by the Board of Directors on 25 April 2025. They were signed on its behalf by:

Dr Susan Scurlock MBE
Director
THE UNIVERSE OF ENGINEERING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
THE UNIVERSE OF ENGINEERING LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Universe of Engineering Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Slater Terrace, Burnley, Lancashire, BB11 1BU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 1

3. Debtors

2024 2023
£ £
Amounts owed by related parties 32,168 32,168
Amounts owed by directors 7,393 8,393
Other debtors 3,620 3,620
43,181 44,181

4. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to connected companies 40,276 44,213
Corporation tax 796 714
41,072 44,927