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REGISTERED NUMBER: 02881554 (England and Wales)















United Technologists Europe Limited

Unaudited Financial Statements

for the year ended

31 May 2024






United Technologists Europe Limited (Registered number: 02881554)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


United Technologists Europe Limited

Company Information
for the year ended 31 May 2024







DIRECTORS: P Grafton
C Sharpe





SECRETARY: C Sharpe





REGISTERED OFFICE: Wolves Farm Lane
Off Ipswich Road
Hadleigh
Suffolk
IP7 6BH





REGISTERED NUMBER: 02881554 (England and Wales)

United Technologists Europe Limited (Registered number: 02881554)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 65,484 98,093
65,484 98,093

CURRENT ASSETS
Stocks 366,806 341,882
Debtors 6 174,756 233,164
Cash at bank 87,285 12,920
628,847 587,966
CREDITORS
Amounts falling due within one year 7 (920,593 ) (656,020 )
NET CURRENT LIABILITIES (291,746 ) (68,054 )
TOTAL ASSETS LESS CURRENT LIABILITIES (226,262 ) 30,039

CAPITAL AND RESERVES
Called up share capital 8 4 4
Capital redemption reserve 4 4
Retained earnings (226,270 ) 30,031
SHAREHOLDERS' FUNDS (226,262 ) 30,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:





C Sharpe - Director


United Technologists Europe Limited (Registered number: 02881554)

Notes to the Financial Statements
for the year ended 31 May 2024


1. STATUTORY INFORMATION

United Technologists Europe Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The directors at the time of approving the financial statements have reasonable expectations that the company has adequate expectations that the company has adequate resources and support from the shareholder to continue in operational existence for the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimated and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and current knowledge of he market the company operates together with other factors that are considered to be relevant. Actual results may differ from theses estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have significant effect on the amounts recognised in the financial statements relate to stock obsolescence provision, valuation of patents and provision for doubtful debts.

Turnover and other income
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of insert detail is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from maintenance & support contracts is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Interest and dividends receivable
Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% reducing balance
Fixtures and fittings - 33% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

United Technologists Europe Limited (Registered number: 02881554)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 3,153,181
AMORTISATION
At 1 June 2023
and 31 May 2024 3,153,181
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

United Technologists Europe Limited (Registered number: 02881554)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 293,535 287,466 325,091 64,453 970,545
Disposals - (37,357 ) - - (37,357 )
At 31 May 2024 293,535 250,109 325,091 64,453 933,188
DEPRECIATION
At 1 June 2023 293,535 247,102 270,076 61,739 872,452
Charge for year - 5,499 18,154 678 24,331
Eliminated on disposal - (29,079 ) - - (29,079 )
At 31 May 2024 293,535 223,522 288,230 62,417 867,704
NET BOOK VALUE
At 31 May 2024 - 26,587 36,861 2,036 65,484
At 31 May 2023 - 40,364 55,015 2,714 98,093

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,620 56,659
Other debtors 162,136 176,505
174,756 233,164

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account - 3,250
Trade creditors 14,405 56,339
Amounts owed to associates 160,887 887
Taxation and social security 19,679 86,960
Other creditors 725,622 508,584
920,593 656,020

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
8 Ordinary £1.00 4 4

9. RELATED PARTY DISCLOSURES

At the year end. the directors are owed £704,900 (2023 - £451,900) relating to an interest free loan with no set repayment terms.

The company owes an associated company a balance of £160,000 (2023: NIL) at the year-end. The loan is unsecured, repayable on demand, and no interest is charged.