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REGISTERED NUMBER: 04208139 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Universal Ventilation Systems Limited

Universal Ventilation Systems Limited (Registered number: 04208139)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Universal Ventilation Systems Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mr C Grapes
Mr S Milburn





SECRETARY: Mr C Grapes





REGISTERED OFFICE: Site 1
Newtown Industrial Estate
Birtley
Co. Durham
DH3 2QW





REGISTERED NUMBER: 04208139 (England and Wales)





ACCOUNTANTS: S&W Partners (Newcastle) Limited
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Universal Ventilation Systems Limited (Registered number: 04208139)

Balance Sheet
30 November 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 105,250 97,635

CURRENT ASSETS
Stocks 5,800 6,500
Debtors 6 464,683 381,585
Cash at bank and in hand 260,361 297,577
730,844 685,662
CREDITORS
Amounts falling due within one year 7 (314,581 ) (291,324 )
NET CURRENT ASSETS 416,263 394,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

521,513

491,973

CREDITORS
Amounts falling due after more than one
year

8

(5,474

)

(12,774

)

PROVISIONS FOR LIABILITIES (25,710 ) (18,551 )
NET ASSETS 490,329 460,648

CAPITAL AND RESERVES
Called up share capital 2 2
Profit and loss account 490,327 460,646
SHAREHOLDERS' FUNDS 490,329 460,648

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2025 and were signed on its behalf by:




Mr C Grapes - Director



Mr S Milburn - Director


Universal Ventilation Systems Limited (Registered number: 04208139)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Universal Ventilation Systems 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. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable from installation of ventilation systems, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc- 33% on cost, 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Government grants
Government grants received in relation to expenditure are credited when the expenditure is charged to profit and loss.

Stocks
Stocks are measured at the lower of cost and estimated selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase.

Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Universal Ventilation Systems Limited (Registered number: 04208139)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

3. ACCOUNTING POLICIES - continued

Leasing
Assets acquired under finance leases are capitalised and depreciated in the same manner as tangible fixed assets. The related obligations, net of future finance charges are included in creditors.

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

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 accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

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 profit or loss.

Employee benefits
Short term employee benefits, including contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 22 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 227,525
Additions 41,142
Disposals (7,293 )
At 30 November 2024 261,374
DEPRECIATION
At 1 December 2023 129,890
Charge for year 31,220
Eliminated on disposal (4,986 )
At 30 November 2024 156,124
NET BOOK VALUE
At 30 November 2024 105,250
At 30 November 2023 97,635


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 391,962 297,019
Other debtors 72,721 84,566
464,683 381,585

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases (see note 9) 7,300 7,300
Trade creditors 218,406 211,039
Taxation and social security 53,637 24,094
Other creditors 35,238 48,891
314,581 291,324

Universal Ventilation Systems Limited (Registered number: 04208139)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Finance leases (see note 9) 5,474 12,774

9. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 7,300 7,300
Between one and five years 5,474 12,774
12,774 20,074

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Finance leases 12,774 20,074

The finance lease liability is secured against the assets to which it relates. The net book value of fixed assets held under finance lease at 30 November 2024 was £20,756 (2023 - £32,581).

11. CONTINGENT LIABILITIES

The company is subject to a cross guarantee with a related company in respect of borrowings. At the balance sheet date the amount outstanding, to which this guarantee relates, amounted to £97,205 (2023 - £105,257).