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Registration number: 08848635

UAVaid Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

UAVaid Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

UAVaid Limited

Company Information

Directors

Mr James Ronen

Mr Daniel Ronen

Registered office

118 Francklyn Gardens
Edgware
Middlesex
HA8 8SA

Accountants

IA Accountants
Chartered Accountants9 Barlings Road
Harpenden
Herts
AL5 2AL

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
UAVaid Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of UAVaid Limited for the year ended 31 December 2024 as set out on pages 3 to 9 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of UAVaid Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of UAVaid Limited and state those matters that we have agreed to state to the Board of Directors of UAVaid Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than UAVaid Limited and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of UAVaid Limited. 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 accounts.

......................................

IA Accountants
Chartered Accountants
9 Barlings Road
Harpenden
Herts
AL5 2AL

6 June 2025

 

UAVaid Limited

(Registration number: 08848635)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

819,761

819,761

Current assets

 

Debtors

6

15,443

56,595

Cash at bank and in hand

 

15,366

5,604

 

30,809

62,199

Creditors: Amounts falling due within one year

7

(49,536)

(86,901)

Net current liabilities

 

(18,727)

(24,702)

Total assets less current liabilities

 

801,034

795,059

Creditors: Amounts falling due after more than one year

7

(9,410)

(22,442)

Provisions for liabilities

(55)

(55)

Net assets

 

791,569

772,562

Capital and reserves

 

Called up share capital

8

118

118

Share premium reserve

149,982

149,982

Other reserves

11,381

11,381

Retained earnings

630,088

611,081

Shareholders' funds

 

791,569

772,562

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 June 2025 and signed on its behalf by:
 

.........................................
Mr James Ronen
Director

 

UAVaid Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom .

The address of its registered office is:
118 Francklyn Gardens
Edgware
Middlesex
HA8 8SA
England

These financial statements were authorised for issue by the Board on 6 June 2025.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

 

UAVaid Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

Straight line over 3 years

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangible Assets - internally generated

The shorter of 10 years or useful life

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

UAVaid Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 2).

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2024

819,761

819,761

At 31 December 2024

819,761

819,761

Amortisation

Carrying amount

At 31 December 2024

819,761

819,761

At 31 December 2023

819,761

819,761

The aggregate amount of research and development expenditure recognised as an expense during the period is £71,311 (2023 - £127,223).
 

 

UAVaid Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

11,885

1,495

13,380

At 31 December 2024

11,885

1,495

13,380

Depreciation

At 1 January 2024

11,885

1,495

13,380

At 31 December 2024

11,885

1,495

13,380

Carrying amount

At 31 December 2024

-

-

-

6

Debtors

Current

2024
£

2023
£

Other debtors

15,443

56,595

 

15,443

56,595

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

35,792

35,791

Taxation and social security

 

4,445

18,715

Accruals and deferred income

 

8,605

1,501

Other creditors

 

694

30,894

 

49,536

86,901

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

9,410

22,442

8

Share capital

Allotted, called up and fully paid shares

 

UAVaid Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

118

118

118

118

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

9,410

22,442

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,292

8,291

Other borrowings

27,500

27,500

35,792

35,791

10

Related party transactions

 

UAVaid Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

50,025

93,406