Company registration number 03577753 (England and Wales)
UNIVERSAL TTR LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
UNIVERSAL TTR LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 5
UNIVERSAL TTR LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 28 JUNE 2024
- 1 -
2024
2023
Notes
£
£
Turnover
445,455
447,138
Cost of sales
(380,600)
(408,347)
Gross profit
64,855
38,791
Administrative expenses
(18,511)
(48,784)
Operating profit/(loss)
46,344
(9,993)
Interest payable and similar expenses
-
0
(112)
Profit/(loss) before taxation
46,344
(10,105)
Tax on profit/(loss)
(8,805)
1,899
Profit/(loss) for the financial year
37,539
(8,206)
Retained earnings brought forward
63,757
119,426
Dividends
(25,000)
(47,463)
Retained earnings carried forward
76,296
63,757
UNIVERSAL TTR LIMITED
BALANCE SHEET
AS AT
28 JUNE 2024
28 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
59,218
82,574
Cash at bank and in hand
75,681
92,025
134,899
174,599
Creditors: amounts falling due within one year
5
(58,601)
(110,840)
Net current assets
76,298
63,759
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
76,296
63,757
Total equity
76,298
63,759

For the financial year ended 28 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 June 2025 and are signed on its behalf by:
Mr M A Lacey
Director
Company registration number 03577753 (England and Wales)
UNIVERSAL TTR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JUNE 2024
- 3 -
1
Accounting policies
Company information

Universal TTR Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 2, Albion House, 2 Etruria Office Village, Forge Lane, Etruria, Stoke on Trent, Staffordshire, ST1 5RQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

UNIVERSAL TTR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Computers
£
Cost
At 29 June 2023 and 28 June 2024
2,375
Depreciation and impairment
At 29 June 2023 and 28 June 2024
2,375
Carrying amount
At 28 June 2024
-
0
At 28 June 2023
-
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
59,218
80,696
Other debtors
-
0
1,878
59,218
82,574
UNIVERSAL TTR LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 JUNE 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
40,056
96,541
Taxation and social security
9,226
4,830
Other creditors
9,319
9,469
58,601
110,840
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