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Registration number: 11161845

UTORDO Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

UTORDO Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

UTORDO Limited

Company Information

Directors

Mr RP Davies

Mrs H Davies

Registered office

20-22 Wenlock Road
London
N1 7GU

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

UTORDO Limited

(Registration number: 11161845)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

15,331

2,239

Current assets

 

Debtors

5

49,855

29,850

Cash at bank and in hand

 

50,930

35,223

 

100,785

65,073

Creditors: Amounts falling due within one year

6

(46,081)

(24,083)

Net current assets

 

54,704

40,990

Total assets less current liabilities

 

70,035

43,229

Creditors: Amounts falling due after more than one year

6

(2,739)

(8,940)

Net assets

 

67,296

34,289

Capital and reserves

 

Called up share capital

100

100

Retained earnings

67,196

34,189

Shareholders' funds

 

67,296

34,289

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 1 August 2025 and signed on its behalf by:
 

.........................................
Mr RP Davies
Director

   
     
 

UTORDO 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 England.

The address of its registered office is:
20-22 Wenlock Road
London
N1 7GU
England

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

The financial statements have been prepared on a going concern basis.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

UTORDO Limited

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

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.

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

33.3% Reducing balance

Fixtures and Fittings

25% Reducing balance

Motor vehicles

25% Reducing balance

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.

 

UTORDO Limited

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

Borrowings

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

3,634

-

3,634

Additions

2,755

15,750

18,505

At 31 December 2024

6,389

15,750

22,139

Depreciation

At 1 January 2024

1,395

-

1,395

Charge for the year

1,475

3,938

5,413

At 31 December 2024

2,870

3,938

6,808

Carrying amount

At 31 December 2024

3,519

11,812

15,331

At 31 December 2023

2,239

-

2,239

 

UTORDO Limited

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

5

Debtors

Current

2024
£

2023
£

Trade debtors

44,199

27,484

Other debtors

5,656

2,366

 

49,855

29,850

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

18,918

8,161

Trade creditors

 

3,420

216

Taxation and social security

 

21,243

12,806

Accruals and deferred income

 

2,500

2,900

 

46,081

24,083

 

UTORDO Limited

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

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

2,739

8,940

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,108

3,977

Bank overdrafts

13,810

4,184

18,918

8,161

8

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Mr RP Davies

2,367

14,600

(11,312)

5,655

2023

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr RP Davies

(4,200)

8,855

(2,288)

2,367