Universal Smart Cards Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04278501 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

UNIVERSAL SMART CARDS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C P Allen

M W Smith

REGISTERED OFFICE:

Unit 9

Devonshire Business Park

4 Chester Road

Borehamwood

Hertfordshire

WD6 1NA

REGISTERED NUMBER:

04278501 (England and Wales)

ACCOUNTANTS:

RJP LLP

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

FIXED ASSETS

Tangible assets

4

84,491

33,205

Investments

5

68

568

84,559

33,773

CURRENT ASSETS

Stocks

1,114,215

1,151,923

Debtors

6

2,448,397

1,886,228

Cash at bank and in hand

1,018,348

990,221

4,580,960

4,028,372

CREDITORS

Amounts falling due within one year

7

2,347,992

2,039,281

NET CURRENT ASSETS

2,232,968

1,989,091

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,317,527

2,022,864

CREDITORS

Amounts falling due after more than one
year

8

(190,782

)

(267,026

)

PROVISIONS FOR LIABILITIES

(21,123

)

(10,173

)

NET ASSETS

2,105,622

1,745,665

CAPITAL AND RESERVES

Called up share capital

11

100

Retained earnings

2,105,522

1,745,565

SHAREHOLDERS' FUNDS

2,105,622

1,745,665

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 2 October 2025 and were signed on its behalf by:

C P Allen - Director

1.	STATUTORY INFORMATION

Universal Smart Cards 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Preparation of consolidated financial statements

The financial statements contain information about Universal Smart Cards Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents the sale of smart cards and related services, excluding Value Added Tax.

Turnover is recognised in the period the goods are sold and services are provided.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33.33% on cost, 20% on cost and 10% on cost

Stocks

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

Cost is defined as the actual cost of goods to be sold.

Net realisable value is defined as the expected selling price less estimated selling costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 or other future taxable profits.

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.

Leasing commitments

Rentals paid 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.

Investments

Investments in subsidiary undertakings and participating interests are recognised at cost.

Other fixed asset investments are initially recognised at cost and subsequently stated at cost less any accumulated impairment losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 26 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

366,814

Additions

64,426

At 31 December 2024

431,240

DEPRECIATION

At 1 January 2024

333,609

Charge for year

13,140

At 31 December 2024

346,749

NET BOOK VALUE

At 31 December 2024

84,491

At 31 December 2023

33,205

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

11,000

Transfer to ownership

(11,000

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

11,000

Transfer to ownership

(11,000

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	FIXED ASSET INVESTMENTS

Interest

Shares in

in

in other

group

associate

participating

undertakings

interests

Totals

£

COST

At 1 January 2024

68

-

500

568

Disposals

-

(500

)

(500

)

Reclassification

(68

)

68

-

At 31 December 2024

-

68

-

68

NET BOOK VALUE

At 31 December 2024

-

68

-

68

At 31 December 2023

68

-

500

568

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

2,117,859

1,482,536

Amounts owed by group undertakings

216,296

Other debtors

114,242

187,396

2,448,397

1,886,228

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

1,088,617

398,999

Taxation and social security

264,800

291,279

Other creditors

994,575

1,349,003

2,347,992

2,039,281

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

Other creditors

190,782

267,026

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

Within one year

138,777

64,909

Between one and five years

140,559

38,396

279,336

103,305

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Other creditors

267,026

338,862

Charges have been registered over all of the company's assets.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

10,000

Ordinary

£0.01

100

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

Director

Balance outstanding at start of year

(120,378

)

(120,378

)

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(120,378

)

(120,378

)

Director

Balance outstanding at start of year

(119,803

)

(119,803

)

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(119,803

)

(119,803

)

The loans are interest free.