Unique London Design & Build Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Registration number:
Unique London Design & Build Limited
for the Year Ended 31 March 2025
Unique London Design & Build Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Unique London Design & Build Limited
Company Information
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Directors |
LA Dunn I C A Turnbull |
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Registered office |
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Accountants |
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Unique London Design & Build Limited
(Registration number: 10552164)
Statement of Financial Position as at 31 March 2025
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Note |
2025 |
2024 |
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Non-current assets |
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Property, plant and equipment |
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8,958 |
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Current assets |
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Receivables |
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86,541 |
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Cash at bank and in hand |
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364,403 |
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479,791 |
450,944 |
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Payables: Amounts falling due within one year |
(164,706) |
(91,214) |
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Net current assets |
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359,730 |
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Total assets less current liabilities |
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368,688 |
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Payables: Amounts falling due after more than one year |
(4,936) |
(23,604) |
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Provisions for liabilities |
(342) |
(2,240) |
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Net assets |
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342,844 |
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Equity |
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Called up share capital |
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100 |
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Profit and loss account |
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342,744 |
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Total equity |
311,178 |
342,844 |
For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
The financial statements of Unique London Design & Build Limited were approved and authorised for issue by the
.........................................
Director
Unique London Design & Build Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025
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General information |
Unique London Design & Build Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.
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Accounting policies |
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.
Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis in preparing the annual financial statements.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
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.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Revenue recognition
Revenue 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. Revenue 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.
Unique London Design & Build Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)
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2 |
Accounting policies (continued) |
Taxation
The tax expense for the period comprises current and deferred 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or 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.
Property, plant and equipment
Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.
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:
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Asset class |
Depreciation method and rate |
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Motor vehicles |
25% straight line |
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Plant and machinery |
25% straight line |
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.
Receivables
Trade receivables are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade receivables 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 receivables 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.
Unique London Design & Build Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)
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2 |
Accounting policies (continued) |
Payables
Trade payables 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 payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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 income statement 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.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Statement of Financial Position as a finance lease obligation.
Lease payments are apportioned between finance costs in the Income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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.
Unique London Design & Build Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)
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2 |
Accounting policies (continued) |
Financial instruments
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Property, plant and equipment |
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Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost |
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At 1 April 2024 |
- |
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Additions |
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- |
- |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
- |
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Charge for the year |
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- |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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- |
- |
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At 31 March 2024 |
- |
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- |
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Unique London Design & Build Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)
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Receivables |
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2025 |
2024 |
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Trade receivables |
112,633 |
84,913 |
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Prepayments |
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975 |
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Other receivables |
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653 |
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86,541 |
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Payables |
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2025 |
2024 |
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Due within one year |
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Bank loan |
10,896 |
10,643 |
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Directors' loan accounts |
1,744 |
1,729 |
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Finance lease liability |
8,414 |
8,572 |
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Trade payables |
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5,329 |
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Corporation tax |
47,398 |
32,383 |
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Social security and other taxes |
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21,933 |
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Other payables |
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8,730 |
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Accruals |
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1,895 |
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164,706 |
91,214 |
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Due after one year |
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Bank loan |
4,936 |
15,190 |
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Finance lease liability |
- |
8,414 |
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4,936 |
23,604 |
Unique London Design & Build Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2025 (continued)
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Share capital and reserves |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
The company has one class of share capital which carries no right to fixed income.
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
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Related party transactions |
At 31 March 2025 L A Dunn was owed £1,744 by the company (2024: £1,729). The loan is interest free and has no fixed repayment date or repayment schedule.