Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Financial Statements of
Universal Impex Limited
for the Year Ended 31 December 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Universal Impex Limited for the year ended 31 December 2025 which comprise the statement of comprehensive income, balance sheet and the related notes, 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 https://www.icaew.com/regulation/a-z.

It is your duty to ensure that Universal Impex 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 loss of Universal Impex Limited. You consider that Universal Impex 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 financial statements of Universal Impex 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.

Use of our report

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

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

KSEG
Chartered Accountants
Belfry House
Champions Way
Hendon
London
NW4 1PX

15 June 2026

Universal Impex Limited

(Registration number: 00948957)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed asset
Tangible assets	4	6,632	8,118
Current assets
Debtors	5	1,859,224	1,222,103
Cash at bank and in hand		138,882	823,425
		1,998,106	2,045,528
Creditors: Amounts falling due within one year	6	(417,745)	(131,829)
Net current assets		1,580,361	1,913,699
Total assets less current liabilities		1,586,993	1,921,817
Creditors: Amounts falling due after more than one year	6	(100,000)	(300,000)
Net assets		1,486,993	1,621,817
Capital and reserves
Called up share capital	7	1,080,100	1,080,100
Profit and loss account		406,893	541,717
Shareholders' funds		1,486,993	1,621,817

For the financial year ended 31 December 2025 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The statement of comprehensive income and the directors' report are not delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised for issue by the Board on 12 June 2026 and signed on its behalf by:
 

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

K K Chandaria
Director

Universal Impex Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England. The registered office address is shown on page 1.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except where otherwise disclosed in these accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Summary of significant 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.

Turnover

Turnover in the prior year represents net confirming commission, interest receivable and management charges from customers, excluding value added tax. Associated expenses such as bank charges, postage etc are also recovered from customers and included in turnover.

Commission income earned from confirming transactions is recognised when invoice is raised and credit is availed.

Interest receivable is recognised over the period of the agreed credit terms.

Foreign currency transactions and balances

Foreign currency transactions are translated at the rates ruling when they occurred unless the average rate for the period approximate to the actual rate, in which case the average rate is used. Foreign currency monetary assets and liabilities are translated at the rates ruling at the balance sheet date. Any differences are taken to profit or loss.

Tax

The tax expense for the year comprises current and where applicable, deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Universal Impex Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

2	Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against suitable future taxable profits.

Deferred tax is measured using 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.

Current and deferred tax assets and liabilities are not discounted.

Tangible assets

Tangible assets are stated in the balance sheet at historical cost, less any subsequent accumulated depreciation and 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, evenly over their expected useful lives as follows:

Asset class	Depreciation rate and method
Furniture and fittings	15% reducing balance basis
Computer equipment	33.33% straight line basis
Motor vehicles	25% reducing balance basis

Cash at bank and in hand

This comprises cash at bank.

Financial instruments

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual arrangements, rather than its legal form.
 
The company's cash at bank and in hand, trade and other debtors and trade and other creditors are measured initially at transaction price, and subsequently at amortised cost using the effective interest method, where appropriate.

Trade debtors

Trade debtors are amounts due from customers for services provided in the ordinary course of business.

A provision for the impairment of trade debtors is made 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 and services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Universal Impex Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

2	Accounting policies (continued)

Operating leases

Rentals payable and receivable under operating leases are charged and credited to profit or loss on a straight line basis over the period of the lease.

Dividends

Final equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.

Pensions

Contributions payable by the company to private pension schemes of its employees and directors are charged to profit or loss in the year to which they relate.

3	Employee information

The average number of persons employed by the company (including directors) during the year was 5 (2024 - 6).

4	Tangible assets

	Furniture and fittings  £	Motor vehicles  £	Computer equipment £	Total £
Cost or valuation
At 1 January 2025	91,545	12,950	95,617	200,112
Additions in the year	-	-	1,199	1,199
At 31 December 2025	91,545	12,950	96,816	201,311
Depreciation
At 1 January 2025	86,275	12,541	93,178	191,994
Charge for the year	791	102	1,792	2,685
At 31 December 2025	87,066	12,643	94,970	194,679
Carrying amount
At 31 December 2025	4,479	307	1,846	6,632
At 31 December 2024	5,270	409	2,439	8,118

Universal Impex Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5

Debtors

	Note	2025 £	2024 £
Trade debtors		12,617	2,592
Directors' current account	9	565	-
Loans		1,830,279	1,200,000
Corporation tax refund		-	2,053
Other debtors		-	1,763
Prepayments		9,943	10,383
Accrued income		5,820	5,312
		1,859,224	1,222,103

Loans include £150,000, (2024 - £1,000,000) due after more than one year.

6

Creditors

Creditors: amounts due within one year	2025 £	2024 £
Other loans	300,000	-
Trade creditors	56,487	55,082
Directors current account	-	25,033
Other creditors	26,870	27,399
Accruals and deferred income	26,851	24,315
Taxation and social security	7,537	-
	417,745	131,829