Universal Umvelt Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07818972 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

FOR

UNIVERSAL UMVELT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N Crighton

Mrs S Crighton

REGISTERED OFFICE:

30 - 34 North Street

Hailsham

East Sussex

BN27 3XE

REGISTERED NUMBER:

07818972 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

20,018

24,155

CURRENT ASSETS

Cash at bank

205,960

241,147

CREDITORS

Amounts falling due within one year

5

(11,566

)

(21,556

)

NET CURRENT ASSETS

194,394

219,591

TOTAL ASSETS LESS CURRENT LIABILITIES

214,412

243,746

CREDITORS

Amounts falling due after more than one year

6

(8,878

)

(13,766

)

NET ASSETS

205,534

229,980

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

205,434

229,880

SHAREHOLDERS' FUNDS

205,534

229,980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 5 March 2020 and were signed on its behalf by:

N Crighton - Director

1.	STATUTORY INFORMATION

Universal Umvelt Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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.

Fixtures and fittings

-

33% on cost

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable, loans from banks

and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and

subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or

received; other debt instruments are initially measured at present value of the future payments and

subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each

reporting period for objective evidence of impairment. If objective evidence of impairment is found, an

impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when

there is an enforceable right to set off the recognised amounts and there is an intention to settle on a

net basis or to realise the asset and settle the liability simultaneously.

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

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 November 2018

4,540

30,424

34,964

Additions

1,842

-

1,842

At 31 October 2019

6,382

30,424

36,806

DEPRECIATION

At 1 November 2018

2,728

8,081

10,809

Charge for year

393

5,586

5,979

At 31 October 2019

3,121

13,667

16,788

NET BOOK VALUE

At 31 October 2019

3,261

16,757

20,018

At 31 October 2018

1,812

22,343

24,155

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

Motor

vehicles

£

COST

At 1 November 2018

and 31 October 2019

30,424

DEPRECIATION

At 1 November 2018

8,081

Charge for year

5,586

At 31 October 2019

13,667

NET BOOK VALUE

At 31 October 2019

16,757

At 31 October 2018

22,343

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

4,888

4,888

Taxation and social security

2,400

2,600

Other creditors

4,278

14,068

11,566

21,556

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts

8,878

13,766

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

51

Ordinary A

£1

51

51

49

Ordinary B

£1

49

49

100

100

8.	ULTIMATE CONTROLLING PARTY

During the current period the company was under the control of N Crighton, a director and majority

shareholder of the company.