Unique Renewables Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC457910 (Scotland)

Unique Renewables Limited

Financial Statements

for the Year Ended 31st August 2019

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

to

4

Director:

M J Woodcock

Registered office:

62 Bennecourt Drive

Coldstream

Berwickshire

TD12 4BY

Registered number:

SC457910 (Scotland)

Accountants:

Rennie Welch LLP

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Current assets

Debtors

4

261

409

Cash at bank

264

2,213

525

2,622

Creditors

Amounts falling due within one year

5

117,677

118,406

Net current liabilities

(117,152

)

(115,784

)

Total assets less current liabilities

(117,152

)

(115,784

)

Capital and reserves

Called up share capital

100

100

Retained earnings

(117,252

)

(115,884

)

Shareholders' funds

(117,152

)

(115,784

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th August 2020 and were signed by:

M J Woodcock - Director

1.	Statutory information

Unique Renewables Limited is a private company, limited by shares , registered in Scotland. 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 represents the total invoice value, excluding value added tax of sales invoiced during the

year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of

ownership have passed to the buyer. Turnover arising from the provision of services is recognised as

contract activity progresses and the right to consideration is earned.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade creditors, accruals and

other loans.

Other loans (being repayable on demand), trade creditors and accruals are measured at the

undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at 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 the Statement of Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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.

Going concern

The company has a deficit on the balance sheet, however most of the long term funding for the

company is by way of a loan from a related party. The related party has made a commitment not to

seek repayment of the loan within the foreseeable future. The director is confident that the company

will trade out of its current difficulties.

3.	Employees and directors

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

4.

Debtors: amounts falling due within one year

2019

2018

£

£

Other debtors

261

409

5.

Creditors: amounts falling due within one year

2019

2018

£

£

Trade creditors

1,200

2,185

Other creditors

116,477

116,221

117,677

118,406