Universal Construction (Midlands) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06422645 (England and Wales)

Financial Statements for the Year Ended 30 November 2019

for

Universal Construction (Midlands) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

K Singh

REGISTERED OFFICE:

48 Felstead Way

Luton

Bedfordshire

LU2 7LH

REGISTERED NUMBER:

06422645 (England and Wales)

ACCOUNTANTS:

NSG Accountants Limited

Chartered Certified Accountants

48 Felstead Way

Luton

Bedfordshire

LU2 7LH

FIXED ASSETS

Tangible assets

4

7,932

9,526

CURRENT ASSETS

Debtors

5

24,824

76,752

Cash at bank

189,226

37,558

214,050

114,310

CREDITORS

Amounts falling due within one year

6

168,155

45,028

NET CURRENT ASSETS

45,895

69,282

TOTAL ASSETS LESS CURRENT LIABILITIES

53,827

78,808

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

53,826

78,807

SHAREHOLDERS' FUNDS

53,827

78,808

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 November 2020 and were signed by:

K Singh - Director

1.	STATUTORY INFORMATION

Universal Construction (Midlands) 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.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 December 2018

48,080

2,217

50,297

Additions

-

900

900

At 30 November 2019

48,080

3,117

51,197

DEPRECIATION

At 1 December 2018

38,555

2,216

40,771

Charge for year

2,269

225

2,494

At 30 November 2019

40,824

2,441

43,265

NET BOOK VALUE

At 30 November 2019

7,256

676

7,932

At 30 November 2018

9,525

1

9,526

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

Motor

vehicles

£

COST

At 1 December 2018

and 30 November 2019

13,906

DEPRECIATION

At 1 December 2018

10,973

Charge for year

733

At 30 November 2019

11,706

NET BOOK VALUE

At 30 November 2019

2,200

At 30 November 2018

2,933

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Trade debtors

9,108

41,204

CIS Tax Recoverable

15,716

35,548

24,824

76,752

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Hire purchase contracts

-

1,000

Trade creditors

63,015

8,658

Tax

-

5,084

VAT

3,757

14,930

Other creditors

-

8,688

Amounts owed to related companies

95,000

-

Directors' current accounts

944

4,255

Accrued expenses

5,439

2,413

168,155

45,028