UEA Ltd - Period Ending 2021-12-31

UEA Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 6

UEA Ltd

Company Information

Directors

Mr A J Shaw Mr M Patel

Registered office

107 The Avenue London N17 6TE

Accountants

EKWilliams Accountants Limited 1 Pavilion Square Westhoughton Bolton BL5 3AJ

UEA Ltd

(Registration number: 11703094)
Balance Sheet as at 31 December 2021

	Note	2021 £	2020 £
Current assets
Debtors	4	120	2
Cash at bank and in hand		51,796	7,570
		51,916	7,572
Creditors: Amounts falling due within one year	5	(6,949)	(7,066)
Total assets less current liabilities		44,967	506
Creditors: Amounts falling due after more than one year	5	(45,000)	-
Net (liabilities)/assets		(33)	506
Capital and reserves
Called up share capital		2	2
Profit and loss account		(35)	504
Shareholders' (deficit)/funds		(33)	506

UEA Ltd

(Registration number: 11703094)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 15 June 2022 and signed on its behalf by:
 

......................................... Mr A J Shaw Director

......................................... Mr M Patel Director

UEA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
107 The Avenue
London
N17 6TE
England

These financial statements were authorised for issue by the Board on 15 June 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

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.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the shareholders that they will continue to give financial support to the company for twelve months from the date of signing these accounts.

On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above may not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustments to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

Revenue recognition

Turnover 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. Turnover 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.

UEA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Tax

The tax expense for the period comprises current 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.

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 Profit and Loss Account 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

4

Debtors

	2021 £	2020 £
Other debtors	120	2
	120	2

UEA Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

5

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Taxation and social security	-	118
Accruals and deferred income	360	360
Other creditors	6,589	6,588
	6,949	7,066

Creditors: amounts falling due after more than one year

	Note	2021 £	2020 £
Due after one year
Loans and borrowings	6	45,000	-

6	Loans and borrowings

	2021 £	2020 £
Non-current loans and borrowings
Bank borrowings	45,000	-