United Kingdom Lubricants Association Lt - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00936857 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

United Kingdom Lubricants Association

Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

M W Bewsey

N R Bottom

H G Dowding

D B Frogson

A J Goddard

D G Hopkinson

D J Wright

P J F Vickers

H Oosting

P Booth

Mrs J Berryman

K J Duncan

Ms C S Macklam

S Lear

M A Barker

J D Milton

REGISTERED OFFICE:

UKLA House

13 Chess Business Park

Moor Road

Chesham

Buckinghamshire

HP5 1SD

REGISTERED NUMBER:

00936857 (England and Wales)

ACCOUNTANTS:

Danton Partners

7 Merlin Courtyard

Gatehouse Close

Aylesbury

Buckinghamshire

HP19 8DP

FIXED ASSETS

Tangible assets

4

351,770

356,803

Investments

5

100

100

351,870

356,903

CURRENT ASSETS

Debtors

6

81,504

35,237

Prepayments and accrued income

2,142

-

Cash at bank

511,163

473,281

594,809

508,518

CREDITORS

Amounts falling due within one year

7

67,867

39,521

NET CURRENT ASSETS

526,942

468,997

TOTAL ASSETS LESS CURRENT LIABILITIES

878,812

825,900

CREDITORS

Amounts falling due after more than one year

8

180,215

185,894

NET ASSETS

698,597

640,006

RESERVES

Other reserves

10

93,127

79,196

Income and expenditure account

10

605,470

560,810

698,597

640,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 surplus or deficit 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 Board of Directors and authorised for issue on 26 September 2022 and were signed on its behalf by:

A J Goddard - Director

1.	STATUTORY INFORMATION

United Kingdom Lubricants Association Ltd is a private company, limited by guarantee , 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.

Improvements to property

-

10% on cost

Computer equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

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 4 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Computer

property

property

equipment

Totals

£

£

£

£

COST

At 1 January 2021

and 31 December 2021

326,606

50,329

11,355

388,290

DEPRECIATION

At 1 January 2021

-

20,132

11,355

31,487

Charge for year

-

5,033

-

5,033

At 31 December 2021

-

25,165

11,355

36,520

NET BOOK VALUE

At 31 December 2021

326,606

25,164

-

351,770

At 31 December 2020

326,606

30,197

-

356,803

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2021

and 31 December 2021

100

NET BOOK VALUE

At 31 December 2021

100

At 31 December 2020

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

50,002

8,960

VAT

1,579

-

Prepayments

29,923

26,277

81,504

35,237

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts (see note 9)

15,083

15,083

Trade creditors

11,495

5,166

Tax

-

2,400

Social security and other taxes

12,607

97

VAT

-

4,761

Other creditors

(84

)

3,114

Accruals and deferred income

28,766

8,900

67,867

39,521

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans (see note 9)

180,215

185,894

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

119,883

125,562

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.21

31.12.20

£

£

Amounts falling due within one year or on demand:

Bank loans

15,083

15,083

Amounts falling due between two and five years:

Bank loans

60,332

60,332

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

119,883

125,562

10.

RESERVES

Income

and

expenditure

Other

account

reserves

Totals

£

£

£

At 1 January 2021

560,810

79,196

640,006

Surplus for the year

58,591

58,591

Metalworking fund

(13,931

)

13,931

-

At 31 December 2021

605,470

93,127

698,597

11.	RELATED PARTY DISCLOSURES

During the year, the company provided services to its wholly-owned subsidiary, the Verification of Lubricant Specifications (UK) Ltd (VLS), totalling £20,225 (2020: £25,323).

The amount owed to the company from VLS at the year end amounted to £24,270 (2020 : £6,118).

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2021 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Danton Partners

7 Merlin Courtyard

Gatehouse Close

Aylesbury

Buckinghamshire

HP19 8DP

26 September 2022