Universal Smart Cards Limited Filleted accounts for Companies House (small and micro)
Universal Smart Cards Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
04278501
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FOR THE YEAR ENDED |
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BALANCE SHEET |
2021 |
2020 |
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Note |
£ |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Investments |
6 |
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------- |
------- |
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Current assets
Stocks |
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Debtors |
7 |
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Cash at bank and in hand |
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----------- |
----------- |
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Creditors: amounts falling due within one year |
8 |
(
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(
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----------- |
----------- |
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Net current assets |
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----------- |
----------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
9 |
(
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(
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Provisions
Taxation including deferred tax |
(
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(
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----------- |
----------- |
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Net assets |
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Capital and reserves
Called up share capital |
10 |
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Profit and loss account |
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----------- |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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BALANCE SHEET (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
12 December 2022
, and are signed on behalf of the board by:
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Director |
Director |
Company registration number:
04278501
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NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 31 DECEMBER 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 9 Devonshire Business Park, 4 Chester Road, Borehamwood, Hertfordshire, WD6 1NA.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Employee benefit trusts
The company has established trusts for the benefit of employees and certain of their dependents. Monies held in these trusts are held by independent trustees and managed at their discretion.
Where the company retains future economic benefit from, and has de facto control of, the assets and liabilities of the trust they are accounted for as assets and liabilities of the company until the earlier date that an allocation of trust funds to employees in respect of past services is declared and the date that assets of the trust vest in identified individuals.
Where monies held in a trust are determined by the company on the basis of employee's past services to the business and the company can obtain no future economic benefit from those monies, such monies, whether in the trust or accrued for by the company, are charged to the profit and loss account in the period to which they relate.
Going concern
Fixed asset investments
Fixed asset investments are stated at cost less provision for impairment.
Consolidation
Revenue recognition
Income tax
Foreign currencies
Operating leases
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery |
- |
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Fixtures & Fittings |
- |
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Computer Equipment |
- |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Impairment of fixed assets
Stocks
Finance leases and hire purchase contracts
Government grants
Financial instruments
Defined contribution plans
Share-based payments
Employee benefits
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Distributions to equity holders
Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
23
(2020:
26
).
5.
Tangible assets
Plant and machinery |
Fixtures and fittings |
Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 January 2021 |
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Additions |
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– |
– |
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Disposals |
– |
– |
(
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(
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-------- |
------- |
------- |
-------- |
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At 31 December 2021 |
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-------- |
------- |
------- |
-------- |
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Depreciation |
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At 1 January 2021 |
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Charge for the year |
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Disposals |
– |
– |
(
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(
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-------- |
------- |
------- |
-------- |
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At 31 December 2021 |
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-------- |
------- |
------- |
-------- |
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Carrying amount |
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At 31 December 2021 |
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– |
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-------- |
------- |
------- |
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At 31 December 2020 |
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-------- |
------- |
------- |
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6.
Investments
Shares in group undertakings |
Shares in participating interests |
Other investments other than loans |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 January 2021 and 31 December 2021 |
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---- |
---- |
-------- |
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Impairment |
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At 1 January 2021 and 31 December 2021 |
– |
– |
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---- |
---- |
-------- |
-------- |
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Carrying amount |
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At 31 December 2021 |
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---- |
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-------- |
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At 31 December 2020 |
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---- |
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Included in other investments is monies held by an Employee Benefit Trust at a net value of £3,200 (2020:£3,200). This investment is not available to the company.
Included in other investments is £2,680 which are annuity contracts purchased from the directors, these are shown at cost less any impairment losses.
Loans to group undertakings are £216,062 (2020: £216,062).
Loans to undertakings in which the company has a participating interest are £81,296 (2020: £79,346).
7.
Debtors
2021 |
2020 |
|
£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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----------- |
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8.
Creditors:
amounts falling due within one year
2021 |
2020 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other loans |
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Other creditors |
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----------- |
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9.
Creditors:
amounts falling due after more than one year
2021 |
2020 |
|
£ |
£ |
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Bank loans and overdrafts |
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Other creditors |
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-------- |
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10.
Called up share capital
Issued, called up and fully paid
2021 |
2020 |
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No. |
£ |
No. |
£ |
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|
100 |
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100 |
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11.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2021 |
2020 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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