ACCOUNTS - Final Accounts

Registered number: 03556922

UKEE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021


UKEE LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 6


UKEE LIMITED REGISTERED NUMBER:03556922

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2021

		2021		2020
Note		£		£

Fixed assets
Tangible assets	4		134,155		138,690
Investments	5		102		102
			134,257		138,792
Current assets
Debtors: amounts falling due within one year	6	-		544,967
Cash at bank and in hand		43,007		82,755
		43,007		627,722
Current liabilities
Creditors: amounts falling due within one year	7	(3,813)		(541,252)
Net current assets			39,194		86,470

Net assets			173,451		225,262

Capital and reserves
Called up share capital	8	2	2
Profit and loss account		173,449	225,260
		173,451	225,262

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1


UKEE LIMITED REGISTERED NUMBER:03556922

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2021

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2021.

D L Brown

Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2


UKEE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1.	General information

UKEE Limited is a private limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the company continued to be that of property development.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives.

Depreciation is provided on the following basis:

Short term leasehold property

over the period of the lease

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

2.4

Valuation of investments

Investments in subsidiaries, associates and joint ventures are measured at cost less accumulated impairment.

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UKEE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

2.5

Basic financial instruments

The company only enters into transactions that result in the recognition of basic financial assets and basic financial liabilities.
Basic financial assets, such as trade and other debtors, are initially recognised at the transaction price less attributable transaction costs. Basic financial liabilities, such as trade and other creditors, are initially recognised at the transaction price plus attributable transaction costs. Subsequently, they are measured at amortised cost using the effective interest method, less any impairment losses in the case of basic financial assets.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.6

Dividends

Equity dividends are recognised when they become legally payable.

2.7

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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.

Employees

The average monthly number of employees, including directors, during the year was 3 (2020 -3).

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UKEE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

4.	Tangible fixed assets

		Short term leasehold property
		£
	Cost
	At 1 April 2020	195,000
	At 31 March 2021	195,000
	Depreciation
	At 1 April 2020	56,310
	Charge for the year on owned assets	4,535
	At 31 March 2021	60,845
	Net book value
	At 31 March 2021	134,155
	At 31 March 2020	138,690

5.	Fixed asset investments

	Investments in subsidiary companies	Investment in joint ventures	Total
	£	£	£
Cost
At 1 April 2020	100	2	102
At 31 March 2021	100	2	102

Debtors

					2021	2020
					£	£


Amounts owed by joint ventures and associated undertakings	-	544,967
	-	544,967

Page 5


UKEE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

7.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Amounts owed to group undertakings	-	447,452
Other creditors	2	89,990
Accruals and deferred income	3,811	3,810
	3,813	541,252

8.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

2 Ordinary shares of £1 each	2	2

9.	Parent undertaking

The ultimate parent company is Equity Estates (Pty) Limited, a company registered in South Africa.

Page 6