Unique Stove Products Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04682056 (England and Wales)

Unaudited Financial Statements

for the Period 1 October 2021 to 31 December 2021

for

Unique Stove Products Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Godfrey

M Wadge

REGISTERED OFFICE:

298 Queensway

Scunthorpe

North Lincolnshire

DN16 3RT

REGISTERED NUMBER:

04682056 (England and Wales)

FIXED ASSETS

Intangible assets

4

395

791

Tangible assets

5

74

78

469

869

CURRENT ASSETS

Stocks

10,000

80,000

Debtors

6

15,989

2,086

Cash at bank

-

947

25,989

83,033

CREDITORS

Amounts falling due within one year

7

28,638

510,152

NET CURRENT LIABILITIES

(2,649

)

(427,119

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,180

)

(426,250

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(2,280

)

(426,350

)

SHAREHOLDERS' FUNDS

(2,180

)

(426,250

)

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

The members have not required the company to obtain an audit of its financial statements for the period 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 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 Board of Directors and authorised for issue on 17 February 2022 and were signed on its behalf by:

M Wadge - Director

1.	STATUTORY INFORMATION

Unique Stove Products Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Website is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period 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 period 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2021 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

Website

Totals

£

£

£

COST

At 1 October 2021

and 31 December 2021

17,565

9,020

26,585

AMORTISATION

At 1 October 2021

16,774

9,020

25,794

Amortisation for period

396

-

396

At 31 December 2021

17,170

9,020

26,190

NET BOOK VALUE

At 31 December 2021

395

-

395

At 30 September 2021

791

-

791

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 October 2021

7,458

1,631

9,089

Disposals

-

(1,631

)

(1,631

)

At 31 December 2021

7,458

-

7,458

DEPRECIATION

At 1 October 2021

7,380

1,631

9,011

Charge for period

4

-

4

Eliminated on disposal

-

(1,631

)

(1,631

)

At 31 December 2021

7,384

-

7,384

NET BOOK VALUE

At 31 December 2021

74

-

74

At 30 September 2021

78

-

78

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

30.9.21

£

£

Trade debtors

1,268

1,875

Other debtors

14,721

211

15,989

2,086

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

30.9.21

£

£

Bank loans and overdrafts

92

-

Trade creditors

9,828

322,632

Taxation and social security

16,872

-

Other creditors

1,846

187,520

28,638

510,152

8.	RELATED PARTY DISCLOSURES

31.12.21

30.9.21

£

£

Expenses recharged by related parties

3,317

10,458

Amounts owing to related parties included in trade creditors

-

308,266

Loans owing to related parties

-

179,825

Sales made to related parties

67,079

-

Amounts owing from related parties included in other debtors

14,561

-

The related party referred to above is a company in which Mr M J Godfrey is also a director.

9.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.