UKLD Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08526284 (England and Wales)

Unaudited Financial Statements

for the Period 1 September 2020 to 30 August 2021

for

UKLD Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

D R Le Neveu

R Lal

REGISTERED OFFICE:

Brook House

Moss Grove

Kingswinford

West Midlands

DY6 9HS

REGISTERED NUMBER:

08526284 (England and Wales)

ACCOUNTANTS:

Wilkes Tranter & Co Limited

Brook House

Moss Grove

Kingswinford

West Midlands

DY6 9HS

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 Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of UKLD Limited for the period ended 30 August 2021 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of UKLD Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of UKLD Limited and state those matters that we have agreed to state to the Board of Directors of UKLD Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than UKLD Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that UKLD Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of UKLD Limited. You consider that UKLD Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of UKLD Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wilkes Tranter & Co Limited

Brook House

Moss Grove

Kingswinford

West Midlands

DY6 9HS

19 January 2023

FIXED ASSETS

Tangible assets

4

59,201

82,660

Investments

5

100

100

59,301

82,760

CURRENT ASSETS

Stocks

5,204,600

5,675,644

Debtors

6

4,648,536

6,002,087

Cash at bank and in hand

672,635

17,853

10,525,771

11,695,584

CREDITORS

Amounts falling due within one year

7

(8,506,927

)

(8,200,255

)

NET CURRENT ASSETS

2,018,844

3,495,329

TOTAL ASSETS LESS CURRENT LIABILITIES

2,078,145

3,578,089

CREDITORS

Amounts falling due after more than one year

8

(4,525,000

)

(4,525,000

)

PROVISIONS FOR LIABILITIES

(11,248

)

(15,705

)

NET LIABILITIES

(2,458,103

)

(962,616

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(2,458,203

)

(962,716

)

(2,458,103

)

(962,616

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 August 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 August 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2023 and were signed on its behalf by:

D R Le Neveu - Director

1.	STATUTORY INFORMATION

UKLD 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.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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 Profit and Loss Account, 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.

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.

Going concern

At 30 August 2021 there was a deficiency of assets of £2,458,103. The company is dependent upon the continued financial support of its creditors. It is understood that this support will continue. On this basis the directors' consider it appropriate to prepare financial statements on a going concern basis. These financial statements do not include any adjustments which would arise if the accounts had not been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2020 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 September 2020

51,138

90,425

27,540

169,103

Additions

-

7,217

-

7,217

Disposals

-

-

(27,540

)

(27,540

)

At 30 August 2021

51,138

97,642

-

148,780

DEPRECIATION

At 1 September 2020

26,731

44,058

15,654

86,443

Charge for period

6,102

12,688

-

18,790

Eliminated on disposal

-

-

(15,654

)

(15,654

)

At 30 August 2021

32,833

56,746

-

89,579

NET BOOK VALUE

At 30 August 2021

18,305

40,896

-

59,201

At 31 August 2020

24,407

46,367

11,886

82,660

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2020

and 30 August 2021

100

NET BOOK VALUE

At 30 August 2021

100

At 31 August 2020

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

39,159

169,601

Amounts owed by group undertakings

4,517,613

5,772,598

Other debtors

91,764

59,888

4,648,536

6,002,087

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

113,770

88,265

Amounts owed to group undertakings

1,558,789

803,345

Taxation and social security

70,578

260,829

Other creditors

6,763,790

7,047,816

8,506,927

8,200,255

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Other creditors

4,525,000

4,525,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made a loan to the directors. The loan was unsecured and repayable on demand. Interest was charged at the official rate of interest. At 30 August 2021 the amount outstanding was £13,806.

10.	ULTIMATE CONTROLLING PARTY

The company is a subsidiary of St Philips Land Ltd, which is registered at Brook House, Moss Grove, Kingswinford, West Midlands, DY6 9HS. The ultimate controlling party is St Philips Ltd, which is registered at Brook House, Moss Grove, Kingswinford, West Midlands, DY6 9HS.