Unity Chesterfield Ltd 31/05/2022 iXBRL

Unity Chesterfield Ltd 31/05/2022 iXBRL

UNITY CHESTERFIELD LTD - Company Information

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58 31/05/2022 2022-05-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-06-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 11454447 2021-06-01 2022-05-31 11454447 2022-05-31 11454447 2021-05-31 11454447 2020-06-01 2021-05-31 11454447 2021-05-31 11454447 core:FurnitureFittingsToolsEquipment 2021-06-01 2022-05-31 11454447 bus:RegisteredOffice 2021-06-01 2022-05-31 11454447 bus:LeadAgentIfApplicable 2021-06-01 2022-05-31 11454447 bus:Director1 2021-06-01 2022-05-31 11454447 bus:Director2 2021-06-01 2022-05-31 11454447 core:FurnitureFittingsToolsEquipment 2021-05-31 11454447 core:LandBuildings core:ShortLeaseholdAssets 2022-05-31 11454447 core:FurnitureFittingsToolsEquipment 2022-05-31 11454447 core:WithinOneYear 2022-05-31 11454447 core:WithinOneYear 2021-05-31 11454447 core:ShareCapital 2022-05-31 11454447 core:ShareCapital 2021-05-31 11454447 core:RetainedEarningsAccumulatedLosses 2022-05-31 11454447 core:RetainedEarningsAccumulatedLosses 2021-05-31 11454447 core:LandBuildings core:ShortLeaseholdAssets 2021-05-31 11454447 core:FurnitureFittingsToolsEquipment 2021-05-31 11454447 bus:Director1 2022-05-31 11454447 bus:Director2 2022-05-31 11454447 bus:SmallEntities 2021-06-01 2022-05-31 11454447 bus:AuditExempt-NoAccountantsReport 2021-06-01 2022-05-31 11454447 bus:FullAccounts 2021-06-01 2022-05-31 11454447 bus:SmallCompaniesRegimeForAccounts 2021-06-01 2022-05-31 11454447 bus:PrivateLimitedCompanyLtd 2021-06-01 2022-05-31 11454447 core:LandBuildings core:OwnedOrFreeholdAssets 2021-06-01 2022-05-31
Company registration number: 11454447
Unity Chesterfield Ltd
Unaudited filleted financial statements
31 May 2022
Unity Chesterfield Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Unity Chesterfield Ltd
Directors and other information
Directors William Muirhead
Mohammed Shabaz Riaz
Company number 11454447
Registered office 10 Cliff Parade
Wakefield
West Yorkshire
WF1 2TA
Accountants Andrew Wright & Co Limited
10 Cliff Parade
Wakefield
West Yorkshire
WF1 2TA
Unity Chesterfield Ltd
Statement of financial position
31 May 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 128,483 131,727
_______ _______
128,483 131,727
Current assets
Stocks 21,635 3,200
Debtors 6 44,499 26,927
Cash at bank and in hand 52,023 22,469
_______ _______
118,157 52,596
Creditors: amounts falling due
within one year 7 ( 225,049) ( 179,370)
_______ _______
Net current liabilities ( 106,892) ( 126,774)
_______ _______
Total assets less current liabilities 21,591 4,953
_______ _______
Net assets 21,591 4,953
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 21,491 4,853
_______ _______
Shareholders funds 21,591 4,953
_______ _______
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 February 2023 , and are signed on behalf of the board by:
Mohammed Shabaz Riaz
Director
Company registration number: 11454447
Unity Chesterfield Ltd
Notes to the financial statements
Year ended 31 May 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Cliff Parade, Wakefield, West Yorkshire, WF1 2TA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Freehold property - Stated at cost
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 58 (2021: 16 ).
5. Tangible assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 June 2021 and 31 May 2022 118,750 29,912 148,662
_______ _______ _______
Depreciation
At 1 June 2021 - 16,935 16,935
Charge for the year - 3,244 3,244
_______ _______ _______
At 31 May 2022 - 20,179 20,179
_______ _______ _______
Carrying amount
At 31 May 2022 118,750 9,733 128,483
_______ _______ _______
At 31 May 2021 118,750 12,977 131,727
_______ _______ _______
6. Debtors
2022 2021
£ £
Other debtors 44,499 26,927
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 48,039 50,000
Trade creditors 64,323 21,876
Corporation tax 19,200 -
Social security and other taxes 18,309 17,210
Other creditors 75,178 90,284
_______ _______
225,049 179,370
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Amounts repaid Balance o/standing
£ £ £
William Muirhead - ( 6,000) ( 6,000)
Mohammed Shabaz Riaz - ( 1,200) ( 1,200)
_______ _______ _______
- ( 7,200) ( 7,200)
_______ _______ _______
2021
Balance brought forward Amounts repaid Balance o/standing
£ £ £
William Muirhead - - -
Mohammed Shabaz Riaz - - -
_______ _______ _______