Ublo Distribution Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08723763 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

FOR

UBLO DISTRIBUTION LTD

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

Mr R Knowles

REGISTERED OFFICE:

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

REGISTERED NUMBER:

08723763 (England and Wales)

ACCOUNTANTS:

E R Grove & Co Limited

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

The following reproduces the text of the report prepared for the director 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 Report of the Director 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 Ublo Distribution Ltd for the year ended 31 October 2022 which comprise the Income Statement, 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 director of Ublo Distribution Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ublo Distribution Ltd and state those matters that we have agreed to state to the director of Ublo Distribution Ltd 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 Ublo Distribution Ltd and its director for our work or for this report.

It is your duty to ensure that Ublo Distribution Ltd 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 profit of Ublo Distribution Ltd. You consider that Ublo Distribution Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ublo Distribution Ltd. 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.

E R Grove & Co Limited

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

25 July 2023

FIXED ASSETS

Tangible assets

4

92

123

CURRENT ASSETS

Stocks

1,400

1,666

Debtors

5

46,885

41,476

48,285

43,142

CREDITORS

Amounts falling due within one year

6

17,676

15,560

NET CURRENT ASSETS

30,609

27,582

TOTAL ASSETS LESS CURRENT LIABILITIES

30,701

27,705

CREDITORS

Amounts falling due after more than one year

7

(11,525

)

(15,654

)

PROVISIONS FOR LIABILITIES

(17

)

(23

)

NET ASSETS

19,159

12,028

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

18,959

11,828

SHAREHOLDERS' FUNDS

19,159

12,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 25 July 2023 and were signed by:

Mr R Knowles - Director

1.	STATUTORY INFORMATION

Ublo Distribution Ltd 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.

On 30 January 2020, COVID-19 was declared a public health emergency by the World Health Organisation. As with most businesses, the company has been affected by COVID-19 and has taken advantage of the financial assistance provided by the Government. The director has confirmed their continued support and consider that the company has sufficient working capital to continue trading for the foreseeable future.

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.

Computer equipment

-

25% on reducing balance

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 year 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 year 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 November 2021

and 31 October 2022

390

DEPRECIATION

At 1 November 2021

267

Charge for year

31

At 31 October 2022

298

NET BOOK VALUE

At 31 October 2022

92

At 31 October 2021

123

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

81

904

Other debtors

46,804

40,572

46,885

41,476

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

4,191

4,053

Trade creditors

1

1

Taxation and social security

10,259

7,243

Other creditors

3,225

4,263

17,676

15,560

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

11,525

15,654

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2022 and 31 October 2021:

2022

2021

£

£

Mr R Knowles

Balance outstanding at start of year

-

6,427

Amounts advanced

-

909

Amounts repaid

-

(7,336

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,700 were paid to the director .

2022

2021

£

£

Amounts due from associated companies

46,789

40,572

Associated companies are companies under common control with the director. None of the above balances are held under normal commercial terms and bear no interest.