UNIEC_PRESTIGE_LIMITED - Accounts

UNIEC PRESTIGE LIMITED - Company Information

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Company Registration No. 07469865 (England and Wales)

UNIEC PRESTIGE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

UNIEC PRESTIGE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

UNIEC PRESTIGE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

13,828

1,573

Current assets

Debtors

8,300

1,537

Cash at bank and in hand

17,174

13,829

25,474

15,366

Creditors: amounts falling due within one year

(39,037)

(16,526)

Net current liabilities

(13,563)

(1,160)

Total assets less current liabilities

265

413

Capital and reserves

Called up share capital

200

Profit and loss account

213

Shareholders' funds

265

413

For the financial Year ended 31 December 2015 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 2 September 2016

E Gorman

Director

Company Registration No. 07469865

UNIEC PRESTIGE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

33.3% straight line

Fixed assets

Tangible assets

Cost

At 1 January 2015

3,142

Additions

19,763

At 31 December 2015

22,905

Depreciation

At 1 January 2015

1,568

Charge for the period

7,509

At 31 December 2015

9,077

Net book value

At 31 December 2015

13,828

At 31 December 2014

1,573

UNIEC PRESTIGE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary of £1 each

100

75 Ordinary A of £1 each

10 Ordinary B of £1 each

10 Ordinary C of £1 each

5 Ordinary D of £1 each

200

Ultimate parent company

The ultimate controlling party is E Gorman, by virtue of her shareholding.

Related party transactions

Included in other debtors is an amount of £1,337 (2013: £116 ) due from the director, E Gorman. This amount is interest free and repayable on demand.

Also included in other creditors is an amount of £6,503 (2013: £12,124 other debtors) owed to Uniec Financial Solutions Limited, a company associated with Uniec Prestige Limited. During the year ended 31 December 2014, Uniec Prestige Limited paid commissions of £46,000 (2013: £70,000) to Uniec Financial Solutions Limited, expenses of £9,456 (2013 £12,033) on behalf of Uniec Financial Solutions Limited and management charges of £28,083 (2013:£17,500).

Included in commissions paid was £2,427 (2013: £33,538) to I Chambers, former director and shareholder, and £75,309 (2013: £73,077) to C Botterill a shareholder.