Unique Asset Management Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07468343 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

UNIQUE ASSET MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Rose

REGISTERED OFFICE:

4A Kingfisher Court

Brambleside

Bellbrook Business Park

Uckfield

East Sussex

TN22 1QQ

REGISTERED NUMBER:

07468343 (England and Wales)

ACCOUNTANTS:

Acuity Professional (Uckfield) LLP

4A Kingfisher Court

Brambleside

Bellbrook Business Park

Uckfield

East Sussex

TN22 1QQ

FIXED ASSETS

Intangible assets

4

2,664

3,864

Tangible assets

5

1,186

-

Investment property

6

100,601

100,601

104,451

104,465

CURRENT ASSETS

Cash at bank and in hand

161

732

CREDITORS

Amounts falling due within one year

7

36,301

36,906

NET CURRENT LIABILITIES

(36,140

)

(36,174

)

TOTAL ASSETS LESS CURRENT LIABILITIES

68,311

68,291

CREDITORS

Amounts falling due after more than one year

8

65,000

65,000

NET ASSETS

3,311

3,291

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

3,211

3,191

SHAREHOLDERS' FUNDS

3,311

3,291

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 22 March 2018 and were signed by:

P Rose - Director

1.	STATUTORY INFORMATION

Unique Asset Management 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 Sterling (£), rounded to the nearest whole Pound.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in conformity with FRS 102 section 1A requires the use of certain critical

accounting estimates. lt also requires management to exercise judgement in applying the company's accounting

policies.

Information on the impact of first-time adoption of FRS 102 section 1A is given in note 16. The following principal

accounting policies have been applied:

TURNOVER

Revenue is measured at the fair value of the consideration received or receivable.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

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

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair

value is recognised in profit or loss.

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a

legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price

including transaction costs and are subsequently carried at amortised cost using the effective interest method unless

the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not

amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements

entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after

deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and preference shares that are classified as debt, are

initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt

instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial

liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognised initially

at transaction price and subsequently measured at amortised cost using the effective interest method.

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 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

Cost

At 1 July 2016

and 30 June 2017

6,000

Amortisation

At 1 July 2016

2,136

Charge for year

1,200

At 30 June 2017

3,336

Net book value

At 30 June 2017

2,664

At 30 June 2016

3,864

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

Additions

1,374

At 30 June 2017

1,374

Depreciation

Charge for year

188

At 30 June 2017

188

Net book value

At 30 June 2017

1,186

6.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 July 2016

and 30 June 2017

100,601

Net book value

At 30 June 2017

100,601

At 30 June 2016

100,601

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

365

986

Tax

10,906

3,534

Other creditors

18,948

15,850

Directors' current accounts

765

12,227

Accruals and deferred income

961

961

Accrued expenses

4,356

3,348

36,301

36,906

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Preference shares

65,000

65,000

2017

2016

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Preference shares

65,000

65,000

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Share capital 1

1

100

100

10.

RESERVES

Retained

earnings

£

At 1 July 2016

3,191

Profit for the year

27,570

Dividends

(27,550

)

At 30 June 2017

3,211

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2017 and 30 June 2016:

2017

2016

£

£

P Rose

Balance outstanding at start of year

(12,227

)

(9,310

)

Amounts advanced

15,400

(3,416

)

Amounts repaid

(3,939

)

499

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(766

)

(12,227

)

12.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £765 (2016: owed (£12,227)) by/(to) the director. P Rose is a director

of Unique Asset Management Limited.

The company was under the control of P Rose throughout the period.

13.	FIRST YEAR ADOPTION

This was the first period that the company has presented its results under FRS 102 section 1A. The last financial

statements under FRSSE 2015 were for the period ended 30 June 2016. The date of transition to FRS 102 section 1A

was 1 July 2015.

There is no impact on either the Profit and Loss account or the net assets of the company upon the transition to FRS

102 section 1A.