Company Registration No. 05816315 (England and Wales)
UNIVERSAL TRADE SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019
PAGES FOR FILING WITH REGISTRAR
UNIVERSAL TRADE SUPPLIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2
UNIVERSAL TRADE SUPPLIES LIMITED
BALANCE SHEET
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
892
34,754
Cash at bank and in hand
1,616
13,905
2,508
48,659
Creditors: amounts falling due within one year
3
(14,590)
(42,023)
Net current (liabilities)/assets
(12,082)
6,636
Capital and reserves
Called up share capital
4
200
200
Profit and loss reserves
(12,282)
6,436
Total equity
(12,082)
6,636
In accordance with section 444 of the Companies Act 2006 all
of
the members of the company have consented to the
preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (S.I. 2008/409)(b).
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 May 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 25 February 2020
Mr T Thakrar
Director
Company Registration No. 05816315
UNIVERSAL TRADE SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019
- 2 -
1
Accounting policies
Company information
Universal Trade Supplies Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
58 Howberry Road, Edgware, Middlesex, HA8 6SY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods net of VAT and trade discounts.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2018 - 2).
3
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
8,960
32,596
Corporation tax
-
1,582
Other creditors
5,630
7,845
14,590
42,023
4
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
200 Ordinary shares of £1 each
200
200
5
Control
No party controls the company.