Company registration number 06936290 (England and Wales)
UNITEL DIRECT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
UNITEL DIRECT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
UNITEL DIRECT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
44,746
44,603
Current assets
Debtors
5
307,849
212,947
Cash at bank and in hand
1,420,975
1,951,695
1,728,824
2,164,642
Creditors: amounts falling due within one year
6
(808,808)
(614,721)
Net current assets
920,016
1,549,921
Total assets less current liabilities
964,762
1,594,524
Creditors: amounts falling due after more than one year
7
(589,929)
(904,023)
Provisions for liabilities
(8,501)
(8,475)
Net assets
366,332
682,026
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
366,331
682,025
Total equity
366,332
682,026
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 March 2022 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.
UNITEL DIRECT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2022
31 March 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 16 September 2022
Mr C Wilkinson
Director
Company Registration No. 06936290
UNITEL DIRECT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2022
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 April 2020
1
246,546
246,547
Year ended 31 March 2021:
Profit and total comprehensive income for the year
-
649,179
649,179
Dividends
-
(213,700)
(213,700)
Balance at 31 March 2021
1
682,025
682,026
Year ended 31 March 2022:
Loss and total comprehensive income for the year
-
(98,294)
(98,294)
Dividends
-
(217,400)
(217,400)
Balance at 31 March 2022
1
366,331
366,332
UNITEL DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
1
Accounting policies
Company information
Unitel Direct Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Wynyard Park House, Wynyard Avenue, Wynyard, United Kingdom, TS22 5TB.
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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings and equipment
15% reducing balance
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are
recorded at transaction price.
Basic financial liabilities
Basic financial liabilities, including
creditors
, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
recognised at transaction price.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
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.
UNITEL DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 5 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits
.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised
.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
UNITEL DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
80
63
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021
96,792
Additions
7,521
At 31 March 2022
104,313
Depreciation and impairment
At 1 April 2021
52,189
Depreciation charged in the year
7,378
At 31 March 2022
59,567
Carrying amount
At 31 March 2022
44,746
At 31 March 2021
44,603
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Corporation tax recoverable
17,024
Amounts due from related undertakings
216,277
136,121
Other debtors
74,548
76,826
307,849
212,947
UNITEL DIRECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 7 -
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
289,715
103,934
Trade creditors
98,544
58,035
Corporation tax
152,938
Other taxation and social security
225,587
174,677
Other creditors
194,962
125,137
808,808
614,721
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
589,929
904,023
8
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
1 ordinary share of £1
1
1
1
1
9
Director's transactions
Dividends totalling £217,400 (2021 - £213,700) were paid in the year in respect of shares held by the company's director.
During the previous year the company paid for the rent of premises owned by Mr C Wilkinson, the director, totalling £6,600.