Company registration number:
07314065
UK National Gas Ltd
Unaudited filleted financial statements
31 July 2019
UK National Gas Ltd
Contents
Directors and other information
Directors report
Statement of financial position
Notes to the financial statements
UK National Gas Ltd
Directors and other information
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Directors
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Mr Arafath Bin Kasham
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Shamima Sultana
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(Appointed 1 May 2019)
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Company number
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07314065
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Registered office
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Cotswold House
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219 Marsh Wall
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London
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E14 9FJ
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Business address
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Cotswold House
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219 Marsh Wall
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Canary wharf
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London
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E14 9FJ
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Accountants
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Artifin Accountants
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Suite 5,2nd Floor, Innovation Centre
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225 Marsh Wall
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South Quay
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London
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E14 9FW
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UK National Gas Ltd
Directors report
Year ended 31 July 2019
The directors present their report and the unaudited financial statements of the company for the year ended 31 July 2019.
Directors
The directors who served the company during the year were as follows:
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Mr Arafath Bin Kasham
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Shamima Sultana
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(Appointed 1 May 2019)
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Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
27 April 2020
and signed on behalf of the board by:
Mr Arafath Bin Kasham
Director
UK National Gas Ltd
Statement of financial position
31 July 2019
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2019
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2018
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Note
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£
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£
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£
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£
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Current assets
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Debtors
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4
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2,081
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4,624
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Cash at bank and in hand
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61,525
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5,478
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_______
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_______
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63,606
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10,102
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Creditors: amounts falling due
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within one year
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(
427,369)
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(
447,954)
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_______
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_______
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Net current liabilities
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(
363,763)
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(
437,852)
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_______
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Total assets less current liabilities
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(
363,763)
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(
437,852)
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_______
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Net liabilities
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(
363,763)
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(
437,852)
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_______
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_______
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Capital and reserves
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Called up share capital
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5
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1
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1
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Profit and loss account
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(
363,764)
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(
437,853)
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_______
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Shareholders deficit
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(
363,763)
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(
437,852)
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_______
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_______
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For the year ending 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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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;
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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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
27 April 2020
, and are signed on behalf of the board by:
Mr Arafath Bin Kasham
Director
Company registration number:
07314065
UK National Gas Ltd
Notes to the financial statements
Year ended 31 July 2019
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is UK National Gas Ltd, Cotswold House, 219 Marsh Wall, London, E14 9FJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fittings fixtures and equipment
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-
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25% %
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straight line
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Motor vehicles
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-
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25% %
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straight line
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
4.
Debtors
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2019
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2018
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£
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£
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Other debtors
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2,081
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4,624
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_______
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_______
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5.
Called up share capital
Issued, called up and fully paid
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2019
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2018
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No
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£
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No
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£
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Ordinary shares
shares of £
1.00 each
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1
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1
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1
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1
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