Registered Number:08673216 |
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2023
U Drive Cover Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
U Drive Cover Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
22,448
10,628
2
22,448
10,628
Trade and other receivables |
1,236,189
1,215,444
3
304,319
Cash and cash equivalents |
686,317
1,901,761
1,540,508
Trade and other payables: amounts falling due within one |
year |
(1,278,965)
(1,618,044)
4
261,543
283,717
Net current assets
Total assets less current liabilities |
306,165
272,171
(4,265)
(2,019)
Provisions for liabilities |
301,900
Net assets
270,152
100,000
100,000
160,000
160,000
41,900
10,152
301,900
270,152
Shareholders' funds
For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 05 July 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2023
U Drive Cover Limited
Notes to the Financial Statements
Statutory Information
U Drive Cover Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 08673216. |
Principal place of business: |
Grosvenor House
4 - 7 Station Road
Sunbury on Thames
TW16 6SB
Pilgrim House
Oxford Place
Plymouth
PL1 5AJ
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention. |
Revenue recognition
Turnover represents commission and fees earned in the period.
Property, plant and equipment
Tangible fixed assets are stated at cost less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
20% or 33.3% Straight line |
Equipment
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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For the year ended 31 March 2023
U Drive Cover Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
Equipment
87,930
19,713
107,643
Provision for depreciation and impairment |
77,302
Charge for year
7,893
85,195
22,448
10,628
3. Trade and other receivables |
2022
2023
1,086,553
1,024,001
128,891
212,188
1,236,189
1,215,444
4. Trade and other payables: amounts falling due within one year |
2022
2023
8
-
1,296,631
866,452
Taxation and social security |
129,574
316,482
191,831
96,031
1,618,044
1,278,965
Included within taxation and social security is corporation tax of £91,181 (2022: £279,153).
5. Related party transactions |
Dividends of £360,825 was paid to the directors in the year. |
The company is under the effective control of its directors. |
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For the year ended 31 March 2023
U Drive Cover Limited
Notes to the Financial Statements Continued
6. Directors advances and guarantees |
Repaid
S R McPherson
Loan from director
-
4,133
4,133
-
4,133
4,133
7. Guarantees and other financial commitments |
At 31 March 2023 the company had annual commitments under non-cancellable operating leases as set out below: |
2022
2023
Operating leases which expire: |
-
79,123
-
206,250
206,250
79,123
Under FRS 102, the figures represent the full amount payable for the whole period of the lease remaining at the year |
end. |
8. Average number of persons employed |
During the year the average number of employees was 46 (2022 : 48)
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