IRIS Accounts Production v18.3.1.72 03550116 director 1.5.17 30.4.18 30.4.18 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure035501162017-04-30035501162018-04-30035501162017-05-012018-04-30035501162016-04-30035501162016-05-012017-04-30035501162017-04-3003550116ns15:EnglandWales2017-05-012018-04-3003550116ns14:PoundSterling2017-05-012018-04-3003550116ns10:Director12017-05-012018-04-3003550116ns10:PrivateLimitedCompanyLtd2017-05-012018-04-3003550116ns10:SmallEntities2017-05-012018-04-3003550116ns10:AuditExempt-NoAccountantsReport2017-05-012018-04-3003550116ns10:SmallCompaniesRegimeForDirectorsReport2017-05-012018-04-3003550116ns10:SmallCompaniesRegimeForAccounts2017-05-012018-04-3003550116ns10:FullAccounts2017-05-012018-04-3003550116ns10:RegisteredOffice2017-05-012018-04-3003550116ns5:CurrentFinancialInstruments2018-04-3003550116ns5:CurrentFinancialInstruments2017-04-3003550116ns5:ShareCapital2018-04-3003550116ns5:ShareCapital2017-04-3003550116ns5:RetainedEarningsAccumulatedLosses2018-04-3003550116ns5:RetainedEarningsAccumulatedLosses2017-04-3003550116ns5:LandBuildings2017-04-3003550116ns5:LandBuildings2017-05-012018-04-3003550116ns5:LandBuildings2018-04-3003550116ns5:LandBuildings2017-04-30


REGISTERED NUMBER: 03550116 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2018

for

Underace Limited

Underace Limited (Registered number: 03550116)






Contents of the Financial Statements
for the Year Ended 30 April 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Underace Limited

Company Information
for the Year Ended 30 April 2018







DIRECTOR: A Cefai





REGISTERED OFFICE: 119 The Hub
300 Kensal Road
London
W10 5BE





REGISTERED NUMBER: 03550116 (England and Wales)





ACCOUNTANT: Hilton Consulting Limited
119 The Hub
300 Kensal Road
London
W10 5BE

Underace Limited (Registered number: 03550116)

Balance Sheet
30 April 2018

30.4.18 30.4.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 680,965 695,104

CURRENT ASSETS
Cash at bank 24,295 22,469

CREDITORS
Amounts falling due within one year 5 85,114 74,553
NET CURRENT LIABILITIES (60,819 ) (52,084 )
TOTAL ASSETS LESS CURRENT LIABILITIES 620,146 643,020

CAPITAL AND RESERVES
Called up share capital 900,000 900,000
Retained earnings (279,854 ) (256,980 )
SHAREHOLDERS' FUNDS 620,146 643,020

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 20 February 2019 and were signed by:





A Cefai - Director


Underace Limited (Registered number: 03550116)

Notes to the Financial Statements
for the Year Ended 30 April 2018

1. STATUTORY INFORMATION

Underace 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value
added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 May 2017
and 30 April 2018 942,574
DEPRECIATION
At 1 May 2017 247,470
Charge for year 14,139
At 30 April 2018 261,609
NET BOOK VALUE
At 30 April 2018 680,965
At 30 April 2017 695,104

Underace Limited (Registered number: 03550116)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2018

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.18 30.4.17
£    £   

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.18 30.4.17
£    £   
Trade creditors 9,607 3,131
Taxation and social security 17 17
Other creditors 75,490 71,405
85,114 74,553