Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31true4No description of principal activity2022-02-01false5trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09411812 2022-02-01 2023-01-31 09411812 2021-02-01 2022-01-31 09411812 2023-01-31 09411812 2022-01-31 09411812 c:Director4 2022-02-01 2023-01-31 09411812 d:PlantMachinery 2022-02-01 2023-01-31 09411812 d:PlantMachinery 2023-01-31 09411812 d:PlantMachinery 2022-01-31 09411812 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 09411812 d:FurnitureFittings 2022-02-01 2023-01-31 09411812 d:FurnitureFittings 2023-01-31 09411812 d:FurnitureFittings 2022-01-31 09411812 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 09411812 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 09411812 d:CurrentFinancialInstruments 2023-01-31 09411812 d:CurrentFinancialInstruments 2022-01-31 09411812 d:Non-currentFinancialInstruments 2023-01-31 09411812 d:Non-currentFinancialInstruments 2022-01-31 09411812 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09411812 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 09411812 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 09411812 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 09411812 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 09411812 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 09411812 d:ShareCapital 2023-01-31 09411812 d:ShareCapital 2022-01-31 09411812 d:RetainedEarningsAccumulatedLosses 2023-01-31 09411812 d:RetainedEarningsAccumulatedLosses 2022-01-31 09411812 c:OrdinaryShareClass1 2022-02-01 2023-01-31 09411812 c:OrdinaryShareClass1 2023-01-31 09411812 c:OrdinaryShareClass1 2022-01-31 09411812 c:OrdinaryShareClass2 2022-02-01 2023-01-31 09411812 c:OrdinaryShareClass2 2023-01-31 09411812 c:OrdinaryShareClass2 2022-01-31 09411812 c:FRS102 2022-02-01 2023-01-31 09411812 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 09411812 c:FullAccounts 2022-02-01 2023-01-31 09411812 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 09411812 2 2022-02-01 2023-01-31 09411812 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 09411812 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09411812










ULTRA LOGIK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
ULTRA LOGIK LIMITED
REGISTERED NUMBER: 09411812

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
29,151
29,719

  
29,151
29,719

Current assets
  

Debtors: amounts falling due within one year
 5 
385,287
565,426

Cash at bank and in hand
 6 
119,450
106,158

  
504,737
671,584

Creditors: amounts falling due within one year
 7 
(325,395)
(429,069)

Net current assets
  
 
 
179,342
 
 
242,515

Total assets less current liabilities
  
208,493
272,234

Creditors: amounts falling due after more than one year
 8 
(23,333)
(39,616)

Provisions for liabilities
  

Deferred tax
 10 
(5,539)
(5,646)

  
 
 
(5,539)
 
 
(5,646)

Net assets
  
179,621
226,972


Capital and reserves
  

Called up share capital 
 11 
7
7

Profit and loss account
  
179,614
226,965

  
179,621
226,972


Page 1

 
ULTRA LOGIK LIMITED
REGISTERED NUMBER: 09411812

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 October 2023.




N Eakins
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Ultra Logik Limited is a limited company incorporated in England and Wales. The Registered Office is 601 London Road, Westcliff on Sea, Essex, SS0 9PE. The registered number is 09411812.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
Straight line over 4 years
Fixtures, fittings and equipment
-
25% Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Page 5

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 4).


4.


Tangible fixed assets





Plant and machinery
Fixtures, fittings and equipment
Total

£
£
£



Cost or valuation


At 1 February 2022
7,500
36,853
44,353


Additions
-
8,233
8,233



At 31 January 2023

7,500
45,086
52,586



Depreciation


At 1 February 2022
469
14,164
14,633


Charge for the year on owned assets
1,875
6,927
8,802



At 31 January 2023

2,344
21,091
23,435



Net book value



At 31 January 2023
5,156
23,995
29,151



At 31 January 2022
7,031
22,688
29,719

Page 6

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
374,435
565,122

Other debtors
10,619
-

Prepayments and accrued income
233
304

385,287
565,426





6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
119,450
106,158

119,450
106,158



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
14,195
14,275

Trade creditors
281,628
296,808

Corporation tax
26,610
67,946

Other taxation and social security
-
47,078

Other creditors
12
12

Accruals and deferred income
2,950
2,950

325,395
429,069





8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
23,333
39,616

23,333
39,616


Page 7

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
14,195
14,275


14,195
14,275


Amounts falling due 2-5 years

Bank loans
23,333
39,616


23,333
39,616


37,528
53,891



10.


Deferred taxation




2023


£






At beginning of year
5,647


Charged to profit or loss
(108)



At end of year
5,539

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
5,539
5,647

5,539
5,647


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



6 (2022 - 6) Ordinary shares of £1.00 each
6
6
1 (2022 - 1) A Ordinary share of £1.00
1
1
Page 8

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

11.Share capital (continued)


7

7

The varying rights attaching to the different classes of shares are as follows:
As Regards Voting
(1) The holders of the Ordinary Shares shall be entitled to receive notice of and to attend any General Meeting of the Company and shall be entitled to one vote for every Ordinary Share held.
(2) The holders of the A Ordinary Shares shall not be entitled to receive notice of or to attend any General Meeting of the Company and shall not be entitled to any voting rights whatsoever.
As Regards Income
(3) The Ordinary Shares and A Ordinary Shares shall be entitled to varying and seperate rights to dividends as declared by the Company from time to time.
As Regards Capital
(4) On a winding up or a reduction of capital involving a return of capital the assets of the Company shall be applied first in repaying to the holders of the Ordinary Shares and the A Ordinary Shares, the capital paid up or credited as paid thereon and the balance of the assets of the Company shall belong to and be distributed among the holders of the Ordinary Shares rateably according to the amounts paid upon such shares and the holders of the A Ordinary Shares shall not be entitled to any further or other participation in the profits or assets of the Company.



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £2,137 (2022 £2,917). Contributions totalling nil (2021 nil) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

During the year the company paid dividends on Ordinary Shares to S. Barnes £76,447 (2022 £44,350) and N. Eakins £76,447 (2022 £44,350).


Page 9