Company Registration No. 11817382 (England and Wales)
Ultimate Trim Ltd
Unaudited accounts
for the period from 1 November 2021 to 30 October 2022
Ultimate Trim Ltd
Unaudited accounts
Contents
Ultimate Trim Ltd
Company Information
for the period from 1 November 2021 to 30 October 2022
Director
Craig Steven Evans
Secretary
Victoria Gardner
Company Number
11817382 (England and Wales)
Registered Office
Unit 6 Croft Business Park
Carrock Road
Bromborough
Wirral
CH62 3RA
Accountants
VC Finance Ltd
3.02 The Plaza
100 Old Hall Street
Liverpool
L3 9QJ
Ultimate Trim Ltd
Accountants' report
Accountants' report to the director of Ultimate Trim Ltd on the preparation of the unaudited statutory accounts for the period from 1 November 2021 to 30 October 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Ultimate Trim Ltd for the period from
1 November 2021 to
30 October 2022 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Ultimate Trim Ltd, as a body, in accordance with the terms of our engagement letter dated 12 July 2020. Our work has been undertaken solely to prepare for your approval the accounts of Ultimate Trim Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ultimate Trim Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Ultimate Trim Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Ultimate Trim Ltd. You consider that Ultimate Trim Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Ultimate Trim Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
VC Finance Ltd
3.02 The Plaza
100 Old Hall Street
Liverpool
L3 9QJ
26 October 2023
Ultimate Trim Ltd
Statement of financial position
as at 30 October 2022
Tangible assets
9,288
12,683
Cash at bank and in hand
583
2,136
Creditors: amounts falling due within one year
(9,893)
(11,476)
Net current assets
950
4,710
Total assets less current liabilities
10,238
17,393
Creditors: amounts falling due after more than one year
(30,067)
(29,467)
Net liabilities
(19,829)
(12,074)
Called up share capital
3
3
Revaluation reserve
6,000
6,000
Profit and loss account
(25,832)
(18,077)
Shareholders' funds
(19,829)
(12,074)
For the period ending 30 October 2022 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 October 2023 and were signed on its behalf by
Craig Steven Evans
Director
Company Registration No. 11817382
Ultimate Trim Ltd
Notes to the Accounts
for the period from 1 November 2021 to 30 October 2022
Ultimate Trim Ltd is a private company, limited by shares, registered in England and Wales, registration number 11817382. The registered office is Unit 6 Croft Business Park, Carrock Road, Bromborough, Wirral, CH62 3RA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The Company is trading on a cashflow positive basis notwithstanding its net liabilities. Cashflow forecasts for the upcoming 12 months show a positive position and the Directors therefore adopt the going concern basis in the compilation of hte accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
25% straight line
Plant & machinery
25% straight line
Motor vehicles
25% straight line
Fixtures & fittings
20% straight line
Computer equipment
33.3% straight line
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 November 2021
3,524
16,899
20,423
At 30 October 2022
3,524
16,899
20,423
At 1 November 2021
978
6,762
7,740
Charge for the period
690
2,705
3,395
At 30 October 2022
1,668
9,467
11,135
At 30 October 2022
1,856
7,432
9,288
At 31 October 2021
2,546
10,137
12,683
Ultimate Trim Ltd
Notes to the Accounts
for the period from 1 November 2021 to 30 October 2022
Amounts falling due within one year
Accrued income and prepayments
-
5,000
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
4,521
4,332
Trade creditors
5,364
3,011
Taxes and social security
8
-
Loans from directors
-
4,133
7
Creditors: amounts falling due after more than one year
2022
2021
Other creditors
10,100
11,000
Loans from directors
10,000
5,000
Included within Creditors > 1 Year is an amount due to Mr David Hart of £6,000 (2021: £6,000). This amount carries no interest, is repayable on demand but would not be called upon if to do so would cause the company to be unable to pay its liabilities as and when they fall due. There is no fixed repayment date.
Allotted, called up and fully paid:
3 Ordinary shares of £1 each
3
3
The Company has no contingent liabilities
10
Transactions with related parties
Included within Creditors > 1 Year is an amount due to VC Finance Ltd of £5,000 (2021: £5,000). This amount carries no interest, is repayable on demand but would not be called upon if to do so would cause the company to be unable to pay its liabilities as and when they fall due. This is a related party by way of common Directorship of Christopher Neil Evans. There is no fixed repayment date. It was previously secured by way of a fixed and floating charge debenture as part of a drawdown facility, however, this facility has now ceased and the debenture has been satisfied.
11
Average number of employees
During the period the average number of employees was 1 (2021: 1).