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COMPANY REGISTRATION NUMBER: 10065807
Ultrablast (UK) Ltd
Filleted Unaudited Financial Statements
31 March 2023
Ultrablast (UK) Ltd
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
120,350
103,214
Current assets
Debtors
6
25,698
19,030
Cash at bank and in hand
166,727
112,910
---------
---------
192,425
131,940
Creditors: amounts falling due within one year
7
135,132
144,742
---------
---------
Net current assets/(liabilities)
57,293
( 12,802)
---------
---------
Total assets less current liabilities
177,643
90,412
Creditors: amounts falling due after more than one year
8
11,767
16,781
---------
-------
Net assets
165,876
73,631
---------
-------
Capital and reserves
Called up share capital
13
13
Profit and loss account
165,863
73,618
---------
-------
Shareholders funds
165,876
73,631
---------
-------
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 Section 1A of 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.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 October 2023 , and are signed on behalf of the board by:
Mr G Barlow
Director
Company registration number: 10065807
Ultrablast (UK) Ltd
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Jolly Brows, Bolton, England, BL2 4LZ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Plant and machinery
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Office equipment
-
20% reducing balance
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2022
176,851
15,606
767
193,224
Additions
17,250
26,500
43,750
Disposals
( 4,500)
( 4,500)
---------
-------
----
---------
At 31 March 2023
189,601
42,106
767
232,474
---------
-------
----
---------
Depreciation
At 1 April 2022
77,692
11,858
460
90,010
Charge for the year
21,185
5,367
62
26,614
Disposals
( 4,500)
( 4,500)
---------
-------
----
---------
At 31 March 2023
94,377
17,225
522
112,124
---------
-------
----
---------
Carrying amount
At 31 March 2023
95,224
24,881
245
120,350
---------
-------
----
---------
At 31 March 2022
99,159
3,748
307
103,214
---------
-------
----
---------
6. Debtors
2023
2022
£
£
Trade debtors
23,126
8,086
Other debtors
2,572
10,944
-------
-------
25,698
19,030
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,339
5,306
Trade creditors
1,834
954
Corporation tax
20,727
14,074
Social security and other taxes
7,674
4,558
Other creditors
99,558
119,850
---------
---------
135,132
144,742
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
11,767
16,781
-------
-------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr G Barlow
( 35,544)
2,947
( 13,400)
( 45,997)
-------
------
-------
-------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr G Barlow
( 24,950)
17,402
( 27,997)
(35,545)
-------
-------
-------
-------