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Company Registration No. 10198071 (England and Wales)
Ultimate Modelling Products Limited Unaudited accounts for the year ended 31 March 2023
Ultimate Modelling Products Limited Unaudited accounts Contents
Page
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Ultimate Modelling Products Limited Company Information for the year ended 31 March 2023
Director
Mr Lee John Larholt
Company Number
10198071 (England and Wales)
Registered Office
Wrag Marsh House Marsh Road Spalding Lincolnshire PE12 6HQ
Accountants
Vibe Accounting Ltd Unit 2 Fareham Enterprise Centre 1 Fort Fareham Road Fareham Hampshire PO14 1TH
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Ultimate Modelling Products Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
18,188 
16,315 
Current assets
Inventories
12,600 
11,750 
Debtors
3,300 
3,087 
Cash at bank and in hand
484 
4,398 
16,384 
19,235 
Creditors: amounts falling due within one year
(26,320)
(21,404)
Net current liabilities
(9,936)
(2,169)
Total assets less current liabilities
8,252 
14,146 
Creditors: amounts falling due after more than one year
(22,432)
(27,387)
Provisions for liabilities
Deferred tax
(3,937)
(3,102)
Net liabilities
(18,117)
(16,343)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(18,118)
(16,344)
Shareholders' funds
(18,117)
(16,343)
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. 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 23 January 2024 and were signed on its behalf by
Mr Lee John Larholt Director Company Registration No. 10198071
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Ultimate Modelling Products Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Ultimate Modelling Products Limited is a private company, limited by shares, registered in England and Wales, registration number 10198071. The registered office is Wrag Marsh House, Marsh Road, Spalding, Lincolnshire, PE12 6HQ.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities, there were no material departures from that standard.
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 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:
Plant & machinery
10% on cost
Motor vehicles
20% reducing balance
Computer equipment
33% on cost
Stock
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Ultimate Modelling Products Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2022
7,620 
15,769 
7,085 
30,474 
Additions
- 
5,002 
1,458 
6,460 
At 31 March 2023
7,620 
20,771 
8,543 
36,934 
Depreciation
At 1 April 2022
1,248 
6,308 
6,603 
14,159 
Charge for the year
763 
2,892 
932 
4,587 
At 31 March 2023
2,011 
9,200 
7,535 
18,746 
Net book value
At 31 March 2023
5,609 
11,571 
1,008 
18,188 
At 31 March 2022
6,372 
9,461 
482 
16,315 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,559 
- 
Accrued income and prepayments
741 
715 
Other debtors
- 
2,372 
3,300 
3,087 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
7,899 
4,127 
VAT
764 
1,114 
Obligations under finance leases and hire purchase contracts
3,038 
3,038 
Trade creditors
2,043 
7,138 
Taxes and social security
1,831 
5,987 
Other creditors
350 
- 
Loans from directors
10,395 
- 
26,320 
21,404 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
17,567 
19,483 
Obligations under finance leases and hire purchase contracts
4,865 
7,904 
22,432 
27,387 
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Ultimate Modelling Products Limited Notes to the Accounts for the year ended 31 March 2023
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Director's Loan Account
1,315 
- 
11,710 
(10,395)
1,315 
- 
11,710 
(10,395)
9
Average number of employees
During the year the average number of employees was 0 (2022: 1).
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