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REGISTERED NUMBER: 11568724 (England and Wales)





ULTIMA EDUCATION LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






ULTIMA EDUCATION LTD (REGISTERED NUMBER: 11568724)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ULTIMA EDUCATION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Mrs L N Penfold
Mr T S Jones





REGISTERED OFFICE: 7 St John Street
Mansfield
Nottinghamshire
NG18 1QH





REGISTERED NUMBER: 11568724 (England and Wales)





ACCOUNTANTS: ApC
Chartered Accountants
7 St John Street
Mansfield
Nottinghamshire
NG18 1QH

ULTIMA EDUCATION LTD (REGISTERED NUMBER: 11568724)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 39,081 56,177

CURRENT ASSETS
Debtors 6 574,254 429,035
Cash at bank and in hand 562,836 366,534
1,137,090 795,569
CREDITORS
Amounts falling due within one year 7 475,463 464,352
NET CURRENT ASSETS 661,627 331,217
TOTAL ASSETS LESS CURRENT
LIABILITIES

700,708

387,394

PROVISIONS FOR LIABILITIES 8,598 -
NET ASSETS 692,110 387,394

CAPITAL AND RESERVES
Called up share capital 106 106
Retained earnings 692,004 387,288
692,110 387,394

ULTIMA EDUCATION LTD (REGISTERED NUMBER: 11568724)

BALANCE SHEET - continued
30 SEPTEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 January 2024 and were signed on its behalf by:





Mrs L N Penfold - Director


ULTIMA EDUCATION LTD (REGISTERED NUMBER: 11568724)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Ultima Education Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value excluding Value Added Tax of goods and services provided to customers during the year. In respect of goods and services provided, all income is taken to profit and loss at the same point as the right to receive consideration has been acquired.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.


ULTIMA EDUCATION LTD (REGISTERED NUMBER: 11568724)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


3. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 17 ) .

ULTIMA EDUCATION LTD (REGISTERED NUMBER: 11568724)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2022 13,534 51,395 19,920 84,849
Additions - - 1,224 1,224
At 30 September 2023 13,534 51,395 21,144 86,073
DEPRECIATION
At 1 October 2022 4,237 12,849 11,586 28,672
Charge for year 2,326 9,637 6,357 18,320
At 30 September 2023 6,563 22,486 17,943 46,992
NET BOOK VALUE
At 30 September 2023 6,971 28,909 3,201 39,081
At 30 September 2022 9,297 38,546 8,334 56,177

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 210,191 110,131
Amounts owed by related parties 359,711 236,471
Directors' current accounts - 78,192
Prepayments and accrued income 4,352 4,241
574,254 429,035

ULTIMA EDUCATION LTD (REGISTERED NUMBER: 11568724)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 111,469 149,924
Corporation tax 153,739 113,529
Social security and other taxes 13,671 -
Pension 2,141 -
VAT 134,808 126,559
Wages control account 31,370 -
Directors' current accounts 25,190 25,299
Accruals and deferred income 3,075 49,041
475,463 464,352

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Mrs L N Penfold
Balance outstanding at start of year 78,192 -
Amounts advanced 167,875 78,192
Amounts repaid (256,403 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,336 ) 78,192

9. RELATED PARTY DISCLOSURES

Key management personnel remuneration in the period totalled £25,140 (2022:£30,443).

During the year the company gave financial assistance to Booost Education Ltd, a company that Mrs L Penfold and Mr T Jones are directors and shareholders, of £123,240 (2022: £111,000). The outstanding balance, due to Ultima Education Ltd, at the year end is £359,711.