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Registered Number: 07931421
England and Wales

 

 

 

ULTIMATE CONSTRUCTION LOGISTICS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Director Matthew Greig Shave
Registered Number 07931421
Registered Office 22 Waterfront
Brighton Marina
Brighton, East Sussex
England
BN2 5WA
Accountants Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 March 2023.
Principal activities
Principal activity of the company during the financial year was of other retail sale in non-specialised stores.
Director
The director who served the company throughout the year was as follows:
Matthew Greig Shave
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Matthew Greig Shave
Director

Date approved: 15 March 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
31 March 2023



....................................................
Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
15 March 2024
3
 
 
Notes
 
2023
£
  2022
£
Current assets      
Debtors 4 1,203,730    1,123,877 
Cash at bank and in hand 95,030    27,607 
1,298,760    1,151,484 
Creditors: amount falling due within one year 5 (1,031,689)   (838,386)
Net current assets 267,071    313,098 
 
Total assets less current liabilities 267,071    313,098 
Creditors: amount falling due after more than one year 6 (709,472)   (42,094)
Provisions for liabilities 7 (1,465)   2,006 
Net liabilities (443,866)   273,010 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account (444,866)   272,010 
Shareholder's funds (443,866)   273,010 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 15 March 2024 and were signed by:


-------------------------------
Matthew Greig Shave
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2021 1,000  417,608  418,608 
Profit for the year 279,402  279,402 
Total comprehensive income for the year 279,402  279,402 
Dividends (425,000) (425,000)
Total investments by and distributions to owners (425,000) (425,000)
At 31 March 2022 1,000  272,010  273,010 
At 01 April 2022 1,000  272,009  273,009 
Profit for the year (66,875) (66,875)
Total comprehensive income for the year (66,875) (66,875)
Dividends (650,000) (650,000)
Total investments by and distributions to owners (650,000) (650,000)
At 31 March 2023 1,000  (444,866) (443,866)
5
General Information
Ultimate Construction Logistics Ltd is a private company, limited by shares, registered in England and Wales, registration number 07931421, registration address 22 Waterfront, Brighton Marina, Brighton, East Sussex, England, BN2 5WA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 15 (2022 : 18).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2022 150,000    150,000 
Additions  
Disposals  
At 31 March 2023 150,000    150,000 
Amortisation
At 01 April 2022 150,000    150,000 
Charge for year  
On disposals  
At 31 March 2023 150,000    150,000 
Net book values
At 31 March 2023  
At 31 March 2022  


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 762,179    802,326 
Intercompany account - Yacht Sales Ltd 436,151    316,151 
Other Debtors 5,400    5,400 
1,203,730    1,123,877 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 17,461    18,153 
Corporation Tax 116,905    197,432 
PAYE & Social Security 442,341    84,444 
Accrued Expenses 750    750 
Other Creditors - Mad Capital   50,000 
Wages & Salaries Control Account 1,468    24,649 
Directors' Current Accounts 42,497    42,397 
VAT 410,267    420,561 
1,031,689    838,386 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 709,472    42,094 
709,472    42,094 

7.

Provisions for liabilities

2023
£
  2022
£
Pension Provisions 1,465    (2,006)
1,465    (2,006)

6