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REGISTERED NUMBER: NI606323 (Northern Ireland)












Ultraproservice Ltd

Unaudited Financial Statements for the Year Ended 31st December 2023






Ultraproservice Ltd (Registered number: NI606323)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Balance sheet 1

Notes to the financial statements 3


Ultraproservice Ltd (Registered number: NI606323)

Balance Sheet
31st December 2023

2023 2022
Notes £    £   
Fixed assets
Tangible assets 4 26,212 47,601

Current assets
Stocks 5 1,492 832
Debtors 6 70,123 89,209
Cash at bank 17,623 15,365
89,238 105,406
Creditors
Amounts falling due within one year 7 (45,356 ) (42,609 )
Net current assets 43,882 62,797
Total assets less current liabilities 70,094 110,398

Creditors
Amounts falling due after more than one
year

8

(16,454

)

(25,716

)
Net assets 53,640 84,682

Capital and reserves
Called up share capital 11 2 2
Retained earnings 53,638 84,680
Shareholders' funds 53,640 84,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Ultraproservice Ltd (Registered number: NI606323)

Balance Sheet - continued
31st December 2023


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 director and authorised for issue on 5th September 2024 and were signed by:





Mrs S Solomon - Director


Ultraproservice Ltd (Registered number: NI606323)

Notes to the Financial Statements
for the year ended 31st December 2023

1. Statutory information

Ultraproservice Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address are as below:

Registered number: NI606323

Registered office: 4b Heron Wharf
Heron Road
Belfast
BT3 9LE

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


2. Accounting policies

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

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% Straight line
Motor vehicles - 15% Straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Ultraproservice Ltd (Registered number: NI606323)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legal enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities 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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


Ultraproservice Ltd (Registered number: NI606323)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Ultraproservice Ltd (Registered number: NI606323)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. Accounting policies - continued

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3. Employees and directors

The average number of employees during the year was 7 (2022 - 7 ) .

4. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1st January 2023 11,538 138,707 150,245
Disposals (1,017 ) - (1,017 )
At 31st December 2023 10,521 138,707 149,228
Depreciation
At 1st January 2023 7,424 95,220 102,644
Charge for year 1,547 19,842 21,389
Eliminated on disposal (1,017 ) - (1,017 )
At 31st December 2023 7,954 115,062 123,016
Net book value
At 31st December 2023 2,567 23,645 26,212
At 31st December 2022 4,114 43,487 47,601

5. Stocks
2023 2022
£    £   
Finished goods 1,492 832

Ultraproservice Ltd (Registered number: NI606323)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 57,449 78,449
Directors' current accounts - 8,552
VAT 4,608 2,208
Prepayments 8,066 -
70,123 89,209

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 9,411 9,411
Trade creditors (5,389 ) (12,843 )
Corporation tax 22,955 30,702
Social security and other taxes 302 (46 )
Employee pensions payable 167 69
Other creditors 9,041 4,556
Other creditors 1,055 599
Danske credit card 905 437
Directors' current accounts 21 -
Accrued expenses 6,888 9,724
45,356 42,609

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans (see note 9) 16,454 25,716

9. Loans

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,411 9,411

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,411 9,411

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,043 16,305

Ultraproservice Ltd (Registered number: NI606323)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

10. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   

The hire purchase creditors are secured against the relevant asset purchased.

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

12. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31st December 2023 and 31st December 2022:

2023 2022
£    £   
Mrs S Solomon
Balance outstanding at start of year 8,552 (9 )
Amounts advanced 31,455 89,561
Amounts repaid (48,028 ) (81,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8,021 ) 8,552