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Company Registration No. 04716246 (England and Wales)
ULTIMATE FUN OBSESSIONS LIMITED Unaudited accounts for the year ended 31 March 2024
ULTIMATE FUN OBSESSIONS LIMITED Unaudited accounts Contents
Page
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ULTIMATE FUN OBSESSIONS LIMITED Company Information for the year ended 31 March 2024
Director
Dominic Early
Secretary
Justine Rowe
Company Number
04716246 (England and Wales)
Registered Office
41 ALEXANDRA PARADE WESTON-SUPER-MARE NORTH SOMERSET BS23 1QZ
Accountants
Belvedere Chartered Accountants
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ULTIMATE FUN OBSESSIONS LIMITED Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,094 
1,642 
Current assets
Inventories
242,322 
254,865 
Debtors
18 
576 
Cash at bank and in hand
25,870 
14,871 
268,210 
270,312 
Creditors: amounts falling due within one year
(206,539)
(207,493)
Net current assets
61,671 
62,819 
Net assets
62,765 
64,461 
Capital and reserves
Called up share capital
102 
102 
Profit and loss account
62,663 
64,359 
Shareholders' funds
62,765 
64,461 
For the year ending 31 March 2024 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 28 August 2024 and were signed on its behalf by
Dominic Early Director Company Registration No. 04716246
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ULTIMATE FUN OBSESSIONS LIMITED Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
ULTIMATE FUN OBSESSIONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04716246. The registered office is 41 ALEXANDRA PARADE, WESTON-SUPER-MARE, NORTH SOMERSET, BS23 1QZ.
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
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Grant Income
Grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. 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.
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
25% Straight Line
Motor vehicles
25% Straight Line
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ULTIMATE FUN OBSESSIONS LIMITED Notes to the Accounts for the year ended 31 March 2024
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
8,686 
7,917 
16,603 
At 31 March 2024
8,686 
7,917 
16,603 
Depreciation
At 1 April 2023
7,044 
7,917 
14,961 
Charge for the year
548 
- 
548 
At 31 March 2024
7,592 
7,917 
15,509 
Net book value
At 31 March 2024
1,094 
- 
1,094 
At 31 March 2023
1,642 
- 
1,642 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
18 
576 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
886 
424 
VAT
2,150 
8,864 
Trade creditors
5,826 
21,700 
Taxes and social security
- 
4,115 
Loans from directors
197,252 
171,965 
Accruals
425 
425 
206,539 
207,493 
The amount due to the Director is interest free and repayable on demand.
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
102 Ordinary shares of £1 each
102 
102 
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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