Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseNo description of principal activity65truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09411812 2023-02-01 2024-01-31 09411812 2022-02-01 2023-01-31 09411812 2024-01-31 09411812 2023-01-31 09411812 c:Director4 2023-02-01 2024-01-31 09411812 d:PlantMachinery 2023-02-01 2024-01-31 09411812 d:PlantMachinery 2024-01-31 09411812 d:PlantMachinery 2023-01-31 09411812 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09411812 d:FurnitureFittings 2023-02-01 2024-01-31 09411812 d:FurnitureFittings 2024-01-31 09411812 d:FurnitureFittings 2023-01-31 09411812 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09411812 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09411812 d:CurrentFinancialInstruments 2024-01-31 09411812 d:CurrentFinancialInstruments 2023-01-31 09411812 d:Non-currentFinancialInstruments 2024-01-31 09411812 d:Non-currentFinancialInstruments 2023-01-31 09411812 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 09411812 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09411812 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 09411812 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 09411812 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 09411812 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 09411812 d:ShareCapital 2024-01-31 09411812 d:ShareCapital 2023-01-31 09411812 d:RetainedEarningsAccumulatedLosses 2024-01-31 09411812 d:RetainedEarningsAccumulatedLosses 2023-01-31 09411812 c:OrdinaryShareClass1 2023-02-01 2024-01-31 09411812 c:OrdinaryShareClass1 2024-01-31 09411812 c:OrdinaryShareClass1 2023-01-31 09411812 c:OrdinaryShareClass2 2023-02-01 2024-01-31 09411812 c:OrdinaryShareClass2 2024-01-31 09411812 c:OrdinaryShareClass2 2023-01-31 09411812 c:FRS102 2023-02-01 2024-01-31 09411812 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 09411812 c:FullAccounts 2023-02-01 2024-01-31 09411812 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09411812 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 09411812 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 09411812 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-01-31 09411812 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 09411812 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 09411812 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 09411812 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09411812










ULTRA LOGIK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
ULTRA LOGIK LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ULTRA LOGIK LIMITED
FOR THE YEAR ENDED 31 JANUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ultra Logik Limited for the year ended 31 January 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Ultra Logik Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Ultra Logik Limited and state those matters that we have agreed to state to the Board of directors of Ultra Logik Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ultra Logik Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Ultra Logik Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ultra Logik Limited. You consider that Ultra Logik Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Ultra Logik Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MWS
 
Chartered Accountants
  
Kingsridge House
601 London Road
Westcliff on Sea
Essex
SS0 9PE
31 October 2024
Page 1

 
ULTRA LOGIK LIMITED
REGISTERED NUMBER: 09411812

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
62,027
29,150

  
62,027
29,150

Current assets
  

Debtors: amounts falling due within one year
 5 
448,035
385,287

Cash at bank and in hand
 6 
120,136
119,450

  
568,171
504,737

Creditors: amounts falling due within one year
 7 
(340,940)
(325,394)

Net current assets
  
 
 
227,231
 
 
179,343

Total assets less current liabilities
  
289,258
208,493

Creditors: amounts falling due after more than one year
 8 
(25,903)
(23,333)

Provisions for liabilities
  

Deferred tax
 11 
(15,508)
(5,539)

  
 
 
(15,508)
 
 
(5,539)

Net assets
  
247,847
179,621


Capital and reserves
  

Called up share capital 
 12 
7
7

Profit and loss account
  
247,840
179,614

  
247,847
179,621


Page 2

 
ULTRA LOGIK LIMITED
REGISTERED NUMBER: 09411812

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 October 2024.




N Eakins
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Ultra Logik Limited is a limited company incorporated in England and Wales. The Registered Office is 601 London Road, Westcliff on Sea, Essex, SS0 9PE. The registered number is 09411812.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
Straight line over 4 years
Fixtures, fittings and equipment
-
25% Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 5).

Page 6

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures, fittings and equipment
Total

£
£
£



Cost or valuation


At 1 February 2023
7,500
45,086
52,586


Additions
31,126
14,441
45,567



At 31 January 2024

38,626
59,527
98,153



Depreciation


At 1 February 2023
2,344
21,091
23,435


Charge for the year on owned assets
4,524
8,167
12,691



At 31 January 2024

6,868
29,258
36,126



Net book value



At 31 January 2024
31,758
30,269
62,027



At 31 January 2023
5,156
23,994
29,150


5.


Debtors

2024
2023
£
£


Trade debtors
380,172
374,435

Other debtors
60,763
10,619

Prepayments and accrued income
7,100
233

448,035
385,287





6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
120,136
119,450

120,136
119,450


Page 7

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
14,195

Trade creditors
257,727
281,627

Corporation tax
65,592
26,610

Obligations under finance lease and hire purchase contracts
3,959
-

Other creditors
12
12

Accruals and deferred income
3,650
2,950

340,940
325,394


Net obligations under hire purchase contracts are secured over the relevant assets.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
22,500
23,333

Net obligations under finance leases and hire purchase contracts
3,403
-

25,903
23,333


The following liabilities were secured:

2024
2023
£
£



Hire purchase
7,362
-

7,362
-

Details of security provided:

Net obligations under hire purchase contracts are secured over the relevant assets.

Page 8

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
14,195


10,000
14,195


Amounts falling due 2-5 years

Bank loans
22,500
23,333


22,500
23,333


32,500
37,528



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
3,959
-

Between 1-5 years
3,403
-

7,362
-


11.


Deferred taxation




2024


£






At beginning of year
5,539


Charged to profit or loss
9,969



At end of year
15,508

Page 9

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
 
11.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
15,507
5,539

15,507
5,539


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



6 (2023 - 6) Ordinary shares of £1.00 each
6
6
1 (2023 - 1) A Ordinary share of £1.00
1
1

7

7

The varying rights attaching to the different classes of shares are as follows:
As Regards Voting
(1) The holders of the Ordinary Shares shall be entitled to receive notice of and to attend any General Meeting of the Company and shall be entitled to one vote for every Ordinary Share held.
(2) The holders of the A Ordinary Shares shall not be entitled to receive notice of or to attend any General Meeting of the Company and shall not be entitled to any voting rights whatsoever.
As Regards Income
(3) The Ordinary Shares and A Ordinary Shares shall be entitled to varying and seperate rights to dividends as declared by the Company from time to time.
As Regards Capital
(4) On a winding up or a reduction of capital involving a return of capital the assets of the Company shall be applied first in repaying to the holders of the Ordinary Shares and the A Ordinary Shares, the capital paid up or credited as paid thereon and the balance of the assets of the Company shall belong to and be distributed among the holders of the Ordinary Shares rateably according to the amounts paid upon such shares and the holders of the A Ordinary Shares shall not be entitled to any further or other participation in the profits or assets of the Company.



13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £1,053 (2023 £2,137). Contributions totalling nil (2023 nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 10

 
ULTRA LOGIK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

14.


Related party transactions

During the year the company paid dividends on Ordinary Shares to S. Barnes £74,870 (2023 £76,447) and N. Eakins £74,870 (2023 £76,447).


Page 11