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REGISTERED NUMBER: 02771950 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ULTIMA SPORTS LIMITED

ULTIMA SPORTS LIMITED (REGISTERED NUMBER: 02771950)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ULTIMA SPORTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R J Marlow
D Mcdonald





SECRETARY: R J Marlow





REGISTERED OFFICE: 25 Station Road
Hinckley
Leicestershire
LE10 1AP





REGISTERED NUMBER: 02771950 (England and Wales)





ACCOUNTANTS: Armstrongs
Chartered Accountants
25 Station Road
Hinckley
Leicestershire
LE10 1AP

ULTIMA SPORTS LIMITED (REGISTERED NUMBER: 02771950)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 908,310 59,022
Investments 5 1,351,035 1,252,121
2,259,345 1,311,143

CURRENT ASSETS
Stocks 111,130 116,931
Debtors 6 59,804 148,655
Cash at bank 2,088,450 1,910,247
2,259,384 2,175,833
CREDITORS
Amounts falling due within one year 7 1,671,270 1,771,475
NET CURRENT ASSETS 588,114 404,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,847,459

1,715,501

CREDITORS
Amounts falling due after more than one
year

8

(11,440

)

(22,027

)

PROVISIONS FOR LIABILITIES (49,683 ) (11,304 )
NET ASSETS 2,786,336 1,682,170

CAPITAL AND RESERVES
Called up share capital 125 125
Share premium 149,975 149,975
Retained earnings 2,636,236 1,532,070
SHAREHOLDERS' FUNDS 2,786,336 1,682,170

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

ULTIMA SPORTS LIMITED (REGISTERED NUMBER: 02771950)

BALANCE SHEET - continued
31 MARCH 2024


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 30 October 2024 and were signed on its behalf by:





R J Marlow - Director


ULTIMA SPORTS LIMITED (REGISTERED NUMBER: 02771950)

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

1. STATUTORY INFORMATION

Ultima Sports Limited 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.

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 as modified by the revaluation of certain assets.

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- plant & machinery
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Plant & Machinery is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


ULTIMA SPORTS LIMITED (REGISTERED NUMBER: 02771950)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 256,639 31,663 - 288,302
Additions 1,093 - 175,000 176,093
Disposals (40,571 ) (12,435 ) - (53,006 )
Revaluations 545,546 - - 545,546
At 31 March 2024 762,707 19,228 175,000 956,935
DEPRECIATION
At 1 April 2023 206,147 23,133 - 229,280
Charge for year 12,400 2,534 25,521 40,455
Eliminated on disposal (38,219 ) (12,926 ) - (51,145 )
Revaluation adjustments (169,965 ) - - (169,965 )
At 31 March 2024 10,363 12,741 25,521 48,625
NET BOOK VALUE
At 31 March 2024 752,344 6,487 149,479 908,310
At 31 March 2023 50,492 8,530 - 59,022

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Valuation in 2024 190,546 - - 190,546
Valuation in 2024 355,000 - - 355,000
Cost 217,161 19,228 175,000 411,389
762,707 19,228 175,000 956,935

ULTIMA SPORTS LIMITED (REGISTERED NUMBER: 02771950)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Other investments not loans 1,351,035 1,252,121

Additional information is as follows:
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 1,000,000
PROVISIONS
At 1 April 2023 32,736
Provision for year (97,247 )
At 31 March 2024 (64,511 )
NET BOOK VALUE
At 31 March 2024 1,064,511
At 31 March 2023 967,264

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Life assurance policies 286,524 284,857

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 5
Tax 34,290 115,138
VAT 21,678 29,505
Prepayments and accrued income 3,836 4,007
59,804 148,655

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,227 9,894
Trade creditors 28,835 18,886
Social security and other taxes 7,585 10,937
Other creditors 1,605,161 1,704,693
Directors' loan accounts 962 2,061
Accruals and deferred income 18,500 25,004
1,671,270 1,771,475

ULTIMA SPORTS LIMITED (REGISTERED NUMBER: 02771950)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 11,440 22,027