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Registration number: 05055681

Ulla Homes Limited

Filleted Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Ulla Homes Limited
(Registration number: 05055681)

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Ulla Homes Limited
(Registration number: 05055681)

Company Information

Directors

Mr P Simms

Mr M I Simms

Dr S A Pitt

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Ulla Homes Limited
(Registration number: 05055681)

Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

520

789

Current assets

 

Cash at bank and in hand

 

23

23

Creditors: Amounts falling due within one year

5

(13,613)

(12,658)

Net current liabilities

 

(13,590)

(12,635)

Total assets less current liabilities

 

(13,070)

(11,846)

Creditors: Amounts falling due after more than one year

5

(36,673)

(36,673)

Net liabilities

 

(49,743)

(48,519)

Capital and reserves

 

Called up share capital

20

20

Profit and loss account

(49,763)

(48,539)

Total equity

 

(49,743)

(48,519)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

.........................................
Mr P Simms
Director

 

Ulla Homes Limited
(Registration number: 05055681)

Notes to the Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has net liabilities. The directors will continue to support the company for the forseeable future and therefore the accounts have been prepared on the going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20% straight line

 

Ulla Homes Limited
(Registration number: 05055681)

Notes to the Financial Statements for the Year Ended 29 February 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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.

Borrowings

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

6,405

6,405

At 29 February 2024

6,405

6,405

Depreciation

At 1 March 2023

5,616

5,616

Charge for the year

269

269

At 29 February 2024

5,885

5,885

Carrying amount

At 29 February 2024

520

520

At 28 February 2023

789

789

 

Ulla Homes Limited
(Registration number: 05055681)

Notes to the Financial Statements for the Year Ended 29 February 2024

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

10,000

10,000

Other creditors

 

2,893

1,758

Accrued expenses

 

720

900

 

13,613

12,658

Due after one year

 

Loans and borrowings

6

36,673

36,673

6

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,000

10,000

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

36,673

36,673