pinacle 6.0
2017.03.01
ULTRAMAG INSPECTION SERVICES LIMITED
1312465
2023-05-01
2024-04-30
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ULTRAMAG INSPECTION
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SERVICES LIMITED
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FINANCIAL STATEMENTS
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Company Registration Number - 1312465 |
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ANDREWS AND COMPANY |
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Accountants and Tax Consultants |
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U001 |
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1. |
ULTRAMAG INSPECTION SERVICES LIMITED
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COMPANY NUMBER - 1312465
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Balance sheet as at
30 April 2024
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FIXED ASSETS
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Tangible assets |
4 |
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308,894
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283,132
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Current assets
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Stocks |
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10,767
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12,100
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Debtors |
5 |
381,215
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394,512
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Cash at bank and in hand |
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22,478
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57,786
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414,460
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464,398
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Current liabilities
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Creditors - Amounts |
falling due within one year |
6 |
398,913
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422,227
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NET CURRENT ASSETS
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15,547
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42,171
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Total assets less current liabilities
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324,441
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325,303
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Creditors - Amounts falling |
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due after more than one year |
6 |
60,728
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23,653
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Provisions for liabilities
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Deferred taxation |
7 |
55,871 |
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49,447 |
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(116,599) |
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(73,100) |
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Net assets
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207,842
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252,203
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2. |
ULTRAMAG INSPECTION SERVICES LIMITED
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COMPANY NUMBER - 1312465
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Balance sheet as at
30 April 2024
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CAPITAL AND RESERVES
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Called up share capital |
8 |
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1,010
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1,010
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Profit and Loss account |
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206,832
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251,193 |
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Shareholders' funds
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207,842
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252,203
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These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies.
In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.
For the financial year ended 30 April 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.
The members have not required the company to obtain an audit.
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.
Approved by the board of directors on 6 January 2025
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and signed on their behalf by: |
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J R SIMMONDS |
C J SIMMONDS |
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Director |
Director |
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The notes on pages 3 to 5 form an integral part of these accounts.
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3. |
ULTRAMAG INSPECTION SERVICES LIMITED
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Notes to the Financial Statements
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For the year ended 30 April 2024
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1. General Information
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ULTRAMAG INSPECTION SERVICES LIMITED is a Private Company, limited by shares, domiciled in England and Wales, registration number 1312465.
The company's registered office is Unit 1 Contech House, Rushington Business Park, Rushington, Southampton, Hampshire SO40 9LT.
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2. Accounting policies
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Basis of accounting
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Turnover is measured at the fair value of the consideration received or receivable and represents goods supplied or services rendered, stated net of Value Added Tax. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.
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Tangible fixed assets and depreciation
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Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:
Building improvements - three year straight line
Plant and machinery - 15% reducing balance
Motor vehicles - 25% reducing balance
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Taxation represents the sum of tax currently payable and deferred tax.
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and corresponding tax bases used in the computation of the of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
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3. Employees
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The average number employed by the company (including directors) during the year 2024 was 20
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and in the previous year 2023 was 18.
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4. |
ULTRAMAG INSPECTION SERVICES LIMITED
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Notes to the Financial Statements
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For the year ended 30 April 2024
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4. Fixed assets - tangible
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Plant |
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Building |
and |
Motor |
Total |
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improv'ts |
machinery |
Vehicles |
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--------- |
--------- |
-------- |
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Fair value
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£
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£
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£
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£
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At 1 May 2023 |
76,622
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404,705
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80,908
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562,235 |
Additions |
-
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16,545
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74,468
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91,013 |
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At 30 April 2024 |
76,622 |
421,250 |
155,376 |
653,248 |
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Depreciation
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At 1 May 2023 |
19,885
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220,322
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38,896
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279,103 |
Charge for year |
18,910
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29,299
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17,042
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65,251 |
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At 30 April 2024 |
38,795 |
249,621 |
55,938 |
344,354 |
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Net book values
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At 30 April 2024 |
37,827 |
171,629 |
99,438 |
308,894
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At 1 May 2023 |
56,737 |
184,383 |
42,012 |
283,132 |
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5. Debtors
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Due within one year: |
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Trade debtors |
288,701
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337,728
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Prepayments and accrued income |
92,514 |
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56,784 |
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381,215
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394,512
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5. |
ULTRAMAG INSPECTION SERVICES LIMITED
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Notes to the Financial Statements
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For the year ended 30 April 2024
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Amounts falling due within one year: |
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Bank overdraft & loans |
92,709
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105,207
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Trade creditors |
106,919
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61,487
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Wages |
6,183 |
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5,745 |
Credit card |
4,727
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4,215
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Income in advance |
1,950 |
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2,448 |
Obligations under finance leases |
19,646
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9,224
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Other creditors: |
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Corporation tax |
26,490
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59,614
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Other taxation and social security |
87,184
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112,445
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Directors' current accounts |
(56) |
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2,959
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Other |
50,000
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50,000
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Accruals and deferred income |
3,161
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8,883
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398,913 |
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422,227 |
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Amounts falling due after one year: |
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Hire purchase liabilities |
60,728
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23,653
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RBS Invoice Finance Ltd holds a fixed charge dated 24 February 2015 covering all of the company's fixed assets. It also holds a floating charge, also dated 24 February 2015, that covers the remainder of the company's assets.
National Westminster Bank Plc holds a fixed and floating charge dated 29 April 2014 covering all of the company's assets.
The hire purchase liabilities are secured on the asset they are used to finance.
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7. Deferred taxation
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At 1 May 2023 |
49,447 |
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35,897 |
Charged to profit and loss account |
6,424 |
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13,550 |
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At 30 April 2024 |
55,871 |
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49,447 |
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8. Called up share capital
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There was no change in share capital during the year.
Allotted, called up and fully paid |
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Ordinary shares of £1 each
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1,010 |
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1,010 |
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