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Company Registration No. 10198071 (England and Wales)
Ultimate Modelling Products Limited Unaudited accounts for the year ended 31 March 2024
Ultimate Modelling Products Limited Unaudited accounts Contents
Page
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Ultimate Modelling Products Limited Company Information for the year ended 31 March 2024
Director
Mr Lee John Larholt
Company Number
10198071 (England and Wales)
Registered Office
91 High Street Thurlby Bourne Lincolnshire PE10 0ED England
Accountants
Vibe Accounting Ltd Unit 41 HQ Business Centre 237 Union Street Plymouth Devon PL1 3HQ
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Ultimate Modelling Products Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,724 
18,188 
Current assets
Inventories
12,000 
12,600 
Debtors
2,027 
3,300 
Cash at bank and in hand
150 
484 
14,177 
16,384 
Creditors: amounts falling due within one year
(21,870)
(26,320)
Net current liabilities
(7,693)
(9,936)
Total assets less current liabilities
7,031 
8,252 
Creditors: amounts falling due after more than one year
(18,753)
(22,432)
Provisions for liabilities
Deferred tax
(4,595)
(3,937)
Net liabilities
(16,317)
(18,117)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(16,318)
(18,118)
Shareholders' funds
(16,317)
(18,117)
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 30 December 2024 and were signed on its behalf by
Mr Lee John Larholt Director Company Registration No. 10198071
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Ultimate Modelling Products Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Ultimate Modelling Products Limited is a private company, limited by shares, registered in England and Wales, registration number 10198071. The registered office is 91 High Street, Thurlby, Bourne, Lincolnshire, PE10 0ED, England.
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. These accounts have been prepared on a going concern basis, on the understanding that the directors and shareholders will continue to financially support the company
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
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities, there were no material departures from that standard.
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 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
10% on cost
Motor vehicles
20% reducing balance
Computer equipment
33% on cost
Stock
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Ultimate Modelling Products Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
7,620 
20,771 
8,543 
36,934 
Additions
- 
- 
203 
203 
Disposals
- 
- 
(6,978)
(6,978)
At 31 March 2024
7,620 
20,771 
1,768 
30,159 
Depreciation
At 1 April 2023
2,011 
9,200 
7,535 
18,746 
Charge for the year
762 
2,315 
590 
3,667 
On disposals
- 
- 
(6,978)
(6,978)
At 31 March 2024
2,773 
11,515 
1,147 
15,435 
Net book value
At 31 March 2024
4,847 
9,256 
621 
14,724 
At 31 March 2023
5,609 
11,571 
1,008 
18,188 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,027 
2,559 
Accrued income and prepayments
- 
741 
2,027 
3,300 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
7,075 
7,899 
VAT
2,518 
764 
Obligations under finance leases and hire purchase contracts
3,037 
3,038 
Trade creditors
2,625 
2,043 
Taxes and social security
1,142 
1,831 
Other creditors
- 
350 
Loans from directors
5,473 
10,395 
21,870 
26,320 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
16,924 
17,567 
Obligations under finance leases and hire purchase contracts
1,829 
4,865 
18,753 
22,432 
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Ultimate Modelling Products Limited Notes to the Accounts for the year ended 31 March 2024
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Director's Loan Account
(10,395)
4,923 
- 
(5,472)
(10,395)
4,923 
- 
(5,472)
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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