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REGISTERED NUMBER: 03213441 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

THE ULTIMATE PARTY SHOP LIMITED

THE ULTIMATE PARTY SHOP LIMITED (REGISTERED NUMBER: 03213441)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE ULTIMATE PARTY SHOP LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTORS: Mr J Clingan
Mrs G M Clingan
Miss S Clingan
Miss J Clingan
Mrs C Stevens





SECRETARY: Mr J Clingan





REGISTERED OFFICE: 68 Regent Street
Cheltenham
GL50 1HA





REGISTERED NUMBER: 03213441 (England and Wales)





ACCOUNTANTS: Kingscott Dix (Cheltenham) Limited
7 Rockfield Business Park
Old Station Drive
Leckhampton
Cheltenham
GL53 0AN

THE ULTIMATE PARTY SHOP LIMITED (REGISTERED NUMBER: 03213441)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,717 2,306

CURRENT ASSETS
Stocks 29,000 28,655
Debtors 5 19,143 31,089
Cash at bank and in hand 7,893 18,256
56,036 78,000
CREDITORS
Amounts falling due within one year 6 (125,453 ) (135,989 )
NET CURRENT LIABILITIES (69,417 ) (57,989 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(67,700

)

(55,683

)

CREDITORS
Amounts falling due after more than one
year

7

(48,542

)

(61,327

)
NET LIABILITIES (116,242 ) (117,010 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (116,342 ) (117,110 )
SHAREHOLDERS' FUNDS (116,242 ) (117,010 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

THE ULTIMATE PARTY SHOP LIMITED (REGISTERED NUMBER: 03213441)

BALANCE SHEET - continued
30 June 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by:





Mrs C Stevens - Director


THE ULTIMATE PARTY SHOP LIMITED (REGISTERED NUMBER: 03213441)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

The Ultimate Party Shop 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The company had net liabilities at 30 June 2021 and is reliant on the support of the directors. It is the intention of the directors to support the company for the foreseeable future and therefore these accounts have been prepared on a going concern basis.

Significant judgements and estimates
The directors are of the opinion that there are no significant judgements or estimations used in preparing the financial statements.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 10 years
Office Equipment - 25% on reducing balance and 10% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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 Profit and loss account, 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.


THE ULTIMATE PARTY SHOP LIMITED (REGISTERED NUMBER: 03213441)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

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 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Office and Motor
leasehold Equipment fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2023
and 30 June 2024 15,000 90,972 45,064 7,500 158,536
DEPRECIATION
At 1 July 2023 15,000 89,711 44,056 7,463 156,230
Charge for year - 391 184 14 589
At 30 June 2024 15,000 90,102 44,240 7,477 156,819
NET BOOK VALUE
At 30 June 2024 - 870 824 23 1,717
At 30 June 2023 - 1,261 1,008 37 2,306

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 12,048 11,186
Prepayments 7,095 19,903
19,143 31,089

THE ULTIMATE PARTY SHOP LIMITED (REGISTERED NUMBER: 03213441)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,016 5,247
Trade creditors 8,901 27,362
Social security and other taxes 5,657 4,179
Other creditors 7,845 -
Directors' current accounts 95,877 95,877
Accrued expenses 3,157 3,324
125,453 135,989

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 24,190 26,975
Other creditors 24,352 34,352
48,542 61,327

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 32,000 32,000
Between one and five years 36,000 68,000
68,000 100,000

9. RELATED PARTY DISCLOSURES

A loan of £20,502 (2023 £30,502) is shown in other creditors due to Farm House Cooked Meats Limited.


This is a company in which Mr J Clingan and Miss J Clingan are shareholders and directors.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who own 100% of the share capital.