Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-3012023-05-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10708823 2023-05-01 2024-04-30 10708823 2022-05-01 2023-04-30 10708823 2024-04-30 10708823 2023-04-30 10708823 c:Director3 2023-05-01 2024-04-30 10708823 d:CurrentFinancialInstruments 2024-04-30 10708823 d:CurrentFinancialInstruments 2023-04-30 10708823 d:Non-currentFinancialInstruments 2024-04-30 10708823 d:Non-currentFinancialInstruments 2023-04-30 10708823 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10708823 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10708823 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 10708823 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 10708823 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 10708823 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 10708823 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 10708823 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 10708823 d:ShareCapital 2024-04-30 10708823 d:ShareCapital 2023-04-30 10708823 d:RetainedEarningsAccumulatedLosses 2024-04-30 10708823 d:RetainedEarningsAccumulatedLosses 2023-04-30 10708823 c:FRS102 2023-05-01 2024-04-30 10708823 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10708823 c:FullAccounts 2023-05-01 2024-04-30 10708823 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10708823 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 10708823









ULTRATEK RACING LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
ULTRATEK RACING LTD
REGISTERED NUMBER: 10708823

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
39,024
22,105

Cash at bank and in hand
  
5
1,564

  
39,029
23,669

Creditors: amounts falling due within one year
 5 
(132,678)
(108,811)

Net current liabilities
  
 
 
(93,649)
 
 
(85,142)

Total assets less current liabilities
  
(93,649)
(85,142)

Creditors: amounts falling due after more than one year
 6 
(6,720)
(15,442)

  

Net liabilities
  
(100,369)
(100,584)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(100,469)
(100,684)

  
(100,369)
(100,584)


Page 1

 
ULTRATEK RACING LTD
REGISTERED NUMBER: 10708823
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 January 2025.



A K Plowman
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
ULTRATEK RACING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the
United Kingdom, registration number 10708823. The Company's registered office is Unit 22 Watling Street, Two Gates Trading Estate, Tamworth, England, B77 5AE.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ULTRATEK RACING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
ULTRATEK RACING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Debtors

2024
2023
£
£


Other debtors
39,024
22,105

39,024
22,105



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
8,000
8,000

Other creditors
124,048
99,611

Accruals and deferred income
630
1,200

132,678
108,811



6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,720
15,442

6,720
15,442


Page 5

 
ULTRATEK RACING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
8,000
8,000


8,000
8,000

Amounts falling due 1-2 years

Bank loans
6,720
8,000


6,720
8,000

Amounts falling due 2-5 years

Bank loans
-
7,442


-
7,442


14,720
23,442


 
Page 6