Company Registration No. 08727181 (England and Wales)
ULTERICO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
ULTERICO LIMITED
COMPANY INFORMATION
Director
Mrs Jill Roberts
Company number
08727181
Registered office
The Haven
Narrow Lane
Calcoed Brynford
Holywell
Flintshire
United Kingdom
CH8 8LH
Accountants
Azets
First Floor
Unit 55 Ffordd William Morgan
St Asaph Business Park
St Asaph
United Kingdom
LL17 0JG
ULTERICO LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ULTERICO LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
166,274
184,339
Current assets
Debtors
4
25,190
18,000
Cash at bank and in hand
1,807
7,957
26,997
25,957
Creditors: amounts falling due within one year
5
(182,254)
(199,880)
Net current liabilities
(155,257)
(173,923)
Total assets less current liabilities
11,017
10,416
Provisions for liabilities
6
(14,698)
(10,043)
Net (liabilities)/assets
(3,681)
373
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(3,682)
372
Total equity
(3,681)
373

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 29 January 2025
Mrs Jill Roberts
Director
Company Registration No. 08727181
ULTERICO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

Ulterico Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Haven, Narrow Lane, Calcoed Brynford, Holywell, Flintshire, United Kingdom, CH8 8LH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales of services, excluding VAT, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
10% straight line
Computers
25% striaght line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

ULTERICO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. As all financial assets are classified within one year, they are not amortised but carried at face value.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price. Financial liabilities classified as payable within one year are carried at face value.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and continue to be measured at face value.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ULTERICO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 November 2023
205,450
935
206,385
Additions
3,765
-
0
3,765
Disposals
(1,000)
-
0
(1,000)
At 31 October 2024
208,215
935
209,150
Depreciation and impairment
At 1 November 2023
21,890
156
22,046
Depreciation charged in the year
20,738
234
20,972
Eliminated in respect of disposals
(142)
-
0
(142)
At 31 October 2024
42,486
390
42,876
Carrying amount
At 31 October 2024
165,729
545
166,274
At 31 October 2023
183,560
779
184,339
ULTERICO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
15,850
18,000
Other debtors
9,340
-
0
25,190
18,000
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
840
Taxation and social security
2,776
2,719
Other creditors
179,478
196,321
182,254
199,880

At the Balance Sheet date there is an amount owed to the Director of £177,551 (2023: £195,551).

The balance is interest free and repayable on demand.

6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
14,698
10,043
2024-10-312023-11-01false29 January 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMrs Jill Robertsfalsefalse087271812023-11-012024-10-3108727181bus:Director12023-11-012024-10-3108727181bus:RegisteredOffice2023-11-012024-10-31087271812024-10-31087271812023-10-3108727181core:PlantMachinery2024-10-3108727181core:ComputerEquipment2024-10-3108727181core:PlantMachinery2023-10-3108727181core:ComputerEquipment2023-10-3108727181core:CurrentFinancialInstrumentscore:WithinOneYear2024-10-3108727181core:CurrentFinancialInstrumentscore:WithinOneYear2023-10-3108727181core:CurrentFinancialInstruments2024-10-3108727181core:CurrentFinancialInstruments2023-10-3108727181core:ShareCapital2024-10-3108727181core:ShareCapital2023-10-3108727181core:RetainedEarningsAccumulatedLosses2024-10-3108727181core:RetainedEarningsAccumulatedLosses2023-10-3108727181core:PlantMachinery2023-11-012024-10-3108727181core:ComputerEquipment2023-11-012024-10-31087271812022-11-012023-10-3108727181core:PlantMachinery2023-10-3108727181core:ComputerEquipment2023-10-31087271812023-10-3108727181core:WithinOneYear2024-10-3108727181core:WithinOneYear2023-10-3108727181bus:PrivateLimitedCompanyLtd2023-11-012024-10-3108727181bus:SmallCompaniesRegimeForAccounts2023-11-012024-10-3108727181bus:FRS1022023-11-012024-10-3108727181bus:AuditExemptWithAccountantsReport2023-11-012024-10-3108727181bus:FullAccounts2023-11-012024-10-31xbrli:purexbrli:sharesiso4217:GBP