29
01/06/2023
31/05/2024
2024-05-31
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
true
false
No description of principal activities is disclosed
2023-06-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
06582875
2023-06-01
2024-05-31
06582875
2024-05-31
06582875
2023-05-31
06582875
2022-06-01
2023-05-31
06582875
2023-05-31
06582875
2022-05-31
06582875
core:NetGoodwill
2023-06-01
2024-05-31
06582875
core:LandBuildings
core:ShortLeaseholdAssets
2023-06-01
2024-05-31
06582875
core:FurnitureFittingsToolsEquipment
2023-06-01
2024-05-31
06582875
bus:RegisteredOffice
2023-06-01
2024-05-31
06582875
bus:OrdinaryShareClass1
2023-06-01
2024-05-31
06582875
bus:LeadAgentIfApplicable
2023-06-01
2024-05-31
06582875
bus:Director1
2023-06-01
2024-05-31
06582875
bus:Director2
2023-06-01
2024-05-31
06582875
bus:CompanySecretary1
2023-06-01
2024-05-31
06582875
core:NetGoodwill
2023-05-31
06582875
core:NetGoodwill
2024-05-31
06582875
core:LandBuildings
core:LongLeaseholdAssets
2023-05-31
06582875
core:PlantMachinery
2023-05-31
06582875
core:FurnitureFittingsToolsEquipment
2023-05-31
06582875
core:MotorVehicles
2023-05-31
06582875
core:LandBuildings
core:LongLeaseholdAssets
2024-05-31
06582875
core:PlantMachinery
2024-05-31
06582875
core:FurnitureFittingsToolsEquipment
2024-05-31
06582875
core:MotorVehicles
2024-05-31
06582875
core:WithinOneYear
2024-05-31
06582875
core:WithinOneYear
2023-05-31
06582875
core:AfterOneYear
2024-05-31
06582875
core:AfterOneYear
2023-05-31
06582875
core:UKTax
2023-06-01
2024-05-31
06582875
core:UKTax
2022-06-01
2023-05-31
06582875
bus:AllOrdinaryShares
2023-06-01
2024-05-31
06582875
bus:AllOrdinaryShares
2022-06-01
2023-05-31
06582875
core:RetainedEarningsAccumulatedLosses
2023-05-31
06582875
core:RetainedEarningsAccumulatedLosses
2022-05-31
06582875
core:RetainedEarningsAccumulatedLosses
2024-05-31
06582875
core:RetainedEarningsAccumulatedLosses
2023-05-31
06582875
core:ShareCapital
2024-05-31
06582875
core:ShareCapital
2023-05-31
06582875
bus:OrdinaryShareClass1
core:ShareCapital
2024-05-31
06582875
bus:OrdinaryShareClass1
core:ShareCapital
2023-05-31
06582875
core:BetweenOneFiveYears
2023-05-31
06582875
core:DeferredTaxation
2023-06-01
2024-05-31
06582875
core:LandBuildings
core:LongLeaseholdAssets
2023-06-01
2024-05-31
06582875
core:PlantMachinery
2023-06-01
2024-05-31
06582875
core:MotorVehicles
2023-06-01
2024-05-31
06582875
core:NetGoodwill
2023-05-31
06582875
core:CostValuation
core:Non-currentFinancialInstruments
2023-05-31
06582875
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2024-05-31
06582875
core:CostValuation
core:Non-currentFinancialInstruments
2024-05-31
06582875
core:Non-currentFinancialInstruments
2024-05-31
06582875
core:Non-currentFinancialInstruments
2023-05-31
06582875
core:AcceleratedTaxDepreciationDeferredTax
2024-05-31
06582875
core:AcceleratedTaxDepreciationDeferredTax
2023-05-31
06582875
core:LandBuildings
core:LongLeaseholdAssets
2023-05-31
06582875
core:PlantMachinery
2023-05-31
06582875
core:FurnitureFittingsToolsEquipment
2023-05-31
06582875
core:MotorVehicles
2023-05-31
06582875
core:DeferredTaxation
2023-05-31
06582875
core:DeferredTaxation
2024-05-31
06582875
bus:Director1
2023-05-31
06582875
bus:Director1
2024-05-31
06582875
bus:Director2
2023-05-31
06582875
bus:Director2
2024-05-31
06582875
bus:Director1
2022-05-31
06582875
bus:Director1
2023-05-31
06582875
bus:Director2
2022-05-31
06582875
bus:Director2
2023-05-31
06582875
bus:Director1
2022-06-01
2023-05-31
06582875
bus:Director2
2022-06-01
2023-05-31
06582875
bus:SmallEntities
2023-06-01
2024-05-31
06582875
bus:AuditExemptWithAccountantsReport
2023-06-01
2024-05-31
06582875
bus:SmallCompaniesRegimeForAccounts
2023-06-01
2024-05-31
06582875
bus:PrivateLimitedCompanyLtd
2023-06-01
2024-05-31
06582875
bus:FullAccounts
2023-06-01
2024-05-31
06582875
core:Subsidiary1
2023-06-01
2024-05-31
06582875
core:Subsidiary1
core:ManagementRechargesServices
2023-06-01
2024-05-31
06582875
core:Subsidiary1
core:ManagementRechargesServices
2022-06-01
2023-05-31
06582875
core:Subsidiary1
core:AdministrativeServices
2023-06-01
2024-05-31
06582875
core:Subsidiary1
core:AdministrativeServices
2022-06-01
2023-05-31
06582875
core:Subsidiary2
2023-06-01
2024-05-31
06582875
core:Subsidiary2
core:SaleOrPurchaseGoods
2023-06-01
2024-05-31
06582875
core:Subsidiary2
core:SaleOrPurchaseGoods
2022-06-01
2023-05-31
06582875
core:Subsidiary2
core:AdministrativeServices
2023-06-01
2024-05-31
06582875
core:Subsidiary2
core:AdministrativeServices
2022-06-01
2023-05-31
06582875
core:Subsidiary1
2024-05-31
06582875
core:Subsidiary1
2023-05-31
06582875
core:Subsidiary2
2024-05-31
06582875
core:Subsidiary2
2023-05-31
06582875
core:Subsidiary1
core:RentalExpenseTransactions
2023-06-01
2024-05-31
06582875
1
2023-06-01
2024-05-31
Company registration number:
06582875
Ultracomida Limited
Unaudited financial statements
31 May 2024
Ultracomida Limited
Contents
Directors and other information
Directors report
Accountants report
Statement of income and retained earnings
Statement of financial position
Notes to the financial statements
Ultracomida Limited
Directors and other information
|
|
|
|
Directors |
Mr PW Grimwood |
|
|
Ms S Palit |
|
|
|
|
|
|
|
Secretary |
Mr P W Grimwood |
|
|
|
|
|
|
|
Company number |
06582875 |
|
|
|
|
|
|
|
Registered office |
31 Pier Street |
|
|
Aberystwyth |
|
|
Ceredigion |
|
|
SY23 2LN |
|
|
|
|
|
|
|
Business address |
31 Pier Street |
|
|
Aberystwyth |
|
|
Ceredigion |
|
|
SY23 2LN |
|
|
|
|
|
|
|
Accountants |
Davies Lewis Baker |
|
|
31 Bridge Street |
|
|
Aberystwyth |
|
|
Ceredigion |
|
|
SY23 1QB |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers |
Barclays Bank PLC |
|
|
26 Terrace Road |
|
|
Aberystwyth |
|
|
Ceredigion |
|
|
SY23 2AE |
|
|
|
Ultracomida Limited
Directors report
Year ended 31 May 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 May 2024.
Directors
The directors who served the company during the year were as follows:
|
Mr PW Grimwood |
Ms S Palit |
|
Particulars of recommended dividends are detailed in note 7 to the unaudited financial statements.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
14 February 2025
and signed on behalf of the board by:
Mr P W Grimwood
Secretary
Ultracomida Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Ultracomida Limited
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ultracomida Limited for the year ended 31 May 2024 which comprise the statement of income and retained earnings, statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/ gb/en/about-us/regulation/rulebook.html.
This report is made solely to the board of directors of Ultracomida Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Ultracomida Limited and state those matters that we have agreed to state to the board of directors of Ultracomida Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ultracomida Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Ultracomida Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ultracomida Limited. You consider that Ultracomida Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Ultracomida Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Davies Lewis Baker
Chartered Certified Accountants
31 Bridge Street
Aberystwyth
Ceredigion
SY23 1QB
14 February 2025
Ultracomida Limited
Statement of income and retained earnings
Year ended 31 May 2024
|
|
|
|
2024 |
|
2023 |
|
|
|
|
Note |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Turnover |
|
|
|
1,564,056 |
|
1,494,843 |
|
|
Cost of sales |
|
|
|
(
689,274) |
|
(
649,465) |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
Gross profit |
|
|
|
874,782 |
|
845,378 |
|
|
|
|
|
|
|
|
|
|
|
Administrative expenses |
|
|
|
(
797,289) |
|
(
802,351) |
|
|
Other operating income |
|
|
|
5,406 |
|
4,860 |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
Operating profit |
|
|
|
82,899 |
|
47,887 |
|
|
|
|
|
|
|
|
|
|
|
Interest payable and similar expenses |
|
|
|
(
11,051) |
|
(
11,108) |
|
|
Profit before taxation |
|
5 |
|
71,848 |
|
36,779 |
|
|
|
|
|
|
|
|
|
|
|
Tax on profit |
|
6 |
|
(
20,419) |
|
(
14,246) |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
Profit for the financial year and total comprehensive income |
|
|
|
51,429 |
|
22,533 |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
Dividends declared and paid or payable during the year |
|
7 |
|
(
36,427) |
|
(
25,000) |
|
|
|
|
|
|
|
|
|
|
|
Retained earnings at the start of the year |
|
|
|
280,472 |
|
282,936 |
|
|
|
|
|
|
_______ |
|
_______ |
|
|
Retained earnings at the end of the year |
|
|
|
295,474 |
|
280,469
|
|
|
|
|
|
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
All the activities of the company are from continuing operations.
Ultracomida Limited
Statement of financial position
31 May 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
8 |
84,000 |
|
|
|
105,000 |
|
|
Tangible assets |
|
9 |
109,381 |
|
|
|
131,762 |
|
|
Investments |
|
10 |
510,973 |
|
|
|
310,973 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
704,354 |
|
|
|
547,735 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
93,000 |
|
|
|
93,000 |
|
|
Debtors |
|
11 |
569,524 |
|
|
|
624,166 |
|
|
Cash at bank and in hand |
|
|
4,025 |
|
|
|
11,625 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
666,549 |
|
|
|
728,791 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
12 |
(
364,445) |
|
|
|
(
175,808) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
302,104 |
|
|
|
552,983 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
1,006,458 |
|
|
|
1,100,718 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
13 |
|
|
(
93,024) |
|
|
|
(
198,549) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
14 |
|
|
(
17,960) |
|
|
|
(
21,700) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
895,474 |
|
|
|
880,469 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
16 |
|
|
600,000 |
|
|
|
600,000 |
Profit and loss account |
|
|
|
|
295,474 |
|
|
|
280,469
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
895,474 |
|
|
|
880,469 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the
board of directors
and authorised for issue on
14 February 2025
, and are signed on behalf of the board by:
Mr PW Grimwood
Ms S Palit
Director
Director
Company registration number:
06582875
Ultracomida Limited
Notes to the financial statements
Year ended 31 May 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 31 Pier Street, Aberystwyth, Ceredigion, SY23 2LN.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Goodwill |
- |
5 % |
straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Short leasehold property |
- |
5 % |
straight line |
|
Fittings fixtures and equipment |
- |
10 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised using the accrual model.Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
29
(2023:
33
).
5.
Profit before taxation
Profit before taxation is stated after charging/(crediting):
|
|
|
|
2024 |
2023 |
|
|
|
|
£ |
£ |
|
Amortisation of intangible assets |
|
|
21,000 |
21,000 |
|
Depreciation of tangible assets |
|
|
25,953 |
26,712 |
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
6.
Tax on profit
Major components of tax expense
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Current tax: |
|
|
|
|
UK current tax expense |
|
24,159 |
11,738 |
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Deferred tax: |
|
|
|
|
Origination and reversal of timing differences |
|
(
3,740) |
2,508 |
|
|
|
_______ |
_______ |
|
Tax on profit |
|
20,419 |
14,246 |
|
|
|
_______ |
_______ |
|
|
|
|
|
A payment equivalent to the above tax charge of £24,159 (2023: £11,738) has been made to a subsidiary company for group relief, rather than a payment for Corporation Tax to HM Revenue & Customs.
7.
Dividends
Equity dividends
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) |
|
36,427 |
25,000 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Dividends of £18,214 each (2023: £12,500) were paid to the directors,
Mr P W Grimwood
and Ms S Palit
.
8.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 June 2023 and 31 May 2024 |
420,000 |
420,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 June 2023 |
315,000 |
315,000 |
|
|
|
|
|
Charge for the year |
21,000 |
21,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 May 2024 |
336,000 |
336,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 May 2024 |
84,000 |
84,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 May 2023 |
105,000 |
105,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
9.
Tangible assets
|
|
Long leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 June 2023 |
140,588 |
1,190 |
216,860 |
22,000 |
380,638 |
|
|
|
Additions |
- |
- |
3,572 |
- |
3,572 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 May 2024 |
140,588 |
1,190 |
220,432 |
22,000 |
384,210 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 June 2023 |
95,628 |
694 |
143,020 |
9,533 |
248,875 |
|
|
|
Charge for the year |
7,419 |
238 |
13,897 |
4,400 |
25,954 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 May 2024 |
103,047 |
932 |
156,917 |
13,933 |
274,829 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 May 2024 |
37,541 |
258 |
63,515 |
8,067 |
109,381 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 May 2023 |
44,960 |
496 |
73,840 |
12,467 |
131,763
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
10.
Investments
|
|
Shares in group undertakings and participating interests |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 June 2023 |
310,973 |
310,973 |
|
|
|
|
|
Additions |
200,000 |
200,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 May 2024 |
510,973 |
510,973 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1 June 2023 and 31 May 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 May 2024 |
510,973 |
510,973 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 May 2023 |
310,973 |
310,973 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
11.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
470,082 |
520,333 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
67,556 |
94,814 |
|
Other debtors |
|
31,886 |
9,019 |
|
|
|
_______ |
_______ |
|
|
|
569,524 |
624,166 |
|
|
|
_______ |
_______ |
|
|
|
|
|
12.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
105,637 |
105,690 |
|
Trade creditors |
|
214,819 |
12,630 |
|
Social security and other taxes |
|
36,955 |
29,786 |
|
Other creditors |
|
7,034 |
27,702 |
|
|
|
_______ |
_______ |
|
|
|
364,445 |
175,808 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Barclays Bank PLC have a fixed and floating charge over the assets of the company in respect of any borrowings. At the year end the total outstanding to Barclays was £113 (2023: £166). Dbw Investments (10) Limited, Development Bank of Wales, also have a fixed and floating charge over all the property or undertakings of the company in respect of borrowings totalling £111,049 (2023: £166,573).
13.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
55,524 |
111,049 |
|
Other creditors |
|
37,500 |
87,500 |
|
|
|
_______ |
_______ |
|
|
|
93,024 |
198,549 |
|
|
|
_______ |
_______ |
|
|
|
|
|
14.
Provisions
|
|
Deferred tax (note 15) |
Total |
|
|
|
|
|
£ |
£ |
|
|
|
|
At 1 June 2023 |
21,700 |
21,700 |
|
|
|
|
Charges against provisions |
(
3,740) |
(
3,740) |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
At 31 May 2024 |
17,960 |
17,960 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
15.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Included in provisions (note 14) |
|
17,960 |
21,700 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Accelerated capital allowances |
|
17,960 |
21,700 |
|
|
|
_______ |
_______ |
|
|
|
|
|
16.
Called up share capital
Issued, called up and fully paid
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares shares of £
1.00 each |
|
600,000 |
|
600,000 |
|
600,000 |
|
600,000 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
17.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
Not later than 1 year |
3,666 |
9,098 |
Later than 1 year and not later than 5 years |
- |
3,666 |
|
_______ |
_______ |
|
3,666 |
12,764 |
|
_______ |
_______ |
|
|
|
18.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr PW Grimwood |
(
5,024) |
10,000 |
5,024 |
10,000 |
|
|
|
Ms S Palit |
(
5,023) |
10,000 |
5,023 |
10,000 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
(
10,047) |
20,000 |
10,047 |
20,000 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr PW Grimwood |
(
168) |
(
8,518) |
3,662 |
(
5,024) |
|
|
|
Ms S Palit |
(
167) |
(
8,518) |
3,662 |
(
5,023) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
(
335) |
(
17,036) |
7,324 |
(
10,047) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
19.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
Curado Bar Limited |
- |
- |
232,898 |
151,217 |
|
Management fees receivable |
36,000 |
36,400 |
- |
- |
|
Wages rechargeable |
40,255 |
39,890 |
- |
- |
|
Ultracomida Trading Co. Limited |
- |
- |
92,632 |
458,674 |
|
Stock purchases |
575,957 |
514,939 |
- |
- |
|
Wages rechargeable |
40,255 |
39,890 |
- |
- |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
During the year the company paid commercial rent to the directors totalling £77,500 (2023: £66,000). Ultracomida Trading Co. Limited is a wholly owned subsidiary of
Ultracomida Limited
. Curado Bar Limited is also a subsidiary of Ultracomida Limited
.
20.
Controlling party
The company is controlled by the directors,
Mr PW Grimwood
and Ms S Palit
.