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Registration number: 07009087

The Ultimate Promotion Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

The Ultimate Promotion Company Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

The Ultimate Promotion Company Limited

Company Information
__________________________________________________________________________

Directors

Mrs JM Harris

Mr MB Harris

Registered office

Abbey House
342 Regents Park Road
London
N3 2LJ


 

Accountants

Brooks Green
Chartered AccountantsAbbey House
342 Regents Park Road
London
N3 2LJ

 

The Ultimate Promotion Company Limited

(Registration number: 07009087)
Balance Sheet as at 31 October 2024
__________________________________________________________________________

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

3

 

36,381

 

38,863

Current assets

   

 

Stocks

4

5,688

 

5,827

 

Debtors

5

225,085

 

270,565

 

Cash at bank and in hand

 

140,407

 

58,729

 

 

371,180

 

335,121

 

Creditors: Amounts falling due within one year

6

(69,734)

 

(66,843)

 

Net current assets

   

301,446

 

268,278

Total assets less current liabilities

   

337,827

 

307,141

Creditors: Amounts falling due after more than one year

6

 

(21,792)

 

(31,868)

Provisions for liabilities

 

(9,230)

 

(9,716)

Net assets

   

306,805

 

265,557

Capital and reserves

   

 

Called up share capital

7

100

 

100

 

Retained earnings

306,705

 

265,457

 

Shareholders' funds

   

306,805

 

265,557

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 

 

The Ultimate Promotion Company Limited

(Registration number: 07009087)
Balance Sheet as at 31 October 2024
__________________________________________________________________________

.........................................
Mrs JM Harris
Director

 

The Ultimate Promotion Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and eqiuipment

25% reducing balance

 

The Ultimate Promotion Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
__________________________________________________________________________

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

The Ultimate Promotion Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
__________________________________________________________________________

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

 

The Ultimate Promotion Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
__________________________________________________________________________

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2023

144,135

144,135

Additions

9,645

9,645

At 31 October 2024

153,780

153,780

Depreciation

At 1 November 2023

105,272

105,272

Charge for the year

12,127

12,127

At 31 October 2024

117,399

117,399

Carrying amount

At 31 October 2024

36,381

36,381

At 31 October 2023

38,863

38,863

4

Stocks

2024
£

2023
£

Finished goods and goods for resale

5,688

5,827

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

57,797

103,276

Amounts owed by related parties

166,672

166,672

Prepayments

 

516

517

Other debtors

 

100

100

   

225,085

270,565

 

The Ultimate Promotion Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024
__________________________________________________________________________

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

40,410

43,171

Taxation and social security

26,058

20,203

Accruals and deferred income

2,500

2,500

Other creditors

766

969

69,734

66,843

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

21,792

31,868

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

21,792

31,868