Ulysses House Limited 09866222 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is commercial property rental. Digita Accounts Production Advanced 6.30.9574.0 true 09866222 2024-01-01 2024-12-31 09866222 2024-12-31 09866222 core:RetainedEarningsAccumulatedLosses 2024-12-31 09866222 core:RevaluationReserve 2024-12-31 09866222 core:ShareCapital 2024-12-31 09866222 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 09866222 bus:SmallEntities 2024-01-01 2024-12-31 09866222 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 09866222 bus:FullAccounts 2024-01-01 2024-12-31 09866222 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 09866222 bus:RegisteredOffice 2024-01-01 2024-12-31 09866222 bus:Director2 2024-01-01 2024-12-31 09866222 bus:Director3 2024-01-01 2024-12-31 09866222 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09866222 countries:EnglandWales 2024-01-01 2024-12-31 09866222 2023-12-31 09866222 2023-01-01 2023-12-31 09866222 2023-12-31 09866222 core:RetainedEarningsAccumulatedLosses 2023-12-31 09866222 core:RevaluationReserve 2023-12-31 09866222 core:ShareCapital 2023-12-31 09866222 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 09866222

Ulysses House Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Ulysses House Limited
(Registration number: 09866222)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Ulysses House Limited
(Registration number: 09866222)

Company Information

Directors

Mr M J Laurenti

Mrs C Laurenti

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Ulysses House Limited
(Registration number: 09866222)

Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

275,000

275,000

Current assets

 

Cash at bank and in hand

 

4,155

19,590

Creditors: Amounts falling due within one year

5

(54,540)

(93,825)

Net current liabilities

 

(50,385)

(74,235)

Total assets less current liabilities

 

224,615

200,765

Provisions for liabilities

(14,077)

(14,077)

Net assets

 

210,538

186,688

Capital and reserves

 

Called up share capital

100

100

Non-distributable reserve

56,539

56,539

Profit and loss account

153,899

130,049

Total equity

 

210,538

186,688

For the financial year ending 31 December 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 March 2025 and signed on its behalf by:
 

.........................................
Mr M J Laurenti
Director

 

Ulysses House Limited
(Registration number: 09866222)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

 

Ulysses House Limited
(Registration number: 09866222)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

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 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Ulysses House Limited
(Registration number: 09866222)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Investment properties

2024
£

At 1 January

275,000

At 31 December

275,000

The property was valued by the Directors at £275,000 (2023: £275,000) as at the year end.

5

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

5,594

10,101

Other creditors

46,666

80,844

Accrued expenses

2,280

2,880

54,540

93,825