2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 05185903 2023-08-01 2024-07-31 05185903 2024-07-31 05185903 2023-07-31 05185903 2022-08-01 2023-07-31 05185903 2023-07-31 05185903 2022-07-31 05185903 bus:Director1 2023-08-01 2024-07-31 05185903 core:PlantMachinery 2023-07-31 05185903 core:PlantMachinery 2024-07-31 05185903 core:PlantMachinery 2023-08-01 2024-07-31 05185903 core:WithinOneYear 2024-07-31 05185903 core:WithinOneYear 2023-07-31 05185903 core:ShareCapital 2024-07-31 05185903 core:ShareCapital 2023-07-31 05185903 core:RetainedEarningsAccumulatedLosses 2024-07-31 05185903 core:RetainedEarningsAccumulatedLosses 2023-07-31 05185903 core:PlantMachinery 2023-07-31 05185903 bus:SmallEntities 2023-08-01 2024-07-31 05185903 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 05185903 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 05185903 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 05185903 bus:FullAccounts 2023-08-01 2024-07-31 05185903 core:ComputerEquipment 2023-08-01 2024-07-31 05185903 core:ComputerEquipment 2023-07-31 05185903 core:ComputerEquipment 2024-07-31
COMPANY REGISTRATION NUMBER: 05185903
NIL PLUS ULTRA VENTURES LIMITED
Filleted Unaudited Financial Statements
31 July 2024
NIL PLUS ULTRA VENTURES LIMITED
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
15,083
16,341
Current assets
Cash at bank and in hand
143,476
28,983
Creditors: amounts falling due within one year
6
98,235
33,784
---------
--------
Net current assets/(liabilities)
45,241
( 4,801)
--------
--------
Total assets less current liabilities
60,324
11,540
Provisions
Taxation including deferred tax
3,771
3,298
--------
--------
Net assets
56,553
8,242
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
56,551
8,240
--------
-------
Shareholders funds
56,553
8,242
--------
-------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NIL PLUS ULTRA VENTURES LIMITED
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 25 April 2025 , and are signed on behalf of the board by:
R. A. FEDDER
Director
Company registration number: 05185903
NIL PLUS ULTRA VENTURES LIMITED
Notes to the Financial Statements
Year ended 31 July 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 4th Floor, 58-59 Great Marlborough Street, London, W1F 7JY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, in respect of the principal activity.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant & Machinery
-
15 years Straight line
Office Equipment
-
20% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 August 2023
29,196
11,984
41,180
Additions
1,540
1,540
--------
--------
--------
At 31 July 2024
29,196
13,524
42,720
--------
--------
--------
Depreciation
At 1 August 2023
15,571
9,268
24,839
Charge for the year
1,947
851
2,798
--------
--------
--------
At 31 July 2024
17,518
10,119
27,637
--------
--------
--------
Carrying amount
At 31 July 2024
11,678
3,405
15,083
--------
--------
--------
At 31 July 2023
13,625
2,716
16,341
--------
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
71,347
19,051
Social security and other taxes
15,754
4,179
Other creditors- Overpayment
59
59
Other creditors
11,075
10,495
--------
--------
98,235
33,784
--------
--------
Other creditors include director's loan of £8,702 (2023: £8,711) which is unsecured, interest free and repayable on demand.