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Registered number: 15316103










ULTIMATE POTENTIAL LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 NOVEMBER 2024

 
ULTIMATE POTENTIAL LTD
 

CONTENTS



Page
Balance Sheet
 
1
Statement of Changes in Equity
 
2
Notes to the Financial Statements
 
3 - 4


 
ULTIMATE POTENTIAL LTD
REGISTERED NUMBER: 15316103

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
Note
£

  

Current assets
  

Debtors
 4 
91,552

Cash at bank and in hand
  
31,595

  
123,147

Creditors: amounts falling due within one year
 5 
(34,698)

Net current assets
  
 
 
88,449

  

Net assets
  
88,449


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
88,448

  
88,449


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 May 2025.




P E Delbridge
Director

The notes on pages 3 to 4 form part of these financial statements.

Page 1

 
ULTIMATE POTENTIAL LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 NOVEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Profit for the period
-
88,448
88,448


Contributions by and distributions to owners

Shares issued during the period
1
-
1


At 30 November 2024
1
88,448
88,449

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
ULTIMATE POTENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

1.


General information

Ultimate Potential Ltd (the company) is a private company limited by shares, incorporated and domiciled in England. The address of its registered office is 3rd Floor, 86-90 Paul Street, London, EC2A 4NE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
ULTIMATE POTENTIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 1.


4.


Debtors

2024
£


Amounts owed by related parties
78,982

Other debtors
12,570

91,552



5.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
1,971

Corporation tax
29,477

Accruals and deferred income
3,250

34,698


 
Page 4