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REGISTERED NUMBER: 01068776 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

ULVERSCROFT LIMITED

ULVERSCROFT LIMITED (REGISTERED NUMBER: 01068776)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ULVERSCROFT LIMITED

COMPANY INFORMATION
for the year ended 31 October 2024







DIRECTOR: M L Petty



REGISTERED OFFICE: The Green
Bradgate Road
Anstey
Leicester
Leicestershire
LE7 7FU



REGISTERED NUMBER: 01068776 (England and Wales)



AUDITORS: HB&O Ltd
Chartered Accountants and Statutory Auditors
Seven Stars House
1 Wheler Road
Coventry
CV3 4LB



BANKERS: Barclays Bank PLC
1-3 Haymarket Tower
Leicester
LE1 1WA

ULVERSCROFT LIMITED (REGISTERED NUMBER: 01068776)

BALANCE SHEET
31 October 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 55,885 39,089
Tangible assets 5 73,685 80,523
129,570 119,612

CURRENT ASSETS
Stocks 742,893 885,253
Debtors 6 1,553,054 1,700,860
Cash at bank and in hand 635,284 934,861
2,931,231 3,520,974
CREDITORS
Amounts falling due within one year 7 5,270,878 4,922,025
NET CURRENT LIABILITIES (2,339,647 ) (1,401,051 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,210,077

)

(1,281,439

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,210,177 ) (1,281,539 )
(2,210,077 ) (1,281,439 )

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 June 2025 and were signed by:





M L Petty - Director


ULVERSCROFT LIMITED (REGISTERED NUMBER: 01068776)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 October 2024

1. STATUTORY INFORMATION

Ulverscroft Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when significant risks and rewards have been transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets
Software development is initially recognised at cost. After recognition, under the cost model, software development is measured at cost less any accumulated amortisation and any accumulated impairment losses.

Software development is considered to have a finite useful life of 4 years. As such, software development is written off on a straight line basis over 4 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold land and buildings - over the lease term
Plant and machinery - Straight line over 4 years
Fixtures and fittings - Straight line over 4 years and Straight line over 5 years

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress and finished goods include advanced royalties, labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss account.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.


ULVERSCROFT LIMITED (REGISTERED NUMBER: 01068776)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the house rate of exchange at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Having carried out a review of the company's resources and the challenges presented by the current economic climate the directors are satisfied that the company has sufficient cashflows to meet its liabilities as they fall due for at least one year from the approval of the financial statements. As such, these financial statement have been prepared on the going concern basis.

Provisions
Provisions are made where an event has taken place that gives the entity a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense in the year that the entity becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are made, they are charged to the provision carried in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 72 (2023 - 71 ) .

ULVERSCROFT LIMITED (REGISTERED NUMBER: 01068776)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023 428,441
Additions 33,120
At 31 October 2024 461,561
AMORTISATION
At 1 November 2023 389,352
Charge for year 16,324
At 31 October 2024 405,676
NET BOOK VALUE
At 31 October 2024 55,885
At 31 October 2023 39,089

Intangible assets represent software development costs.

5. TANGIBLE FIXED ASSETS
Leasehold Fixtures
land and Plant and and
buildings machinery fittings Totals
£    £    £    £   
COST
At 1 November 2023 41,281 18,205 495,601 555,087
Additions - 4,710 18,866 23,576
At 31 October 2024 41,281 22,915 514,467 578,663
DEPRECIATION
At 1 November 2023 19,186 14,298 441,080 474,564
Charge for year 4,345 2,728 23,341 30,414
At 31 October 2024 23,531 17,026 464,421 504,978
NET BOOK VALUE
At 31 October 2024 17,750 5,889 50,046 73,685
At 31 October 2023 22,095 3,907 54,521 80,523

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,130,809 1,181,872
Other debtors 422,245 518,988
1,553,054 1,700,860

ULVERSCROFT LIMITED (REGISTERED NUMBER: 01068776)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,201,060 1,233,735
Amounts owed to group undertakings 3,473,246 2,980,290
Taxation and social security 58,215 39,251
Other creditors 538,357 668,749
5,270,878 4,922,025

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 58,701 70,616
Between one and five years 58,212 15,592
116,913 86,208

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gregg Olner MPhil BA (Hons) FCA (Senior Statutory Auditor)
for and on behalf of HB&O Ltd

10. PENSION COMMITMENTS

During the year the company made pension contributions to a defined contribution scheme amounting to £48,812 (2023: £50,729). At the year end there were outstanding employer contributions of £4,290 (2023: £4,572).

11. CONTINGENT LIABILITIES

The company is party to a composite accounting system with its bankers whereby there is a full set-off between group companies of all bank balances, under which all companies within the group guarantee the borrowing of other group companies.

12. RELATED PARTY DISCLOSURES

The directors of the company are considered as key management personnel.

The company has taken advantage of the exemptions available in accordance with Financial Reporting Standard 102 not to disclose transactions entered into with other group companies.

ULVERSCROFT LIMITED (REGISTERED NUMBER: 01068776)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 October 2024

13. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking is Ulverscroft Group Limited, a company incorporated in England. The registered office of Ulverscroft Group Limited is The Green, Bradgate Road, Anstey, Leicester, LE7 7FU. The smallest group in which these accounts are included for which consolidated financial statements are prepared are those for Ulverscroft Group Limited. These are publicly available from the Registrar of Companies, Companies House, Crown Way, Maindy, Cardiff.

The ultimate controlling body is The Ulverscroft Foundation, a registered charity. The largest group in which these accounts are included for which consolidated financial statements are prepared are those for The Ulverscroft Foundation. These are publicly available from the Charity Commission, PO Box 1227, Liverpool, L69 3UG.