| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| ULVERSCROFT LIMITED |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants and Statutory Auditors |
| Seven Stars House |
| 1 Wheler Road |
| Coventry |
| CV3 4LB |
| BANKERS: |
| 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 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| ( |
) | ( |
) |
| The financial statements were approved by the director and authorised for issue on |
| ULVERSCROFT LIMITED (REGISTERED NUMBER: 01068776) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 October 2024 |
| 1. | STATUTORY INFORMATION |
| Ulverscroft Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Leasehold land and buildings | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| 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 |
| 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 |
| Additions |
| At 31 October 2024 |
| AMORTISATION |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 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 |
| Additions |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 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 |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 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. |