Registered number
01934886
Ultra Ice (UK) Limited
Filleted Accounts
30 November 2024
Ultra Ice (UK) Limited
Registered number: 01934886
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 484,481 484,116
Current assets
Stocks 110,856 60,438
Debtors 4 936,284 712,983
Cash at bank and in hand 177,003 35,040
1,224,143 808,461
Creditors: amounts falling due within one year 5 (564,376) (554,672)
Net current assets 659,767 253,789
Total assets less current liabilities 1,144,248 737,905
Creditors: amounts falling due after more than one year 6 (214,143) (366,497)
Provisions for liabilities (65,468) (42,764)
Net assets 864,637 328,644
Capital and reserves
Called up share capital 100 100
Profit and loss account 864,537 328,544
Shareholders' funds 864,637 328,644
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jameie Minchin
Director
Approved by the board on 23 July 2025
Ultra Ice (UK) Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery between 4 to 10 years
Motor vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Government grants
Government grants that relate to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 21 21
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 32,576 3,788,100 99,108 3,919,784
Additions - 3,553 162,705 166,258
At 30 November 2024 32,576 3,791,653 261,813 4,086,042
Depreciation
At 1 December 2023 32,576 3,303,984 99,108 3,435,668
Charge for the year - 165,893 - 165,893
At 30 November 2024 32,576 3,469,877 99,108 3,601,561
Net book value
At 30 November 2024 - 321,776 162,705 484,481
At 30 November 2023 - 484,116 - 484,116
4 Debtors 2024 2023
£ £
Trade debtors 244,829 218,947
Other debtors 691,455 494,036
936,284 712,983
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 89,636 85,000
Obligations under finance lease and hire purchase contracts 73,209 -
Trade creditors 134,074 155,671
Taxation and social security costs 171,849 114,359
Other creditors 95,608 199,642
564,376 554,672
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 97,106 191,379
Obligations under finance lease and hire purchase contracts 117,037 -
Other creditors - 175,118
214,143 366,497
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 376,988 276,379
The bank loans and overdrafts and hire purchase contacts are secured by a fixed and floating charge over the company's assets, fixed and floating charge over the assets of Shiver Ice (UK) Limited and the director's personal guarantee.
8 Related party transactions 2024 2023
£ £
Jameie Minchin and Penny Minchin
Shareholders
The premises from which the company operates is owned by Jameie Minchin and Penny Minchin. During the year the company paid rent for the premises of £120,000 (2023:£63,000). Also they have lent monies to the company to assist with the purchase of plant and machinery.
Amount due to the related party 44,150 230,318
Shiver Ice (UK) Ltd
Common Shareholders
During the year company sold goods to Shiver Ice (UK) Ltd amounting to £1,542,724 (2023: £1,883,376). Also the company bought packaging material amounting to £397,911 (2023:£338,383) from Shiver Ice (UK) LTD
Amount due from the related party 561,993 359,680
A J Bell Sipp Re Jameie Minchin
Shareholder
One of the properties from which the company operated is owned by Jameie Minchin's personal pension scheme. During the year the rent payable for the premises amounted to £20,000 (2023:£19,859).
Amount due from the pension scheme 1,500 -
Amount due to the pension scheme - 12,000
9 Controlling party
The Company is under the control of Mr J Minchin, the managing director.
10 Other information
Ultra Ice (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
21 Broadwalk
Pinner Road
North Harrow
Middlesex
HA2 6ED
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