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REGISTERED NUMBER: 04411273 (England and Wales)















Financial Statements for the Year Ended 31st August 2024

for

Ullyses Ltd

Ullyses Ltd (Registered number: 04411273)






Contents of the Financial Statements
for the Year Ended 31st August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ullyses Ltd

Company Information
for the Year Ended 31st August 2024







DIRECTORS: Mr P J Morris
Mr A J Hurn





REGISTERED OFFICE: Unit 16 Pheonix Park
Telford Street
Newport
NP19 0LW





REGISTERED NUMBER: 04411273 (England and Wales)

Ullyses Ltd (Registered number: 04411273)

Balance Sheet
31st August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,307 43,438

CURRENT ASSETS
Stocks 39,501 72,437
Debtors 5 175,690 167,486
Cash at bank and in hand 3,744 14,485
218,935 254,408
CREDITORS
Amounts falling due within one year 6 254,484 183,967
NET CURRENT (LIABILITIES)/ASSETS (35,549 ) 70,441
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,758

113,879

CREDITORS
Amounts falling due after more than one
year

7

(55,337

)

(65,847

)

PROVISIONS FOR LIABILITIES - (1,263 )
NET (LIABILITIES)/ASSETS (43,579 ) 46,769

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (43,779 ) 46,569
SHAREHOLDERS' FUNDS (43,579 ) 46,769

Ullyses Ltd (Registered number: 04411273)

Balance Sheet - continued
31st August 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 and Directors Report has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd August 2025 and were signed on its behalf by:




Mr P J Morris - Director



Mr A J Hurn - Director


Ullyses Ltd (Registered number: 04411273)

Notes to the Financial Statements
for the Year Ended 31st August 2024

1. STATUTORY INFORMATION

Ullyses Ltd 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement and Directors Report, 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.


Ullyses Ltd (Registered number: 04411273)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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
The balance sheet at 31st August 2024 shows that the company's liabilities exceed its assets resulting in a net deficit of £43,579. The directors have reviewed the company's up to date management accounts and projections which indicate that the business will have traded profitably post year end. Consequently the directors consider it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

Ullyses Ltd (Registered number: 04411273)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st September 2023 175,905
Additions 19,097
Disposals (17,542 )
At 31st August 2024 177,460
DEPRECIATION
At 1st September 2023 132,466
Charge for year 14,321
Eliminated on disposal (16,634 )
At 31st August 2024 130,153
NET BOOK VALUE
At 31st August 2024 47,307
At 31st August 2023 43,439

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st September 2023 19,990
Additions 17,949
At 31st August 2024 37,939
DEPRECIATION
At 1st September 2023 3,332
Charge for year 6,967
At 31st August 2024 10,299
NET BOOK VALUE
At 31st August 2024 27,640
At 31st August 2023 16,658

Ullyses Ltd (Registered number: 04411273)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 83,757 107,102
Amounts owed by group undertakings 90,355 58,300
Other debtors 1,578 2,084
175,690 167,486

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 46,378 17,180
Hire purchase contracts 7,905 3,998
Trade creditors 102,633 58,631
Taxation and social security 21,479 43,981
Other creditors 76,089 60,177
254,484 183,967

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 34,302 52,187
Hire purchase contracts 21,035 13,660
55,337 65,847

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 28,940 17,658

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A Hurn & Mr P Morris..

The immediate parent company is Ullyses Holdings Limited.