REGISTERED NUMBER: 01976543 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ULTRAVALVE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr C J Clear

Mr P S Brach

Mr J L Hill

Mr A C Farnham

Mr M Moore

SECRETARY:

Mrs C Hill

REGISTERED OFFICE:

The Fluid Power Centre

Watling Street

Nuneaton

Warwickshire

CV11 6BQ

REGISTERED NUMBER:

01976543 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Unit 2 Charnwood Edge Business Park

Syston Road, Leicester

LE7 4UZ

Magma Audit LLP is part

Of the Dains Group

FIXED ASSETS

Tangible assets

4

67,304

17,234

CURRENT ASSETS

Stocks

261,200

186,555

Debtors

5

483,050

316,870

Cash at bank and in hand

356,426

395,801

1,100,676

899,226

CREDITORS

Amounts falling due within one year

6

(547,235

)

(352,112

)

NET CURRENT ASSETS

553,441

547,114

TOTAL ASSETS LESS CURRENT LIABILITIES

620,745

564,348

CAPITAL AND RESERVES

Called up share capital

60

60

Retained earnings

620,685

564,288

620,745

564,348

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2025 and were signed on its behalf by:

Mr A C Farnham - Director

Mr M Moore - Director

1.	COMPANY INFORMATION

Ultravalve Limited is a private limited company, limited by shares, registered in England and Wales. Its registered office address is The Fluid Power Centre, Watling Street, Nuneaton, Warwickshire, CV11 6BQ and the registered number is 01976543.

2.	ACCOUNTING POLICIES

Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements

25% straight line basis

Plant and machinery

25% straight line basis

Fixtures and fittings

15% straight line basis

Computer equipment

25% straight line basis

Motor vehicles

33.3% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at

transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless

the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.

Preference shares which result in fixed returns to the holder or are mandatorily redeemable on a specific date are classified as liabilities. The dividends on these preference shares are recognised in the profit and loss account as an interest expense.

Taxation

Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is

recognised in the statement of comprehensive income, except to the extent that it related to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current or deferred taxation assets and liabilities are not discounted.

(i) Current tax

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

(ii) Deferred tax

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions.

Unrelieved tax losses and other deferred tax assets are only recognised when 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 tax rates and laws that have enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases

Leases are classified as hire purchase whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Short

leasehold

Fixtures

land &

Plant and

and

buildings

machinery

fittings

£

£

£

COST

At 1 January 2024

10,007

10,293

10,233

Additions

7,504

-

20,244

Disposals

-

-

-

At 31 December 2024

17,511

10,293

30,477

DEPRECIATION

At 1 January 2024

1,271

7,247

9,072

Charge for year

1,209

563

524

Eliminated on disposal

-

-

-

At 31 December 2024

2,480

7,810

9,596

NET BOOK VALUE

At 31 December 2024

15,031

2,483

20,881

At 31 December 2023

8,736

3,046

1,161

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

56,074

26,989

113,596

Additions

31,626

2,238

61,612

Disposals

(10,554

)

-

(10,554

)

At 31 December 2024

77,146

29,227

164,654

DEPRECIATION

At 1 January 2024

52,854

25,918

96,362

Charge for year

8,711

535

11,542

Eliminated on disposal

(10,554

)

-

(10,554

)

At 31 December 2024

51,011

26,453

97,350

NET BOOK VALUE

At 31 December 2024

26,135

2,774

67,304

At 31 December 2023

3,220

1,071

17,234

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

450,862

289,863

Other debtors

329

293

Prepayments and accrued income

31,859

26,714

483,050

316,870

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

309,748

156,925

Corporation tax

732

18,226

Social security and other taxes

58,578

60,800

Other creditors

2,558

2,355

Amounts due to related parties

29,614

13,935

Accruals and deferred income

146,005

99,871

547,235

352,112

7.	OTHER FINANCIAL COMMITMENTS

The company has entered into forward foreign exchange contracts in the normal course of business amounting to £417,773 at 31 December 2024 (2023 - £353,791).