REGISTERED NUMBER: 07780980 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 DECEMBER 2024

FOR

ULTRAFOG LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I Cassiano

REGISTERED OFFICE:

Office No 113 1010

Cambourne Business Centre

Cambourne

Cambridge

Cambridgeshire

CB23 6DP

REGISTERED NUMBER:

07780980 (England and Wales)

ACCOUNTANTS:

Thompson Taraz Rand Ltd

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

FIXED ASSETS

Intangible assets

5

34,584

51,876

Tangible assets

6

4

4,751

34,588

56,627

CURRENT ASSETS

Debtors

7

2,527,327

4,693,141

Cash at bank

50,958

118,370

2,578,285

4,811,511

CREDITORS

Amounts falling due within one year

8

(368,331

)

(545,482

)

NET CURRENT ASSETS

2,209,954

4,266,029

TOTAL ASSETS LESS CURRENT LIABILITIES

2,244,542

4,322,656

CREDITORS

Amounts falling due after more than one year

9

(130,333

)

(222,333

)

NET ASSETS

2,114,209

4,100,323

CAPITAL AND RESERVES

Called up share capital

12

50,001

50,001

Retained earnings

2,064,208

4,050,322

SHAREHOLDERS' FUNDS

2,114,209

4,100,323

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 31 July 2025 and were signed by:

I Cassiano - Director

1.	STATUTORY INFORMATION

Ultrafog 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

Useful economic lives of tangible fixed assets:

Tangible fixed assets are depreciated over their expected useful lives taking into consideration residual values, where appropriate. The actual lives of the assets and residual values are assessed and amended when necessary to reflect the current estimates based on economic utilization and physical condition of the assets.

Doubtful debts:

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade debtors , management considers factors including the current credit rating of the debtor, the ageing of the debtor and historical experience regarding payment history.

Accrued and deferred income:

Factors taken into account in assessing the percentage completion of a project and forming a estimate of the amount of revenue to recognise as work-in-progress together with the amount of revenue to defer at the balance sheet date is undertaken having considered: the date when materials were delivered to the customer, time spent on the project since commencement of delivery of materials, project phases, milestones completed.

Turnover

Turnover comprises the fair value of consideration receivable in respect of th provision of design, engineering and installation of fire suppression systems, exclusive of Value Added Tax and trade discounts.

A proportion of project revenue is recognised on dispatch of materials to the customer, once the risk and rewards of ownership have transfered to the customer. Revenue in respect of installation services,

where the outcome of the project can be reliably estimated and the revenue associated with the project can be reliably estimated, the project revenue is recognised in the profit and loss account by reference to the stage of completion at the balance sheet date, if the right to the consideration has been obtained through performance.

Stage of completion is measured by estimating the progress of each contract at the balance sheet date by considering the factors detailed within key sources of estimation uncertainty at note four.

Consideration accrues as project activity progresses by reference to the value of work performed. Where the value of consideration exceeds the amount invoiced this is recognised as accrued income within other debtors. Where the amount invoiced exceeds the value of project work performed the excess is recognised as deferred income within other creditors.

If the right to consideration is conditional or contingent on a specified future event or outcome, the occurrence of which is outside the Company's control, turnover is not recognised until that critical event occurs.

For non contract installations revenue is recognised once the system has been commissioned and possession passes to the customer.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Other Intangibles are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments

Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, 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.

Research and development

Expenditure on research activities, undertaken with the prospect of gaining new scientific or technical knowledge and understanding is recognised in the Income Statement as an expense as incurred. Development costs incurred after the point at which the commercial and technical feasibility of the product have been proven, and the decision to complete the development has been taken and resources made available, are capitalised. The expenditure capitalised includes the cost of materials, direct labour and an appropriate proportion of overheads. Capitalised development expenditure is stated at cost less accumulated amortisation and impairment losses. Development expenditure has an estimated useful life of five years and is written off on a straight-line basis.

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.

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.

Grant income

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received using the performance model.

The grant will therefore be recognised in other income when the grant proceeds are received or receivable provided the terms of the grant do not impose future performance related conditions.

If the terms of the grant do impose future performance related conditions, the grant is only recognised in income when the performance related conditions are met.

Any grants that are received before the recognition criteria is met are recognised in the entity's financial statements as a liability.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 30 December 2023

and 29 December 2024

86,460

AMORTISATION

At 30 December 2023

34,584

Charge for year

17,292

At 29 December 2024

51,876

NET BOOK VALUE

At 29 December 2024

34,584

At 29 December 2023

51,876

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 30 December 2023

19,359

Disposals

(13,660

)

At 29 December 2024

5,699

DEPRECIATION

At 30 December 2023

14,608

Charge for year

193

Eliminated on disposal

(9,106

)

At 29 December 2024

5,695

NET BOOK VALUE

At 29 December 2024

4

At 29 December 2023

4,751

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

913,552

2,020,857

Amounts owed by group undertakings

904

904

Other debtors

1,612,871

2,671,380

2,527,327

4,693,141

Amounts owed by group undertakings are unsecured, non-interest bearing and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

92,021

92,000

Trade creditors

147,953

219,811

Amounts owed to group undertakings

1,268

-

Taxation and social security

-

2,293

Other creditors

127,089

231,378

368,331

545,482

Amounts owed to group undertakings are unsecured, non-interest bearing and repayable on demand.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

130,333

222,333

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

38,100

7,142

Between one and five years

12,700

8,333

50,800

15,475

11.	SECURED DEBTS

Bank loans and overdrafts are secured by way of a fixed and floating charge over the assets of the company dated 3rd June 2016.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

£1

1

1

50,000

Ordinary A Class shares

£1

50,000

50,000

50,001

50,001

13.	RELATED PARTY DISCLOSURES

At the balance sheet date £1,034,502 (2023: £3,121,012) was due from companies under common control. The amount is disclosed within debtors due within one year, bears no interest moving forward and is due on demand.

At the balance sheet date, £1,268 (2023: £nil) was owed to companies under common control. This amount is disclosed within amounts due within one year, bears no interest and is due on demand.

During the year, a charge of £200,000 (2023: £nil) was made to a company that holds a participating interest in the Company. The charge relates to management and consultancy services provided during the year.

At the balance sheet date, the amount outstanding of £200,000 (2023: £nil) is included within accrued income and is due in less than one year.

14.

DIVIDENDS

During the year, dividends totalling £2,001,506 were declared and paid. These dividends were issued primarily to reduce intercompany debtor balances and do not reflect the underlying trading performance or distributable earnings generated during the year. The dividend was funded from accumulated reserves brought forward.

Management does not consider this transaction to be exceptional in nature, as the payment of dividends, even for intercompany balance sheet purposes, is consistent with the normal course of business. Accordingly, the amount has not been presented as an exceptional item in these financial statements.