Company No: 10949730 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Paul Anthony Maddern
	Kenneth John Wright

REGISTERED OFFICE	Unit 4c Trefoil Way
	Preston
	PR2 5PH
	United Kingdom

COMPANY NUMBER

10949730 (England and Wales)

CHARTERED ACCOUNTANTS	PM+M Solutions for Business LLP
	New Century House
	Greenbank Technology Park
	Challenge Way
	Blackburn
	BB1 5QB

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	6,106		8,114
Tangible assets	4	94,770		135,057
		100,876		143,171
Current assets
Stocks		750,000		1,142,000
Debtors	5	933,182		1,022,919
Cash at bank and in hand		1,132,199		1,062,164
		2,815,381		3,227,083
Creditors: amounts falling due within one year	6, 9	( 2,124,380)		( 2,834,643)
Net current assets		691,001		392,440
Total assets less current liabilities		791,877		535,611
Provision for liabilities		( 1,014)		( 9,018)
Net assets		790,863		526,593
Capital and reserves
Called-up share capital		10		10
Profit and loss account		790,853		526,583
Total shareholders' funds		790,863		526,593

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Universal Product Solutions Limited (registered number: 10949730) were approved and authorised for issue by the Board of Directors on 08 October 2025. They were signed on its behalf by:

Paul Anthony Maddern Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Universal Product Solutions Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 4c Trefoil Way, Preston, PR2 5PH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

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

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

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences	20 % reducing balance
Website costs	25 % reducing balance

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Plant and machinery	5 years straight line
Computer equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	16		10

3. Intangible assets

	Trademarks, patents and licences		Website costs		Total
	£		£		£
Cost
At 01 April 2024	511		10,500		11,011
At 31 March 2025	511		10,500		11,011
Accumulated amortisation
At 01 April 2024	108		2,789		2,897
Charge for the financial year	80		1,928		2,008
At 31 March 2025	188		4,717		4,905
Net book value
At 31 March 2025	323		5,783		6,106
At 31 March 2024	403		7,711		8,114

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Computer equipment		Total
	£		£		£		£
Cost
At 01 April 2024	161,280		43,241		22,483		227,004
Additions	0		5,545		3,128		8,673
At 31 March 2025	161,280		48,786		25,611		235,677
Accumulated depreciation
At 01 April 2024	62,971		19,089		9,887		91,947
Charge for the financial year	32,256		9,038		7,666		48,960
At 31 March 2025	95,227		28,127		17,553		140,907
Net book value
At 31 March 2025	66,053		20,659		8,058		94,770
At 31 March 2024	98,309		24,152		12,596		135,057

5. Debtors

	2025		2024
	£		£
Trade debtors	603,791		214,373
Amounts owed by directors	22,285		0
Prepayments	73,120		414,660
VAT recoverable	87,882		70,489
Other debtors	146,104		323,397
	933,182		1,022,919

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	352,185		215,829
Amounts owed to directors	0		299,031
Other loans	1,494,549		2,027,474
Accruals	145,610		154,456
Taxation and social security	124,537		118,670
Other creditors	7,499		19,183
	2,124,380		2,834,643

7. Financial commitments

Commitments

	2025		2024
	£		£
Total future minimum lease payments under non-cancellable operating lease	305,963		522,250

8. Related party transactions

Other related party transactions

During the reporting period the company entered into transactions with the director. At the balance sheet date, an amount of £22,285 (2024 -£299,031) was owed to the company by the director. The loan is unsecured, interest free and repayable on demand

9. Operating lease commitments

	2025		2024
	£		£
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:	305,963		522,250