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Registration number: 06270617

Ugalde & Son Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Ugalde & Son Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 9

Ugalde & Son Limited

Company Information

Directors | Mr B T Ugalde Mrs L A Ugalde Mr R C Ugalde

Company secretary | Mr B T Ugalde

Registered office | Trelawney House Heathlands Road Liskeard Cornwall PL14 4DH

Accountants | ADC Accountants (SW) Chartered Certified Accountants22 Churchill Way Plymouth Devon PL3 4PR

Ugalde & Son Limited

(Registration number: 06270617)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 4 | 655,200 | 728,000
Tangible assets | 5 | 411,397 | 449,023
|  | 1,066,597 | 1,177,023
Current assets |  |  |
Stocks | 6 | 4,950 | 4,950
Debtors | 7 | 122,548 | 124,501
Cash at bank and in hand |  | 209,926 | 105,659
|  | 337,424 | 235,110
Creditors: Amounts falling due within one year | 8 | (197,166) | (164,536)
Net current assets |  | 140,258 | 70,574
Total assets less current liabilities |  | 1,206,855 | 1,247,597
Creditors: Amounts falling due after more than one year | 8 | (63,792) | (74,645)
Provisions for liabilities |  | (43,719) | (49,214)
Net assets |  | 1,099,344 | 1,123,738
Capital and reserves |  |  |
Called up share capital | 9 | 680,444 | 680,444
Retained earnings |  | 418,900 | 443,294
Shareholders' funds |  | 1,099,344 | 1,123,738

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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Ugalde & Son Limited

(Registration number: 06270617)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 17 October 2025 and signed on its behalf by:

......................................... Mr B T Ugalde Company secretary and director
......................................... Mr R C Ugalde Director

Ugalde & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Trelawney House
Heathlands Road
Liskeard
Cornwall
PL14 4DH

These financial statements were authorised for issue by the Board on 17 October 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are 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 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Ugalde & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Land and buildings | 2% straight line
Plant and machinery | 15% reducing balance
Furniture and fittings | 15% reducing balance
Motor vehicles | 25% reducing balance
Office equipment | 33.33% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 20 years straight line

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 11).

Ugalde & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4 | Intangible assets

| Goodwill £ | Database £ | Total £
Cost or valuation
At 1 April 2024 | 1,456,000 | 6,917 | 1,462,917
At 31 March 2025 | 1,456,000 | 6,917 | 1,462,917
Amortisation
At 1 April 2024 | 728,000 | 6,917 | 734,917
Amortisation charge | 72,800 | - | 72,800
At 31 March 2025 | 800,800 | 6,917 | 807,717
Carrying amount
At 31 March 2025 | 655,200 | - | 655,200
At 31 March 2024 | 728,000 | - | 728,000

Ugalde & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5 | Tangible assets

| Land and buildings £ | Furniture, fittings and equipment £ | Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 April 2024 | 367,753 | 43,952 | 249,077 | 62,361 | 723,143
At 31 March 2025 | 367,753 | 43,952 | 249,077 | 62,361 | 723,143
Depreciation
At 1 April 2024 | 43,922 | 34,902 | 153,323 | 41,973 | 274,120
Charge for the year | 7,355 | 3,273 | 23,939 | 3,059 | 37,626
At 31 March 2025 | 51,277 | 38,175 | 177,262 | 45,032 | 311,746
Carrying amount
At 31 March 2025 | 316,476 | 5,777 | 71,815 | 17,329 | 411,397
At 31 March 2024 | 323,831 | 9,050 | 95,754 | 20,388 | 449,023

Included within the net book value of land and buildings above is £316,476 (2024 - £323,831) in respect of long leasehold land and buildings.

Ugalde & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6 | Stocks

| 2025 £ | 2024 £
Stocks | 4,950 | 4,950

7 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 96,880 | 82,023
Prepayments | 17,668 | 22,491
Other debtors | 8,000 | 19,987
| 122,548 | 124,501

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings |  | 10,852 | 10,852
trade creditors |  | 12,070 | 23,747
Taxation and social security |  | 75,717 | 42,326
Accruals and deferred income |  | 40,667 | 31,083
Other creditors |  | 57,860 | 56,528
|  | 197,166 | 164,536

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £10,852 (2024 - £10,852).

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings |  | 63,792 | 74,645

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £63,792 (2024 - £74,645).

Ugalde & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 4 | 4 | 4 | 4
Ordinary A shares of £1 each | 10 | 10 | 10 | 10
Ordinary B shares of £1 each | 10 | 10 | 10 | 10
Ordinary C shares of £1 each | 10 | 10 | 10 | 10
Ordinary D shares of £1 each | 10 | 10 | 10 | 10
Preference shares of £1 each | 680,400 | 680,400 | 680,400 | 680,400
| 680,444 | 680,444 | 680,444 | 680,444

10 | Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 19,128 | 19,128
Contributions paid to money purchase schemes | 40,000 | 40,000
| 59,128 | 59,128