Ulidia Investments Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI070132

Ulidia Investments Ltd

Filleted Unaudited Financial Statements

31 March 2025

Ulidia Investments Ltd

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5	1,560	–
Investments	6	4,321,653	3,381,653
		------------	------------
		4,323,213	3,381,653

Current assets

Debtors	7	33,994	9,884
Cash at bank and in hand		138,021	1,107,766
		---------	------------
		172,015	1,117,650

Creditors: amounts falling due within one year	8	861,809		478,571
		---------		------------
Net current (liabilities)/assets			( 689,794)	639,079
			------------	------------
Total assets less current liabilities			3,633,419	4,020,732
			------------	------------
Net assets			3,633,419	4,020,732
			------------	------------

Capital and reserves

Called up share capital	9	100	100
Share premium account	10	24,995	24,995
Capital redemption reserve	10	4,101,084	4,101,084
Profit and loss account	10	( 492,760)	( 105,447)
		------------	------------
Shareholders funds		3,633,419	4,020,732
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Ulidia Investments Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 10 December 2025 , and are signed on behalf of the board by:

Dr C Hetherington
Director

Company registration number: NI070132

Ulidia Investments Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in N Ireland. The address of the registered office is 14 Lower Crescent, Belfast, BT7 1NR, Northern Ireland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The going concern basis of preparation is no longer appropriate. Due to the impact of Covid-19 and amoung other events and conditions management intends to cease trading and the company is not longer active.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Computer Equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 1 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 April 2024	–	–
Additions	1,741	1,741
	-------	-------
At 31 March 2025	1,741	1,741
	-------	-------
Depreciation
At 1 April 2024	–	–
Charge for the year	181	181
	-------	-------
At 31 March 2025	181	181
	-------	-------
Carrying amount
At 31 March 2025	1,560	1,560
	-------	-------
At 31 March 2024	–	–
	-------	-------

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024	3,381,653
Additions	940,000
	------------
At 31 March 2025	4,321,653
	------------
Impairment
At 1 April 2024 and 31 March 2025	–
	------------

Carrying amount
At 31 March 2025	4,321,653
	------------
At 31 March 2024	3,381,653
	------------

On 21st August 2023, Ulidia Investments Ltd acquired 10.4% of the shares of Pitchbooking Limited for consideration of £449,628; at the year end they currently own 10.3% of the shares.

On 3rd January 2024, Ulidia Investments Ltd acquired 35.1% of the shares in Propertypal Limited for consideration of £2,150,000; at the year end they currently own 32.1% of the shares.

On 17th August 2023, Ulidia Investments Ltd acquired 100% of the shares of Ripley Chat Limited for consideration of £100,001; at the year end they currently own 100% of the shares.

On 21st August 2023, Ulidia Investments Ltd acquired 9.1% of the shares of Autonemo Limited for consideration of £682,024; at the year end they currently own 9.1% of the shares.

7. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	20,000	6,500
Other debtors	13,994	3,384
	--------	-------
	33,994	9,884
	--------	-------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	2,695	–
Trade creditors	8,120	359
Amounts owed to group undertakings and undertakings in which the company has a participating interest	849,994	475,000
Social security and other taxes	–	1,063
Other creditors	1,000	2,149
	---------	---------
	861,809	478,571
	---------	---------

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

10. Reserves

Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Profit and loss account - This reserve records retained earnings and accumulated losses.

11. Related party transactions

The company is related to Used Cars NI Ltd by virtue of the same directors. The balance due from the company to Used Cars NI Ltd was £849,994 (2024: £475,000).

12. Controlling party

From 1 April 2023, the company was under the control of Net-Finity Holdings Ltd, which had purchased the full shareholding in the company. The company was under the joint control of Cecil Hetherington and Anthony Kieran by way of their ownership of Net-Finity Holdings Ltd. The company is a private company, limited by shares. It is registered in Northern Ireland ( NI070132 ) with its registered office at 14 Lower Crescent, Belfast, Northern Ireland, BT7 1NR.