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Company Registration No. SC264553 (Scotland)
Ullapool Trading Ltd. Unaudited accounts for the year ended 30 April 2025
Ullapool Trading Ltd. Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Ullapool Trading Ltd. Company Information for the year ended 30 April 2025
Directors
K Thomson W Thomson
Secretary
K Thomson
Company Number
SC264553 (Scotland)
Registered Office
Captain's Cabin Quay Street Ullapool IV26 2UE Scotland
Accountants
CMM Accountancy (Inverness) Limited The Green House Beechwood Business Park North Inverness IV2 3BL
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Ullapool Trading Ltd. Statement of financial position as at 30 April 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
215,083
228,442
Current assets
Inventories
175,423
189,975
Debtors
24,099
18,790
Cash at bank and in hand
1,735
1,735
201,257
210,500
Creditors: amounts falling due within one year
(201,442)
(214,952)
Net current liabilities
(185)
(4,452)
Net assets
214,898
223,990
Capital and reserves
Called up share capital
2
2
Profit and loss account
214,896
223,988
Shareholders' funds
214,898
223,990
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2026 and were signed on its behalf by
K Thomson Director Company Registration No. SC264553
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Ullapool Trading Ltd. Notes to the Accounts for the year ended 30 April 2025
1
Statutory information
Ullapool Trading Ltd. is a private company, limited by shares, registered in Scotland, registration number SC264553. The registered office is Captain's Cabin, Quay Street, Ullapool, IV26 2UE, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% per annum straight line
Motor vehicles
25% per annum reducing balance
Fixtures & fittings
15% per annum reducing balance
Computer equipment
25% per annum reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
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 accounts. 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Ullapool Trading Ltd. Notes to the Accounts for the year ended 30 April 2025
4
Tangible fixed assets
Total
£
Cost or valuation
At 1 May 2024
396,033
Additions
954
Disposals
(65,246)
At 30 April 2025
331,741
Depreciation
At 1 May 2024
167,591
Charge for the year
11,367
On disposals
(62,300)
At 30 April 2025
116,658
Net book value
At 30 April 2025
215,083
At 30 April 2024
228,442
5
Loans to directors
Included in debtors is a loan of £3,500 (2024 - nil) to the director K Thomson. The loan is interest free and unsecured and has no fixed terms for repayment.
6
Average number of employees
During the year the average number of employees was 15 (2024: 12).
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