| ULUS & CO LIMITED |
| Notes to the Accounts |
| for the year ended 31 July 2025 |
|
|
| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. |
|
Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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|
Plant and machinery |
20% reducing balance |
|
Fixtures, fittings, tools and equipment |
20% reducing balance |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
10 |
|
15 |
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| 3 |
Tangible fixed assets |
|
|
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|
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Plant and machinery etc |
| £ |
|
Cost |
|
At 1 August 2024 |
5,548 |
|
Additions |
5,675 |
|
At 31 July 2025 |
11,223 |
|
|
|
|
|
|
|
|
|
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Depreciation |
|
At 1 August 2024 |
2,692 |
|
Charge for the year |
1,706 |
|
At 31 July 2025 |
4,398 |
|
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|
|
|
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Net book value |
|
At 31 July 2025 |
6,825 |
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At 31 July 2024 |
2,856 |
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| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
85,116 |
|
88,171 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
55,706 |
|
21,876 |
|
Other debtors |
20,330 |
|
11,450 |
|
|
|
|
|
|
161,152 |
|
121,497 |
|
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| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
8,458 |
|
9,465 |
|
Taxation and social security costs |
206,283 |
|
140,436 |
|
Other creditors |
(8,020) |
|
(4,376) |
|
|
|
|
|
|
206,721 |
|
145,525 |
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| 6 |
Other information |
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ULUS & CO LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
183 Angel Place |
|
Fore Street |
|
London |
|
N18 2UD |