These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies.
In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.

For the financial year ended 30 April 2025, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

The members have not required the company to obtain an audit.

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.

ULTRAMAG INSPECTION SERVICES LIMITED is a Private Company, limited by shares, domiciled in England and Wales, registration number 1312465.

The company's registered office is Unit 1 Contech House, Rushington Business Park, Rushington, Southampton, Hampshire SO40 9LT.

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Turnover is measured at the fair value of the consideration received or receivable and represents goods supplied or services rendered, stated net of Value Added Tax. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:

Building improvements - three year straight line

Plant and machinery - 15% reducing balance

Motor vehicles - 25% reducing balance

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and corresponding tax bases used in the computation of the of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

RBS Invoice Finance Ltd holds a fixed charge dated 24 February 2015 covering all of the company's fixed assets. It also holds a floating charge, also dated 24 February 2015, that covers the remainder of the company's assets.

National Westminster Bank Plc holds a fixed and floating charge dated 29 April 2014 covering all of the company's assets.

The hire purchase liabilities are secured on the asset they are used to finance.

There was no change in share capital during the year.

Shortly before the year end the company took over the lease of two new premises and had spent £61,646 of expenditure improving these premises by the year end. That expenditure has been capitalised in these accounts. In the subsequent year, (year ended 30 April 2026), it is anticipated that the company will incur a further circa £400,000 of capital expenditure on these premises. This will largely be financed by the borrowing of circa £350,000.