Abbreviated Company Accounts - ULTRACOMIDA TRADING CO. LIMITED

ULTRACOMIDA TRADING CO. LIMITED - Company Information

07239212 ULTRACOMIDA TRADING CO. LIMITED 2014-07-31 false 2013-08-01 2014-07-31 true 07239212 2013-08-01 2014-07-31 07239212 2014-07-31 07239212 2013-07-31 07239212 uk-gaap-cd-bus:Director1 2013-08-01 2014-07-31 07239212 uk-gaap-cd-bus:Director2 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-08-01 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-07-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-07-31 iso4217:GBP shares

Registered Number 07239212

ULTRACOMIDA TRADING CO. LIMITED

Abbreviated Accounts

31 July 2014

ULTRACOMIDA TRADING CO. LIMITED Registered Number 07239212

Abbreviated Balance Sheet as at 31 July 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	12,002	16,654
		12,002	16,654
Current assets
Stocks		165,064	107,245
Debtors		56,972	48,293
Cash at bank and in hand		5,594	3,072
		227,630	158,610
Creditors: amounts falling due within one year		(305,029)	(240,677)
Net current assets (liabilities)		(77,399)	(82,067)
Total assets less current liabilities		(65,397)	(65,413)
Total net assets (liabilities)		(65,397)	(65,413)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(65,497)	(65,513)
Shareholders' funds		(65,397)	(65,413)

For the year ending 31 July 2014 the company was entitled to exemption 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.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 4 September 2014

And signed on their behalf by:
PW GRIMWOOD, Director

ULTRACOMIDA TRADING CO. LIMITED Registered Number 07239212

Notes to the Abbreviated Accounts for the period ended 31 July 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Plant and machinery - 10% straight line
Fixtures, fittings and equipment - 10% straight line
Motor vehicles - 20% straight line
Computer equipment and website - 20% straight line

Other accounting policies
Leasing
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Stock
Stock is valued at the lower of cost and net realisable value.
Going concern
The company is financially supported by its director, who has provided loans and extended credit terms via the related company Ultracomida Limited.

2Tangible fixed assets

	£
Cost
At 1 August 2013	27,079
Additions	-
Disposals	(225)
Revaluations	-
Transfers	-
At 31 July 2014	26,854
Depreciation
At 1 August 2013	10,425
Charge for the year	4,427
On disposals	-
At 31 July 2014	14,852
Net book values
At 31 July 2014	12,002
At 31 July 2013	16,654

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100