Ultimate Earth Limited - Accounts to registrar (filleted) - small 18.2

Ultimate Earth Limited - Accounts to registrar (filleted) - small 18.2

ULTIMATE EARTH LIMITED - Company Information

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REGISTERED NUMBER: 09153000 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Ultimate Earth Limited
Ultimate Earth Limited (Registered number: 09153000)

Contents of the Financial Statements
for the Year Ended 31 December 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ultimate Earth Limited

Company Information
for the Year Ended 31 December 2020







DIRECTORS: D J Apperley
T P Murphy





REGISTERED OFFICE: Plum Tree Cottage
The Street
South Stoke
Oxfordshire
RG8 0JS





REGISTERED NUMBER: 09153000 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL
1
Ultimate Earth Limited (Registered number: 09153000)

Balance Sheet
31 December 2020

31.12.20 31.12.19
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 75,560 75,560
Tangible assets 5 - -
75,560 75,560

CURRENT ASSETS
Cash at bank 12 386

CREDITORS
Amounts falling due within one year 6 107,431 104,720
NET CURRENT LIABILITIES (107,419 ) (104,334 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(31,859
)
(28,774
)

CAPITAL AND RESERVES
Called up share capital 7 200 200
Retained earnings (32,059 ) (28,974 )
SHAREHOLDERS' FUNDS (31,859 ) (28,774 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2021 and were signed on its behalf by:




D J Apperley - Director


The notes form part of these financial statements

2
Ultimate Earth Limited (Registered number: 09153000)

Notes to the Financial Statements
for the Year Ended 31 December 2020


1. STATUTORY INFORMATION

Ultimate Earth Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the balance sheet date the company had net liabilities of £31,859 (2019: £28,774). The ability of the company to continue trading is dependant upon the continued support of the directors. The directors are of the opinion that this support will continue for the foreseeable future and so consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not contain any adjustments that would be necessary if this support were to be withdrawn.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3
Ultimate Earth Limited (Registered number: 09153000)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2020
and 31 December 2020 75,560
NET BOOK VALUE
At 31 December 2020 75,560
At 31 December 2019 75,560

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2020
and 31 December 2020 641
DEPRECIATION
At 1 January 2020
and 31 December 2020 641
NET BOOK VALUE
At 31 December 2020 -
At 31 December 2019 -

4
Ultimate Earth Limited (Registered number: 09153000)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Trade creditors 141 195
Other creditors 107,290 104,525
107,431 104,720

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.12.20 31.12.19
value: £    £   
200 Ordinary A £1 200 200

5