Ultrafilter Medical Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12583364 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2023

for

Ultrafilter Medical Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D D Kronsbein

REGISTERED OFFICE:

Cubberley House

Hom Green

Ross-On-Wye

HR9 7TE

REGISTERED NUMBER:

12583364 (England and Wales)

ACCOUNTANTS:

R J Francis & Co

Suites 1 & 2

Marshall Business Centre

Faraday Road

Hereford

Herefordshire

HR4 9NS

FIXED ASSETS

Tangible assets

4

819,035

764,291

CURRENT ASSETS

Stocks

14,563

12,462

Debtors

5

715,578

348,138

Cash at bank

60,954

1,211,533

791,095

1,572,133

CREDITORS

Amounts falling due within one year

6

840,471

963,517

NET CURRENT (LIABILITIES)/ASSETS

(49,376

)

608,616

TOTAL ASSETS LESS CURRENT LIABILITIES

769,659

1,372,907

PROVISIONS FOR LIABILITIES

153,075

167,853

NET ASSETS

616,584

1,205,054

CAPITAL AND RESERVES

Called up share capital

8

3

3

Retained earnings

616,581

1,205,051

SHAREHOLDERS' FUNDS

616,584

1,205,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 February 2024 and were signed by:

D D Kronsbein - Director

1.	STATUTORY INFORMATION

Ultrafilter Medical Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on cost

Plant and machinery

-

25% on reducing balance and 10% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 June 2022

12,306

719,911

44,249

Additions

-

207,632

8,023

Disposals

-

(97,035

)

-

At 31 May 2023

12,306

830,508

52,272

DEPRECIATION

At 1 June 2022

2,461

30,913

9,882

Charge for year

1,231

31,003

6,359

Eliminated on disposal

-

-

-

At 31 May 2023

3,692

61,916

16,241

NET BOOK VALUE

At 31 May 2023

8,614

768,592

36,031

At 31 May 2022

9,845

688,998

34,367

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 June 2022

36,698

9,684

822,848

Additions

-

5,096

220,751

Disposals

(36,698

)

-

(133,733

)

At 31 May 2023

-

14,780

909,866

DEPRECIATION

At 1 June 2022

9,175

6,126

58,557

Charge for year

-

2,856

41,449

Eliminated on disposal

(9,175

)

-

(9,175

)

At 31 May 2023

-

8,982

90,831

NET BOOK VALUE

At 31 May 2023

-

5,798

819,035

At 31 May 2022

27,523

3,558

764,291

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

229,250

146,074

Other debtors

486,328

202,064

715,578

348,138

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

660,549

691,492

Taxation and social security

150,644

240,628

Other creditors

29,278

31,397

840,471

963,517

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023

2022

£

£

Within one year

48,000

46,000

Between one and five years

192,000

192,000

In more than five years

104,000

152,000

344,000

390,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

3

Ordinary

£1

3

3

9.	RELATED PARTY DISCLOSURES

During the period, Ultrafilter Medical Ltd entered into transactions with companies within the Ultrafilter Group of which Mr D Kronsbein, shareholder, was the ultimate controlling party. Transactions were at market value and were on normal commercial terms.

Sales were made to the group companies of £290,379 (2022: £4,169,520) in the period and purchases were incurred of £91,004 (2022: £1,464,560).The company also rented office space to a group company and rent was received in the period of £9,600 (2022: £9,600). As at 31 May 2023, amounts were due to group companies of £568,946 (2022: £654,550) and due from group companies of £214,850 (2022: £119,842).

Amounts were advanced to the Directors during the year totalling £411,092 and they repaid £107,191. An amount of £300,486 was due from them at the year end (2022: £3,415 due from the company). There are no specified terms of repayment but interest is charged on overdrawn balances.