Ultimate Life Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09846112 (England and Wales)

Financial Statements

for the Period

1 November 2022 to 30 April 2024

for

ULTIMATE LIFE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A M Penny

REGISTERED OFFICE:

41 Park Square North

Leeds

LS1 2NP

REGISTERED NUMBER:

09846112 (England and Wales)

ACCOUNTANTS:

Rawse, Varley & Co

Chartered Accountants

Lloyds Bank Chambers

Hustlergate

Bradford

BD1 1UQ

FIXED ASSETS

Intangible assets

4

-

4,349

Tangible assets

5

-

3,878

-

8,227

CURRENT ASSETS

Stock

-

216,695

Debtors

6

53,492

113,521

Cash at bank

115,660

315,672

169,152

645,888

CREDITORS

Amounts falling due within one year

7

159,243

387,516

NET CURRENT ASSETS

9,909

258,372

TOTAL ASSETS LESS CURRENT LIABILITIES

9,909

266,599

PROVISIONS FOR LIABILITIES

-

737

NET ASSETS

9,909

265,862

CAPITAL AND RESERVES

Called up share capital

8

200

200

Retained earnings

9,709

265,662

SHAREHOLDERS' FUNDS

9,909

265,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2024 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 11 June 2024 and were signed by:

A M Penny - Director

1.	STATUTORY INFORMATION

Ultimate Life 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.

Turnover

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

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.

An impairment loss has been recognised in the Income Statement, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

Website development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation.

Depreciation is calculated on a straight line basis to write off the assets over their estimated useful lives at the following annual rates:

Computer equipment

-

33.33% on cost

Stock

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

Taxation

Taxation for the period 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a money purchase pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 November 2022

and 30 April 2024

11,341

AMORTISATION

At 1 November 2022

6,992

Charge for period

1,635

Impairments

2,714

At 30 April 2024

11,341

NET BOOK VALUE

At 30 April 2024

-

At 31 October 2022

4,349

5.	TANGIBLE FIXED ASSETS

Plant and

equipment

£

COST

At 1 November 2022

11,143

Additions

6,115

Disposals

(17,258

)

At 30 April 2024

-

DEPRECIATION

At 1 November 2022

7,265

Charge for period

6,128

Eliminated on disposal

(13,393

)

At 30 April 2024

-

NET BOOK VALUE

At 30 April 2024

-

At 31 October 2022

3,878

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2022

£

£

Amounts owed by group undertakings

-

61,315

Other debtors

11,598

52,206

Corporation tax

33,775

-

Group relief

8,119

-

53,492

113,521

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2022

£

£

Trade creditors

12,687

31,075

Amounts owed to group undertakings

112,332

-

Taxation and social security

6,573

254,293

Other creditors

27,651

102,148

159,243

387,516

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2022

value:

£

£

180

Ordinary

£1

180

180

20

Ordinary B

£1

20

20

200

200

9.	RELATED PARTY DISCLOSURES

Creditors include an amount owed to Tuppence Investments Limited of £104,832 (2022 - £61,315 owed by).

10.	ULTIMATE PARENT COMPANY

The ultimate parent company is Tuppence Investments Limited.