Ultra Biotecs Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 07557627 (England and Wales)

Unaudited Financial Statements

For The Period 1 April 2016 to 31 December 2016

for

Ultra Biotecs Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr M R Snowball

Mr S M Gordon

Mr P E Barr

Mr D Jones

REGISTERED OFFICE:

7 Billing Road

Northampton

Northamptonshire

NN1 5AN

REGISTERED NUMBER:

07557627 (England and Wales)

ACCOUNTANTS:

Cochran, Harris & Clarke Ltd

7 Billing Road

Northampton

Northamptonshire

NN1 5AN

FIXED ASSETS

Intangible assets

4

372,094

5,373

CURRENT ASSETS

Debtors

5

79,044

58,043

Cash at bank and in hand

290,048

50,738

369,092

108,781

CREDITORS

Amounts falling due within one year

6

209,408

180,872

NET CURRENT ASSETS/(LIABILITIES)

159,684

(72,091

)

TOTAL ASSETS LESS CURRENT LIABILITIES

531,778

(66,718

)

CREDITORS

Amounts falling due after more than one year

7

292,344

-

NET ASSETS/(LIABILITIES)

239,434

(66,718

)

CAPITAL AND RESERVES

Called up share capital

14,470

11,320

Share premium

748,895

249,680

Retained earnings

(523,931

)

(327,718

)

SHAREHOLDERS' FUNDS

239,434

(66,718

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 19 April 2017 and were signed on its behalf by:

Mr D Jones - Director

1.	STATUTORY INFORMATION

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

The financial statements have been prepared on a going concern basis.

Intangible assets

Patents purchased by the company are amortised individually over their anticipated economic life. The

anticipated economic life of the existing purchased patents is five years.

Applications for patents resulting from research and development expenditure is written off unless the patent has

a readily ascertainable market value in accordance with accounting standard FRS10.

During the period the costs involved in developing a prototype plant have been capitalised and will be amortised

over its anticipated useful life of four years. No depreciation has been charged in the current period.

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 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.

Research and development

With the exception of costs incurred in respect of the development of a prototype plant, expenditure on research

and development is written off in the year in which it is incurred

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 period was 5 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2016

41,600

Additions

369,321

At 31 December 2016

410,921

AMORTISATION

At 1 April 2016

36,227

Charge for period

2,600

At 31 December 2016

38,827

NET BOOK VALUE

At 31 December 2016

372,094

At 31 March 2016

5,373

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2016

£

£

Other debtors

79,044

58,043

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2016

£

£

Trade creditors

63,337

39,627

Taxation and social security

11,335

-

Other creditors

134,736

141,245

209,408

180,872

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2016

£

£

Other creditors

292,344

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2016

£

£

Other loans

419,139

-

These amounts are secured by a fixed and floating charge over all property or undertaking of the company.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 December 2016 and the

year ended 31 March 2016:

2016

2016

£

£

Mr M R Snowball

Balance outstanding at start of period

3,925

-

Amounts advanced

-

3,925

Amounts repaid

(3,925

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

3,925

M R Snowball has advanced monies to the company. At the balance sheet date the amount due to M R Snowball

is £213.