REGISTERED NUMBER: 10122277 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2018

for

ULTIMATE INC LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTOR:

L C Burton

SECRETARY:

REGISTERED OFFICE:

Llanover House

Llanover Road

Pontypridd

Mid Glamorgan

CF37 4DY

REGISTERED NUMBER:

10122277 (England and Wales)

ACCOUNTANTS:

James de Frias

Chartered Accountants

Llanover House

Llanover Road

Pontypridd

Mid Glamorgan

CF37 4DY

FIXED ASSETS

Tangible assets

4

8,719

11,298

CURRENT ASSETS

Stocks

3,520

2,510

Cash at bank and in hand

1,025

1,441

4,545

3,951

CREDITORS

Amounts falling due within one year

5

14,149

14,995

NET CURRENT LIABILITIES

(9,604

)

(11,044

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(885

)

254

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(985

)

154

(885

)

254

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 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 director on 31 August 2018 and were signed by:

L C Burton - Director

1.	STATUTORY INFORMATION

Ultimate Inc 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.

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.

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

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 3 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2017

and 30 April 2018

11,306

1,271

12,577

DEPRECIATION

At 1 May 2017

1,121

158

1,279

Charge for year

2,262

317

2,579

At 30 April 2018

3,383

475

3,858

NET BOOK VALUE

At 30 April 2018

7,923

796

8,719

At 30 April 2017

10,185

1,113

11,298

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade creditors

-

59

Taxation and social security

138

582

Other creditors

14,011

14,354

14,149

14,995

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits resulting in amounts owed to a director subsisted during the year ended 30 April 2018

and the period ended 30 April 2017:

30.4.18

30.4.17

£

£

L C Burton

Balance outstanding at start of year

(12,001

)

-

Amounts repaid

(126

)

(12,001

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(12,127

)

(12,001

)

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is L C Burton.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Ultimate Inc Limited for the year ended 30 April 2018 which comprise the Income Statement, Balance Sheet and the

related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Ultimate Inc Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ultimate Inc Limited and state those matters that we have agreed to state to the director of Ultimate Inc Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ultimate Inc Limited and its director for our work or for this report.

It is your duty to ensure that Ultimate Inc Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ultimate Inc Limited. You consider that Ultimate Inc Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ultimate Inc Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

James de Frias

Chartered Accountants

Llanover House

Llanover Road

Pontypridd

Mid Glamorgan

CF37 4DY

Date: .............................................