REGISTERED NUMBER:
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Strategic Report, Report of the Directors and |
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Financial Statements for the Period 9 December 2020 to 30 November 2021 |
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Ultracell (UK) Limited |
REGISTERED NUMBER:
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Strategic Report, Report of the Directors and |
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Financial Statements for the Period 9 December 2020 to 30 November 2021 |
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for |
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Ultracell (UK) Limited |
Ultracell (UK) Limited (Registered number: 04319719) |
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Contents of the Financial Statements |
for the Period 9 December 2020 to 30 November 2021 |
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Page |
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Company Information | 1 |
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Strategic Report | 2 |
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Report of the Directors | 3 |
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Report of the Independent Auditors | 5 |
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Income Statement | 8 |
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Other Comprehensive Income | 9 |
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Balance Sheet | 10 |
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Statement of Changes in Equity | 11 |
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Cash Flow Statement | 12 |
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Notes to the Cash Flow Statement | 13 |
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Notes to the Financial Statements | 14 |
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Ultracell (UK) Limited |
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Company Information |
for the Period 9 December 2020 to 30 November 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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116 Duke Street |
Liverpool |
England |
L1 5JW |
Ultracell (UK) Limited (Registered number: 04319719) |
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Strategic Report |
for the Period 9 December 2020 to 30 November 2021 |
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The directors present their strategic report for the period 9 December 2020 to 30 November 2021. |
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The company's business consists of the the importation and distribution of batteries. |
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REVIEW OF BUSINESS |
We have continued to perform well during the year in spite of the recent economic uncertainty. |
Overall turnover was almost the same as the previous year, but margin reduced due to increased costs and sales price reductions. |
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The company's reserves at the year end increased by £151,842 to £1,559,526 and this was after paying out dividends of £750,000. The cash balances of over £3 million, are sufficient to manage foreign currency fluctuations, cost price increases and any decline in the sector. |
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We have faired well during the COVID-19 pandemic in relation to our turnover as there has been an increase in the need for batteries for ventilators and hand sanitisers. |
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We have taken a number of measures to monitor and mitigate the effects of COVID-19, such as health and safety measures for our employees including social distancing in the offices and warehouses, tighter hygiene protocols and securing the supply of goods that are essential to our business. |
We will continue to follow the various government policies and advice and, in parallel, we will do our utmost to continue our operations in the best and safest way possible without jeopardising the health of our people. |
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PRINCIPAL RISKS AND UNCERTAINTIES |
The company is exposed to fluctuations in demand that could arise due to changes in the economic climate. We manage this by ensuring that we have sufficient reserves to fund any period of decline. |
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The continued uncertainty surrounding Brexit is a risk to the business, although our exposure to imports and exports from the EU is minimal. |
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The company is exposed to foreign exchange risk as some products are purchased in US Dollars and sold in Sterling. We manage this risk by holding funds in US Dollars and Euros and by forward buying currency. |
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FUTURE DEVELOPMENTS |
The company has invested in the manufacture of a new range of lithium batteries that are more environmentally friendly. |
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ON BEHALF OF THE BOARD: |
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Ultracell (UK) Limited (Registered number: 04319719) |
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Report of the Directors |
for the Period 9 December 2020 to 30 November 2021 |
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The directors present their report with the financial statements of the company for the period 9 December 2020 to 30 November 2021. |
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DIVIDENDS |
An interim dividend of £ |
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The total distribution of dividends for the period ended 30 November 2021 will be £
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FUTURE DEVELOPMENTS |
Details of future developments are included within the Review of Business in the Strategic Report. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 9 December 2020 to the date of this report. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
Ultracell (UK) Limited (Registered number: 04319719) |
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Report of the Directors |
for the Period 9 December 2020 to 30 November 2021 |
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AUDITORS |
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
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ON BEHALF OF THE BOARD: |
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Report of the Independent Auditors to the Members of |
Ultracell (UK) Limited |
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Opinion |
We have audited the financial statements of Ultracell (UK) Limited (the 'company') for the period ended 30 November 2021 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
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In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 November 2021 and of its profit for the period then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
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Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
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Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
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Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
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Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Report of the Independent Auditors to the Members of |
Ultracell (UK) Limited |
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Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
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Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
Ultracell (UK) Limited |
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Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
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The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
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Identifying and Assessing Potential Risks Related to Irregularities |
Enquiring of management, including obtaining and reviewing supporting documentation concerning the company's policies and procedures relating to: |
Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance |
detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud |
the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations |
discussing among the engagement team including relevant internal specialists, including tax, valuations, pensions and IT regarding how and where fraud might occur in the financial statements and any potential indicators of fraud |
obtaining an understanding of the legal and regulatory framework that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the company. The key laws and regulations we considered in this context included the Companies Act 2006, Pension legislation, Tax legislation, and Health and Safety requirements. |
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Audit Response to Risks Identified |
In addition to the above, our procedures to respond to risks identified included the following: |
reviewing the Financial Statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations discussed above; |
enquiring of management concerning actual and potential litigation and claims; |
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and |
in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |
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We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |
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A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
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Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
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for and on behalf of
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116 Duke Street |
Liverpool |
England |
L1 5JW |
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Ultracell (UK) Limited (Registered number: 04319719) |
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Income Statement |
for the Period 9 December 2020 to 30 November 2021 |
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Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
Notes | £ | £ |
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TURNOVER | 3 |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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1,180,756 | 2,100,699 |
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Other operating income |
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OPERATING PROFIT | 5 |
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Currency revaluations | 6 |
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1,192,756 | 1,589,437 |
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Interest receivable and similar income |
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1,212,323 | 1,612,168 |
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Interest payable and similar expenses | 7 |
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PROFIT BEFORE TAXATION |
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Tax on profit | 8 |
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PROFIT FOR THE FINANCIAL PERIOD |
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Ultracell (UK) Limited (Registered number: 04319719) |
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Other Comprehensive Income |
for the Period 9 December 2020 to 30 November 2021 |
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Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
Notes | £ | £ |
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PROFIT FOR THE PERIOD |
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OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD |
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Ultracell (UK) Limited (Registered number: 04319719) |
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Balance Sheet |
30 November 2021 |
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30.11.21 | 8.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 10 |
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Tangible assets | 11 |
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CURRENT ASSETS |
Stocks | 12 |
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Debtors | 13 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 14 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 16 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 17 |
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Retained earnings | 18 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Ultracell (UK) Limited (Registered number: 04319719) |
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Statement of Changes in Equity |
for the Period 9 December 2020 to 30 November 2021 |
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Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
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Balance at 9 December 2019 |
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Changes in equity |
Dividends | - | ( |
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Total comprehensive income | - |
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Balance at 8 December 2020 |
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Changes in equity |
Dividends | - | ( |
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Total comprehensive income | - |
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Balance at 30 November 2021 |
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Ultracell (UK) Limited (Registered number: 04319719) |
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Cash Flow Statement |
for the Period 9 December 2020 to 30 November 2021 |
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Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
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Interest paid | ( |
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Tax paid | ( |
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Net cash from operating activities |
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Cash flows from investing activities |
Purchase of intangible fixed assets | ( |
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Purchase of tangible fixed assets | ( |
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Sale of intangible fixed assets |
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Interest received |
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Net cash from investing activities | ( |
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Cash flows from financing activities |
Participating interests | 27,058 | (26,767 | ) |
Amount withdrawn by directors | (299,746 | ) | (275,157 | ) |
Equity dividends paid | ( |
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Net cash from financing activities | ( |
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Increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of
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2 |
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1,889,008 |
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Cash and cash equivalents at end of
period |
2 |
3,551,539 |
3,375,159 |
Ultracell (UK) Limited (Registered number: 04319719) |
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Notes to the Cash Flow Statement |
for the Period 9 December 2020 to 30 November 2021 |
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1. |
RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS |
Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
£ | £ |
Profit before taxation |
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Depreciation charges |
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Loss on disposal of fixed assets |
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Finance costs | 5,721 | 5,472 |
Finance income | (19,567 | ) | (22,731 | ) |
1,390,119 | 1,775,394 |
Decrease in stocks |
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Decrease in trade and other debtors |
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(Decrease)/increase in trade and other creditors | ( |
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Cash generated from operations |
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2. | CASH AND CASH EQUIVALENTS |
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The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
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Period ended 30 November 2021 |
30.11.21 | 9.12.20 |
£ | £ |
Cash and cash equivalents | 3,551,539 | 3,375,159 |
Year ended 8 December 2020 |
8.12.20 | 9.12.19 |
£ | £ |
Cash and cash equivalents | 3,375,159 | 1,889,008 |
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3. | ANALYSIS OF CHANGES IN NET FUNDS |
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At 9.12.20 | Cash flow | At 30.11.21 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 3,375,159 | 176,380 | 3,551,539 |
3,375,159 |
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3,551,539 |
Total | 3,375,159 | 176,380 | 3,551,539 |
Ultracell (UK) Limited (Registered number: 04319719) |
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Notes to the Financial Statements |
for the Period 9 December 2020 to 30 November 2021 |
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1. | STATUTORY INFORMATION |
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Ultracell (UK) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04319719 and the registered office is 7 Vesty Business Park, Liverpool, Merseyside L30 1NY. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The principal activities of the company are the importation and distribution of batteries. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
During the year we saw an increase in sales due to customers panic buying and our batteries being used in ventilators and hand sanitiser units. We had longer delivery times on orders from abroad so goods were preordered before the arrived so this resulted in lower stock levels at the year end. |
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At the time of approving the financial statements and having due regard to the impact of covid-19, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt a going concern basis of accounting in preparing the financial statements. |
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Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable on the importation and distribution of batteries, excluding discounts, rebates, value added tax and other sales taxes. Income is recognised when goods are despatched. |
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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. |
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Tangible fixed assets |
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Long leasehold | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Fixed assets are recognised at cost, less depreciation and impairment where necessary |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Financial instruments |
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
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Ultracell (UK) Limited (Registered number: 04319719) |
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Notes to the Financial Statements - continued |
for the Period 9 December 2020 to 30 November 2021 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | TURNOVER |
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The turnover and profit before taxation are attributable to the one principal activity of the company. |
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An analysis of turnover by geographical market is given below: |
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Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
£ | £ |
United Kingdom |
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Europe |
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Non EU | 11,088,675 | 8,976,555 |
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Ultracell (UK) Limited (Registered number: 04319719) |
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Notes to the Financial Statements - continued |
for the Period 9 December 2020 to 30 November 2021 |
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4. | EMPLOYEES AND DIRECTORS |
Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
£ | £ |
Wages and salaries |
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Other pension costs |
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The average number of employees during the period was as follows: |
Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
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Staff |
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The company operates a defined contribution pension scheme that all employees in that company are entitled to join. The cost for the year amounted to £10,063 (2020 - £7,728). Included in other creditors is £1,815 (2020 - £1,925) relating to pension contributions unpaid at the year end. |
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Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
£ | £ |
Directors' remuneration |
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5. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
£ | £ |
Depreciation - owned assets |
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Loss on disposal of fixed assets |
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Patents and licences amortisation |
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Rent |
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6. | EXCEPTIONAL ITEMS |
Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
£ | £ |
Currency revaluations |
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( |
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In the prior year exceptional items totalling £536,262 relate to the opening stock, debtors and creditors being revalued at the currency rate prevailing at the previous year end. |
Ultracell (UK) Limited (Registered number: 04319719) |
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Notes to the Financial Statements - continued |
for the Period 9 December 2020 to 30 November 2021 |
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7. | INTEREST PAYABLE AND SIMILAR EXPENSES |
Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
£ | £ |
Bank interest |
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HMRC penalties & interest |
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8. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit for the period was as follows: |
Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
£ | £ |
Current tax: |
UK corporation tax |
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Amendment to prior year | (26,220 | ) | (3,194 | ) |
Total current tax |
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Deferred tax |
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Tax on profit |
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9. | DIVIDENDS |
Period |
9.12.20 |
to | Year Ended |
30.11.21 | 8.12.20 |
£ | £ |
Interim |
|
|
Ultracell (UK) Limited (Registered number: 04319719) |
|
Notes to the Financial Statements - continued |
for the Period 9 December 2020 to 30 November 2021 |
|
10. | INTANGIBLE FIXED ASSETS |
Patents |
and |
licences |
£ |
COST |
At 9 December 2020 |
|
Additions |
|
Disposals | ( |
) |
At 30 November 2021 |
|
AMORTISATION |
At 9 December 2020 |
|
Amortisation for period |
|
Eliminated on disposal | ( |
) |
At 30 November 2021 |
|
NET BOOK VALUE |
At 30 November 2021 |
|
At 8 December 2020 |
|
|
11. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | Plant and | and |
leasehold | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 9 December 2020 |
|
|
|
|
Additions |
|
|
|
|
At 30 November 2021 |
|
|
|
|
DEPRECIATION |
At 9 December 2020 |
|
|
|
|
Charge for period |
|
|
|
|
At 30 November 2021 |
|
|
|
|
NET BOOK VALUE |
At 30 November 2021 |
|
|
|
|
At 8 December 2020 |
|
|
|
|
|
12. | STOCKS |
30.11.21 | 8.12.20 |
£ | £ |
Stocks |
|
|
Ultracell (UK) Limited (Registered number: 04319719) |
|
Notes to the Financial Statements - continued |
for the Period 9 December 2020 to 30 November 2021 |
|
13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.21 | 8.12.20 |
£ | £ |
Trade debtors |
|
|
Amounts owed by participating interests | - | 26,766 |
Directors' current accounts | 1,029,286 | 729,540 |
VAT |
|
|
Prepayments |
|
|
|
|
|
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.21 | 8.12.20 |
£ | £ |
Trade creditors |
|
|
Tax |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
Accrued expenses |
|
|
|
|
|
15. | LEASING AGREEMENTS |
|
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.11.21 | 8.12.20 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
In more than five years |
|
|
|
|
|
Property leases are over 10 years, rent reviews are carried out every 5 years. |
|
16. | PROVISIONS FOR LIABILITIES |
30.11.21 | 8.12.20 |
£ | £ |
Deferred tax | 239,915 | 154,129 |
|
Deferred |
tax |
£ |
Balance at 9 December 2020 |
|
Provided during period |
|
Balance at 30 November 2021 |
|
Ultracell (UK) Limited (Registered number: 04319719) |
|
Notes to the Financial Statements - continued |
for the Period 9 December 2020 to 30 November 2021 |
|
17. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.21 | 8.12.20 |
value: | £ | £ |
|
Ordinary | £1 | 2 | 2 |
|
18. | RESERVES |
Retained |
earnings |
£ |
|
At 9 December 2020 |
|
Profit for the period |
|
Dividends | ( |
) |
At 30 November 2021 |
|
|
19. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
The company paid rent in the year totalling £229,732 (2020 £225,607) to the directors, D Murray and M McGuinness. |
|
Both D Murray and M McGuinness, directors, operate current accounts with the company to which transactions of a private nature are charged. As at 8 December 2020, D Murray owed £609,122 (2020 £518,818) and M McGuinness owed £420,165 (2020 £210,722) to the company, which is included in other debtors. The loans are repayable on demand and interest has been charged at 2.25%. |
|
20. | ULTIMATE CONTROLLING PARTY |
|
|