Caseware UK (AP4) 2021.0.152 2021.0.152 2022-04-302022-04-30false2021-05-012true2Support activities for petroleum and natural gas extractiontrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06284760 2021-05-01 2022-04-30 06284760 2020-05-01 2021-04-30 06284760 2022-04-30 06284760 2021-04-30 06284760 c:Director2 2021-05-01 2022-04-30 06284760 d:ComputerEquipment 2021-05-01 2022-04-30 06284760 d:ComputerEquipment 2022-04-30 06284760 d:ComputerEquipment 2021-04-30 06284760 d:CurrentFinancialInstruments 2022-04-30 06284760 d:CurrentFinancialInstruments 2021-04-30 06284760 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 06284760 d:CurrentFinancialInstruments d:WithinOneYear 2021-04-30 06284760 d:ShareCapital 2022-04-30 06284760 d:ShareCapital 2021-04-30 06284760 d:RetainedEarningsAccumulatedLosses 2022-04-30 06284760 d:RetainedEarningsAccumulatedLosses 2021-04-30 06284760 c:FRS102 2021-05-01 2022-04-30 06284760 c:AuditExempt-NoAccountantsReport 2021-05-01 2022-04-30 06284760 c:FullAccounts 2021-05-01 2022-04-30 06284760 c:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure

Registered number: 06284760









UPSTREAM SOLUTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2022

 
UPSTREAM SOLUTIONS LIMITED
 

CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 6


 
UPSTREAM SOLUTIONS LIMITED
REGISTERED NUMBER: 06284760

BALANCE SHEET
AS AT 30 APRIL 2022

2022
2021
Note
£
£

  

Current assets
  

Cash at bank and in hand
 5 
31,656
122,458

Creditors: amounts falling due within one year
 6 
(31,470)
(96,327)

Net current assets
  
 
 
186
 
 
26,131

Total assets less current liabilities
  
186
26,131


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
184
26,129

  
186
26,131


Page 1

 
UPSTREAM SOLUTIONS LIMITED
REGISTERED NUMBER: 06284760
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T Mackay
Director

Date: 12 August 2022

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
UPSTREAM SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

1.


General information

Upstream Solutions Limited is a private company limited by shares, incorporated in England & Wales. Its registered office is 64 New Cavendish Street, London, W1G 8TB. The principal place of business is Springbank, Fair Mile, Stoke Prior, Leominster, Herefordshire, HR6 0SA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

IThe financial statements have been prepared on the going concern basis. The company is dependent on the director and shareholder for financial support, which the director has indicated will continue for a period of at least another 12 months following the approval of these financial statements.
As at 30 April 2022, the company had net liabilities of £50,567. The director and shareholder has indicated present intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the director and shareholder.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
UPSTREAM SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
3 year straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
UPSTREAM SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 May 2021
1,988



At 30 April 2022

1,988



Depreciation


At 1 May 2021
1,988



At 30 April 2022

1,988



Net book value



At 30 April 2022
-



At 30 April 2021
-

Page 5

 
UPSTREAM SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022

5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
31,656
122,458



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Corporation tax
247
8,383

Other taxation and social security
829
6,550

Other creditors
27,394
78,394

Accruals and deferred income
3,000
3,000

31,470
96,327



7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,000  (2021 - £20,000).

 
Page 6