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Registered Number: NI624668
Northern Ireland

 

 

 

UP PRODUCTIONS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
Director Sarah McBriar
Registered Number NI624668
Registered Office 12 Cromac Place
Belfast
BT7 2JB
Accountants Magic Beans Accounts Limited
12 Cromac Place
Belfast
BT7 2JB
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 17,628    25,192 
17,628    25,192 
Current assets      
Debtors: amounts falling due within one year 5 200,421    38,066 
Cash at bank and in hand 423,002    560,237 
623,423    598,303 
Creditors: amount falling due within one year 6 (300,002)   (100,511)
Net current assets 323,421    497,792 
 
Total assets less current liabilities 341,049    522,984 
Creditors: amount falling due after more than one year 7 (25,833)   (35,833)
Accruals and deferred income (20,947)   (74,935)
Net assets 294,269    412,216 
 

Capital and reserves
     
Called up share capital 61    103 
Capital Redemption Reserve 8 42   
General Reserves 9  
Profit and loss account 294,166    412,113 
Shareholder's funds 294,269    412,216 
 


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 16 October 2023 and were signed by:


-------------------------------
Sarah McBriar
Director
2
General Information
Up Productions Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI624668, registration address 12 Cromac Place, Belfast, BT7 2JB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 10% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Preference shares
The company's preference shares are treated as a financial liability since they are subject to mandatory redemption for a fixed or determinable amount at a fixed or determinable time and are thus included in creditors in the balance sheet rather than as part of the company's issued share capital.
2.

Average number of employees

The average monthly number of employees, including director, during the financial year was 4 (4 in 2022).
Average number of employees during the year was 4 (2022 : 4).
3.

Financial Commitments, Guarantees and Contingencies

The company had no material capital commitments at the financial year ended 31st  January 2023.

4.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 February 2022 34,349    34,349 
Additions  
Disposals  
At 31 January 2023 34,349    34,349 
Depreciation
At 01 February 2022 9,156    9,156 
Charge for year 7,565    7,565 
On disposals  
At 31 January 2023 16,721    16,721 
Net book values
Closing balance as at 31 January 2023 17,628    17,628 
Opening balance as at 01 February 2022 25,192    25,192 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 65,642    359 
Other Debtors 134,779    37,707 
200,421    38,066 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 154,839    2,882 
Bank Loans & Overdrafts 10,000    10,000 
Taxation and Social Security 44,661    87,335 
Other Creditors 90,502    294 
300,002    100,511 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 25,833    35,833 
25,833    35,833 

8.

Capital Redemption Reserve

2023
£
  2022
£
Purchase of Own Shares (Nominal Value) 42   
42   

9.

General Reserves

2023
£
  2022
£
General Reserve  
 

10.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Related party transactions

There were no related party transactions during the year ended 31st January 2023.
11.

Director’s loan

Director's advances, credits and guarantees

The loan to the director is unsecured and interest free.  The amount owed to the director is included in creditors due within one year.
3