Uplink Electronics Ltd 11312196 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is that of electronics retail. Digita Accounts Production Advanced 6.30.9574.0 true 11312196 2022-05-01 2023-04-30 11312196 2023-04-30 11312196 bus:OrdinaryShareClass1 2023-04-30 11312196 core:RetainedEarningsAccumulatedLosses 2023-04-30 11312196 core:ShareCapital 2023-04-30 11312196 core:CurrentFinancialInstruments 2023-04-30 11312196 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 11312196 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 11312196 core:FurnitureFittings 2023-04-30 11312196 bus:SmallEntities 2022-05-01 2023-04-30 11312196 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 11312196 bus:FullAccounts 2022-05-01 2023-04-30 11312196 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 11312196 bus:RegisteredOffice 2022-05-01 2023-04-30 11312196 bus:Director1 2022-05-01 2023-04-30 11312196 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 11312196 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11312196 core:FurnitureFittings 2022-05-01 2023-04-30 11312196 countries:AllCountries 2022-05-01 2023-04-30 11312196 2022-04-30 11312196 core:FurnitureFittings 2022-04-30 11312196 2021-05-01 2022-04-30 11312196 2022-04-30 11312196 bus:OrdinaryShareClass1 2022-04-30 11312196 core:RetainedEarningsAccumulatedLosses 2022-04-30 11312196 core:ShareCapital 2022-04-30 11312196 core:CurrentFinancialInstruments 2022-04-30 11312196 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 11312196 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 11312196 core:FurnitureFittings 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11312196

Uplink Electronics Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Uplink Electronics Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Uplink Electronics Ltd

Company Information

Director

Armie Lichauco

Registered office

70 London Road
Brighton
BN1 4JE

Accountants

Curve Accountancy
65 Gales Drive
Three Bridges
Crawley
West Sussex
RH10 1QA

 

Uplink Electronics Ltd

(Registration number: 11312196)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

190

253

Current assets

 

Stocks

5

24,743

23,698

Debtors

6

-

641

Cash at bank and in hand

 

3,562

10,992

 

28,305

35,331

Creditors: Amounts falling due within one year

7

(17,434)

(16,960)

Net current assets

 

10,871

18,371

Total assets less current liabilities

 

11,061

18,624

Creditors: Amounts falling due after more than one year

7

(10,000)

(14,798)

Provisions for liabilities

(35)

(47)

Net assets

 

1,026

3,779

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

1,025

3,778

Shareholders' funds

 

1,026

3,779

 

Uplink Electronics Ltd

(Registration number: 11312196)
Balance Sheet as at 30 April 2023

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 October 2023
 

.........................................
Armie Lichauco
Director

 

Uplink Electronics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
70 London Road
Brighton
BN1 4JE

These financial statements were authorised for issue by the director on 26 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Uplink Electronics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25% Reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Uplink Electronics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Uplink Electronics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 May 2022

798

798

At 30 April 2023

798

798

Depreciation

At 1 May 2022

545

545

Charge for the year

63

63

At 30 April 2023

608

608

Carrying amount

At 30 April 2023

190

190

At 30 April 2022

253

253

5

Stocks

2023
£

2022
£

Other inventories

24,743

23,698

6

Debtors

Current

2023
£

2022
£

Prepayments

-

641

 

Uplink Electronics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

4,800

4,800

Trade creditors

 

424

486

Taxation and social security

 

1,749

2,965

Accruals and deferred income

 

227

220

Other creditors

 

10,234

8,489

 

17,434

16,960

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10,000

14,798

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

As at the year end the total amount of non-cancellable future operating lease commitments not included in the balance sheet is £36,000 (2022 - £48,000).