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Company Registration No. SC311050 (Scotland)
Upstream IT Limited Unaudited accounts for the year ended 31 October 2023
Upstream IT Limited Unaudited accounts Contents
Page
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Upstream IT Limited Company Information for the year ended 31 October 2023
Directors
Steven R Cowan William Dodd
Secretary
Steven Cowan
Company Number
SC311050 (Scotland)
Registered Office
Crescent House Enterprise Way Carnegie Campus Dunfermline KY11 8GR United Kingdom
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Upstream IT Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
20,000 
20,000 
Tangible assets
818 
82 
20,818 
20,082 
Current assets
Inventories
569 
957 
Debtors
18,228 
20,729 
Cash at bank and in hand
36,822 
43,132 
55,619 
64,818 
Creditors: amounts falling due within one year
(12,519)
(21,306)
Net current assets
43,100 
43,512 
Total assets less current liabilities
63,918 
63,594 
Creditors: amounts falling due after more than one year
(337)
(168)
Net assets
63,581 
63,426 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
63,580 
63,425 
Shareholders' funds
63,581 
63,426 
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by
Steven R Cowan Director Company Registration No. SC311050
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Upstream IT Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Upstream IT Limited is a private company, limited by shares, registered in Scotland, registration number SC311050. The registered office is Crescent House, Enterprise Way, Carnegie Campus, Dunfermline, KY11 8GR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives- 36 Months
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 November 2022
20,000 
At 31 October 2023
20,000 
Amortisation
At 1 November 2022
- 
At 31 October 2023
- 
Net book value
At 31 October 2023
20,000 
At 31 October 2022
20,000 
Intangible Fixed assets represent the holding in Bitcoin
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Upstream IT Limited Notes to the Accounts for the year ended 31 October 2023
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 November 2022
981 
Additions
791 
At 31 October 2023
1,772 
Depreciation
At 1 November 2022
899 
Charge for the year
55 
At 31 October 2023
954 
Net book value
At 31 October 2023
818 
At 31 October 2022
82 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
16,789 
19,584 
Accrued income and prepayments
1,188 
1,112 
Other debtors
251 
33 
18,228 
20,729 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
4,383 
4,778 
Trade creditors
6,798 
13,306 
Taxes and social security
1,305 
2,053 
Accruals
33 
1,169 
12,519 
21,306 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
337 
168 
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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