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Registered Number: 11985823
England & Northern Ireland

 

 

 

UPSTREAM FINANCE TECHNOLOGIES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 21 April 2022

End date: 20 April 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 62,419    79,411 
62,419    79,411 
Current assets      
Stocks 1,050    2,940 
Debtors 499    3,888 
Cash at bank and in hand 2,135    41,488 
3,684    48,316 
Creditors: amount falling due within one year 1    1 
Net current assets 3,685    48,317 
 
Total assets less current liabilities 66,104    127,728 
Creditors: amount falling due after more than one year (264,621)   (250,473)
Net liabilities (198,517)   (122,745)
 

Capital and reserves
     
Called up share capital 4 12    12 
Profit and loss account (198,529)   (122,757)
Shareholder's funds (198,517)   (122,745)
 


For the year ended 20 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:
  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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 19 January 2024 and were signed by:


-------------------------------
Syed Raza Haider
Director
1
General Information
UPSTREAM FINANCE TECHNOLOGIES LIMITED is a private company, limited by shares, registered in England & Northern Ireland, registration number 11985823, registration address 4 Shelvers Hill, Tadworth, England, KT20 5PU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 10% Straight Line
Motor Vehicles 25% Straight Line
Fixtures and Fittings 33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 21 April 2022 49,269    14,691    43,423    107,383 
Additions 5,760      1,120    6,880 
Disposals      
At 20 April 2023 55,029    14,691    44,543    114,263 
Depreciation
At 21 April 2022 5,239    7,346    15,387    27,972 
Charge for year 5,502    3,671    14,699    23,872 
On disposals      
At 20 April 2023 10,741    11,017    30,086    51,844 
Net book values
Closing balance as at 20 April 2023 44,288    3,674    14,457    62,419 
Opening balance as at 21 April 2022 44,030    7,345    28,036    79,411 


4.

Share Capital

Allotted, called up and partly paid
2023
£
  2022
£
120 Class A shares of £0.10 each 12    12 
12    12 

5.

Director’s loan

Loan from the director

The Loan from the Director, Mr Syed Raza Haider, is unsecured and subordinated in favor of third-party creditors and the company expenditures. The Lender promises to loan the sum of £ 216310/- (Two Hundred and Sixteen Thousand, Three Hundred and Ten) to Upstream Finance Technologies limited.
2