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REGISTERED NUMBER: NI032649 (Northern Ireland)















UPWARD INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023






UPWARD INVESTMENTS LIMITED (REGISTERED NUMBER: NI032649)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


UPWARD INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Eamon McNelis
Francis McNelis





REGISTERED OFFICE: 93 Omagh Rd
Ballygawley
Co. Tyrone
BT70 2BY





REGISTERED NUMBER: NI032649 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly Chartered Accountants
43 Dublin Road
Omagh
Co. Tyrone
BT78 1HE

UPWARD INVESTMENTS LIMITED (REGISTERED NUMBER: NI032649)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £ £
NON-CURRENT ASSETS
Property, plant and equipment 5 614,932 620,129

CURRENT ASSETS
Receivables: amounts falling due within
one year

6

3,641

-
Cash at bank 72,029 26,874
75,670 26,874
PAYABLES
Amounts falling due within one year 7 (331,164 ) (328,052 )
NET CURRENT LIABILITIES (255,494 ) (301,178 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

359,438

318,951

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 359,436 318,949
359,438 318,951

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





Francis McNelis - Director


UPWARD INVESTMENTS LIMITED (REGISTERED NUMBER: NI032649)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Upward Investments Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Nil
Plant and machinery - 15% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand and deposits held at call with banks.

Share capital
Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new
ordinary shares are shown in equity as a deduction, net of tax, from the proceeds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

UPWARD INVESTMENTS LIMITED (REGISTERED NUMBER: NI032649)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and
property machinery Totals
£ £ £
COST
At 1 August 2022 614,710 7,500 622,210
Additions (4,384 ) - (4,384 )
At 31 July 2023 610,326 7,500 617,826
DEPRECIATION
At 1 August 2022 - 2,081 2,081
Charge for year - 813 813
At 31 July 2023 - 2,894 2,894
NET BOOK VALUE
At 31 July 2023 610,326 4,606 614,932
At 31 July 2022 614,710 5,419 620,129

6. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other receivables 3,641 -

7. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Taxation and social security 10,520 9,654
Other payables 320,644 318,398
331,164 328,052