Acorah Software Products - Accounts Production 15.0.400 false true 28 February 2023 1 February 2022 false 1 March 2023 28 February 2024 28 February 2024 13884878 Mr OLUWASEUN FASANYA Mr Oluwaseun Fasanya iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13884878 2023-02-28 13884878 2024-02-28 13884878 2023-03-01 2024-02-28 13884878 frs-core:CurrentFinancialInstruments 2024-02-28 13884878 frs-core:Non-currentFinancialInstruments 2024-02-28 13884878 frs-core:FurnitureFittings 2024-02-28 13884878 frs-core:FurnitureFittings 2023-03-01 2024-02-28 13884878 frs-core:FurnitureFittings 2023-02-28 13884878 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 13884878 frs-core:ShareCapital 2024-02-28 13884878 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 13884878 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 13884878 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 13884878 frs-bus:SmallEntities 2023-03-01 2024-02-28 13884878 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 13884878 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 13884878 frs-bus:Director1 2023-03-01 2024-02-28 13884878 frs-bus:Director2 2023-03-01 2024-02-28 13884878 frs-countries:EnglandWales 2023-03-01 2024-02-28 13884878 2022-01-31 13884878 2023-02-28 13884878 2022-02-01 2023-02-28 13884878 frs-core:CurrentFinancialInstruments 2023-02-28 13884878 frs-core:Non-currentFinancialInstruments 2023-02-28 13884878 frs-core:ShareCapital 2023-02-28 13884878 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 13884878
My Upper Room Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
TaxAssist Accountants
53-55 Station Road
Letchworth
Herts
SG6 3BJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13884878
28 February 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 934 603
Investment Properties 5 126,493 126,493
127,427 127,096
CURRENT ASSETS
Debtors 6 372 365
Cash at bank and in hand 1,173 103
1,545 468
Creditors: Amounts Falling Due Within One Year 7 (43,348 ) (43,417 )
NET CURRENT ASSETS (LIABILITIES) (41,803 ) (42,949 )
TOTAL ASSETS LESS CURRENT LIABILITIES 85,624 84,147
Creditors: Amounts Falling Due After More Than One Year 8 (91,125 ) (91,125 )
NET LIABILITIES (5,501 ) (6,978 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (5,503 ) (6,980 )
SHAREHOLDERS' FUNDS (5,501) (6,978)
Page 1
Page 2
For the year ending 28 February 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Oluwaseun Fasanya
Director
23rd August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
My Upper Room Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13884878 . The registered office is 12 Pomeroy Grove, Luton, Bedfordshire, LU2 7SY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Fixtures & Fittings 10% RBM
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 March 2023 670
Additions 435
As at 28 February 2024 1,105
Depreciation
As at 1 March 2023 67
Provided during the period 104
As at 28 February 2024 171
...CONTINUED
Page 3
Page 4
Net Book Value
As at 28 February 2024 934
As at 1 March 2023 603
5. Investment Property
28 February 2024
£
Fair Value
As at 1 March 2023 and 28 February 2024 126,493
6. Debtors
28 February 2024 28 February 2023
£ £
Due within one year
Prepayments and accrued income 372 365
7. Creditors: Amounts Falling Due Within One Year
28 February 2024 28 February 2023
£ £
Directors' loan accounts 43,348 43,417
8. Creditors: Amounts Falling Due After More Than One Year
28 February 2024 28 February 2023
£ £
Bank loans 91,125 91,125
9. Share Capital
28 February 2024 28 February 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4