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REGISTERED NUMBER: SC411499 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

DEREK UPTON LTD.

DEREK UPTON LTD. (REGISTERED NUMBER: SC411499)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DEREK UPTON LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: D Upton





REGISTERED OFFICE: 9 Braesburn Court
Whitelees
Cumbernauld
Glasgow
G67 3PU





REGISTERED NUMBER: SC411499 (Scotland)





ACCOUNTANT: John Murphy & Company (Scotland) Limited
Chartered Accountants
Castle Chambers
67 Main Street
Bothwell
Lanarkshire
G71 8ER

DEREK UPTON LTD. (REGISTERED NUMBER: SC411499)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,696 18,553

CURRENT ASSETS
Stocks 5 3,400 3,400
Debtors 6 16,344 18,846
Cash at bank 88,421 90,790
108,165 113,036
CREDITORS
Amounts falling due within one year 7 10,897 16,425
NET CURRENT ASSETS 97,268 96,611
TOTAL ASSETS LESS CURRENT
LIABILITIES

126,964

115,164

PROVISIONS FOR LIABILITIES 8 5,642 3,525
NET ASSETS 121,322 111,639

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 121,320 111,637
SHAREHOLDERS' FUNDS 121,322 111,639

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

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

The director acknowledges his 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 director and authorised for issue on 11 September 2024 and were signed by:





D Upton - Director


DEREK UPTON LTD. (REGISTERED NUMBER: SC411499)

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

1. STATUTORY INFORMATION

Derek Upton Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 20% on cost and 10% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

DEREK UPTON LTD. (REGISTERED NUMBER: SC411499)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 4,080 4,304 20,519 28,903
Additions - - 27,830 27,830
Disposals - - (20,519 ) (20,519 )
At 31 December 2023 4,080 4,304 27,830 36,214
DEPRECIATION
At 1 January 2023 2,962 2,258 5,130 10,350
Charge for year 291 543 4,226 5,060
Eliminated on disposal - - (8,892 ) (8,892 )
At 31 December 2023 3,253 2,801 464 6,518
NET BOOK VALUE
At 31 December 2023 827 1,503 27,366 29,696
At 31 December 2022 1,118 2,046 15,389 18,553

5. STOCKS
31.12.23 31.12.22
£    £   
Stock 3,400 3,400

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 12,907 16,912
VAT 2,731 1,268
Prepayments 706 666
16,344 18,846

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 101 473
Corporation tax 7,351 13,317
Payroll taxation 520 490
Directors' current accounts 1,229 667
Accrued charges 1,696 1,478
10,897 16,425

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 5,642 3,525

DEREK UPTON LTD. (REGISTERED NUMBER: SC411499)

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

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 3,525
Provided during year 2,117
Balance at 31 December 2023 5,642

9. ULTIMATE CONTROLLING PARTY

The controlling party is D Upton.