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Registration number: 07156550

Up Marquees Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Up Marquees Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Up Marquees Limited

Company Information

Director

Mr C J Walker

Company secretary

Mr P D Walker

Registered office

Stanhope House
Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN

 

Accountants

Pennington Williams Limited
Chartered Certified Accountants
Stanhope House
Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN

 

Up Marquees Limited

(Registration number: 07156550)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

249,100

256,858

Current assets

 

Debtors

5

5,169

3,789

Cash at bank and in hand

 

4,406

4,654

 

9,575

8,443

Creditors: Amounts falling due within one year

6

(293,324)

(264,359)

Net current liabilities

 

(283,749)

(255,916)

Total assets less current liabilities

 

(34,649)

942

Creditors: Amounts falling due after more than one year

6

(54,170)

(60,227)

Net liabilities

 

(88,819)

(59,285)

Capital and reserves

 

Called up share capital

7

1

1

Other reserves

154,110

154,110

Retained earnings

(242,930)

(213,396)

Shareholders' deficit

 

(88,819)

(59,285)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Up Marquees Limited

(Registration number: 07156550)
Balance Sheet as at 31 March 2024

Approved and authorised by the director on 16 October 2024
 

.........................................

Mr P D Walker
Company secretary

 

Up Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Stanhope House
Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN
England

The principal place of business is:
24 Park View
Afonwen
Mold
Flintshire
CH7 5UE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Up Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

8% Straight Line

Motor Vehicles

25% Straight Line

Office Equipment

25% Straight Line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Up Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

Up Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

397,264

10,286

120,782

528,332

Additions

8,546

2,348

5,000

15,894

Disposals

-

(2,456)

(3,086)

(5,542)

At 31 March 2024

405,810

10,178

122,696

538,684

Depreciation

At 1 April 2023

145,468

10,286

115,720

271,474

Charge for the year

20,128

587

2,938

23,653

Eliminated on disposal

-

(2,456)

(3,087)

(5,543)

At 31 March 2024

165,596

8,417

115,571

289,584

Carrying amount

At 31 March 2024

240,214

1,761

7,125

249,100

At 31 March 2023

251,796

-

5,062

256,858

Revaluation

The fair value of the company's Furniture, fittings & equipment was revalued on 31 March 2023. An independent valuer was not involved.
The furniture, fittings & equipment was valued on an open market basis by the director.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £86,013 (2023 - £97,686).

5

Debtors

Current

2024
£

2023
£

Prepayments

2,313

2,305

Other debtors

2,856

1,484

 

5,169

3,789

 

Up Marquees Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

9,707

9,707

Taxation and social security

 

1,520

2,164

Accruals and deferred income

 

6,200

8,500

Other creditors

 

275,897

243,988

 

293,324

264,359

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

54,170

60,227

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

54,170

60,227

2024
£

2023
£

Current loans and borrowings

Other borrowings

9,707

9,707