Registered number: 4590457 | ||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||
UPB PRODUCTS LTD | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
London | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 4590457 | ||||||||
UPB PRODUCTS LTD | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/12/2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
UPB PRODUCTS LTD | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
Investment Assets | 4 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 6 | |||||||||
Cash at bank and in hand | ||||||||||
4,408,154 | 4,228,524 | |||||||||
CREDITORS: Amounts falling due within one year | 7 | |||||||||
NET CURRENT ASSETS | 2,598,273 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 8 | 103,958 | 103,958 | |||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 | |||||||||
Profit and loss account | 4,117,218 | 3,324,410 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
UPB PRODUCTS LTD | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/12/2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
Land And Buildings | straight line 4% | |||||||
Plant and Machinery | straight line 25% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Goodwill | ||||||||
1f. Investments | ||||||||
Fixed asset investments are shown at cost less amounts written off. | ||||||||
Provisions are made for permanent fluctuations in value. |
UPB PRODUCTS LTD | ||||||||
1g. |
2. INTANGIBLE FIXED ASSETS | ||||
Purchased | ||||
Goodwill | Total | |||
£ | £ | |||
Cost | ||||
At 01/01/2023 | 800,000 | 800,000 | ||
At 31/12/2023 | 800,000 | 800,000 | ||
Depreciation | ||||
At 01/01/2023 | 800,000 | 800,000 | ||
At 31/12/2023 | 800,000 | 800,000 | ||
Net Book Amounts | ||||
At 31/12/2023 | ||||
3. TANGIBLE FIXED ASSETS | ||||||
Land And | Plant and | |||||
Buildings | Machinery | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/01/2023 | 942,266 | 629,362 | 1,571,628 | |||
Additions | - | 24,706 | 24,706 | |||
At 31/12/2023 | 942,266 | 654,068 | 1,596,334 | |||
Depreciation | ||||||
At 01/01/2023 | 120,000 | 621,653 | 741,653 | |||
For the year | 10,000 | 2,578 | 12,578 | |||
At 31/12/2023 | 130,000 | 624,231 | 754,231 | |||
Net Book Amounts | ||||||
At 31/12/2023 | 842,103 | |||||
At 31/12/2022 | 829,975 | |||||
UPB PRODUCTS LTD | ||||||||
4. FINANCIAL ASSETS | |||||||||
Shares in group companies | |||||||||
and participating interests | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
At 01/01/2023 | 220 | 220 | |||||||
At 31/12/2023 | 220 | 220 | |||||||
Amortisation | |||||||||
Net Book Amounts | |||||||||
At 31/12/2023 | 220 | 220 | |||||||
At 31/12/2022 | 220 | 220 | |||||||
The share in group company represent 100% holding in UPB Products BV, company incorporated and trading in Belgium.. | |||||||||
The company recieved management charge and commission amounting to £328,473 from its subsidiary company UPB Product BV during the year. | |||||||||
The amount has been shown as other operating income. |
5. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
6. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 655,731 | 428,721 | ||||||
VAT | 121,329 | 159,975 | ||||||
Amounts due from group companies | 92,098 | - | ||||||
869,158 | 588,696 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
UK corporation tax | 295,206 | 27,162 | ||||||
Directors current account | 6,838 | 8,415 | ||||||
Trade creditors | 722,634 | 1,564,863 | ||||||
Accruals | 4,523 | 29,811 | ||||||
1,029,201 | 1,630,251 | |||||||
UPB PRODUCTS LTD | ||||||||
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Other creditors > 1yr | 103,958 | 103,958 | ||||||
103,958 | 103,958 | |||||||
9. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 19 | |||||
10. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
11. CONTROLLING PARTY | ||||||||
The Estate of Mr A P Bhavsar (dec'd) holds 60% of the share capital. | ||||||||
12. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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