Up & Running (UK) Ltd SC427543 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Retailing of running shoes, sporting goods and accessories Digita Accounts Production Advanced 6.30.9574.0 true true SC427543 2023-01-01 2023-12-31 SC427543 2023-12-31 SC427543 core:CurrentFinancialInstruments 2023-12-31 SC427543 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 SC427543 bus:SmallEntities 2023-01-01 2023-12-31 SC427543 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC427543 bus:FilletedAccounts 2023-01-01 2023-12-31 SC427543 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC427543 bus:RegisteredOffice 2023-01-01 2023-12-31 SC427543 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 SC427543 bus:Director2 2023-01-01 2023-12-31 SC427543 bus:Director3 2023-01-01 2023-12-31 SC427543 bus:Director4 2023-01-01 2023-12-31 SC427543 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC427543 bus:Agent1 2023-01-01 2023-12-31 SC427543 core:ComputerEquipment 2023-01-01 2023-12-31 SC427543 core:FurnitureFittings 2023-01-01 2023-12-31 SC427543 core:MotorVehicles 2023-01-01 2023-12-31 SC427543 countries:Scotland 2023-01-01 2023-12-31 SC427543 2022-12-31 SC427543 2022-01-01 2022-12-31 SC427543 2022-12-31 SC427543 core:CurrentFinancialInstruments 2022-12-31 SC427543 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: SC427543

Up & Running (UK) Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Up & Running (UK) Ltd

Contents

Company Information

1

Directors' Report

2 to 3

Abridged Balance Sheet

4 to 5

Notes to the Unaudited Abridged Financial Statements

6 to 7

 

Up & Running (UK) Ltd

Company Information

Directors

Mr D MacFarlane

Mrs G MacFarlane

Mrs M Holmes

Mr G P A Cunningham

Company secretary

Mr D MacFarlane

Registered office

272 Bath Street
Glasgow
G2 4JR

Bankers

Santander UK Plc
Business Banking
30 St Vincent Street
Glasgow
G2 5NT

Accountants

Hudson Lees Limited
Chartered Certified Accountants
5 Hornbeam Square South
Hornbeam Business Park
Harrogate
North Yorkshire
HG2 8NB

 

Up & Running (UK) Ltd

Directors' Report for the Year Ended 31 December 2023

The directors present their report and the abridged financial statements for the year ended 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr D MacFarlane - Company secretary and director

Mrs G MacFarlane

Mrs M Holmes

Mr G P A Cunningham

Principal activity

The principal activity of the company is Retailing of running shoes, sporting goods and accessories

Note from the Directors

The Company has been involved for some time in a long running legal dispute with one of its main suppliers Deckers UK Ltd, who own the Hoka brand.

Hoka were attempting to impose illegal retail price maintenance upon the Company, but Up & Running refused to comply with such practice. This resulted in Hoka refusing to supply the Company with a very popular product, which caused serious financial damage to the Company over a period of several years.

Up & Running (the Claimant) therefore brought an action
against Hoka (the Defendant) in the Competition Appeal Tribunal in late 2023. The tribunal found that the Defendant had infringed Competiton Law under article 101TFEU with two hard core restrictions.

The full findings of the Competition Appeal Tribunal can be found at http:/wwwcatribunal.org.uk/cases/16155723-up-and-running-uk-limited.

This illegal action by Hoka has had a devastating effect on Up & Running's results since 2021, and the Company has had to be financially supported by the Directors during this challenging time.

The Directors have been restrained from disclosing this matter under the rules of sub judice while the case was being considered by the Court. However, following the judgement published on 31 October 2024, the Court has clearly indicated that damages should be awarded to the Claimant.

The Directors are confident that the Company can now resume its normal operatios and return to profit in the years to follow.

Small companies provision statement

This report has 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.

 

Up & Running (UK) Ltd

Directors' Report for the Year Ended 31 December 2023

Approved and authorised by the Board on 15 November 2024 and signed on its behalf by:
 

.........................................
Mr D MacFarlane
Company secretary and director

 

Up & Running (UK) Ltd

(Registration number: SC427543)
Abridged Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

340,411

427,357

Current assets

 

Stocks

1,296,654

1,876,531

Debtors

783,655

885,494

Cash at bank and in hand

 

215,125

125,845

 

2,295,434

2,887,870

Prepayments and accrued income

 

272,980

337,634

Creditors: Amounts falling due within one year

(2,537,213)

(2,875,108)

Net current assets

 

31,201

350,396

Total assets less current liabilities

 

371,612

777,753

Accruals and deferred income

 

(251,915)

(269,976)

Net assets

 

119,697

507,777

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

119,597

507,677

Shareholders' funds

 

119,697

507,777

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Up & Running (UK) Ltd

(Registration number: SC427543)
Abridged Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 15 November 2024 and signed on its behalf by:
 

.........................................
Mrs G MacFarlane
Director

 

Up & Running (UK) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The address of its registered office is:
272 Bath Street
Glasgow
G2 4JR

The principal place of business is:
16 Station Parade
Harrogate
North Yorkshire
HG1 1UE

These financial statements were authorised for issue by the Board on 15 November 2024.

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 abridged 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 abridged 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.

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

25% of reducing balance

Motor vehicles

25% of reducing balance

Computer equipment

33% of cost

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 176 (2022 - 167).

 

Up & Running (UK) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Total
£

Cost or valuation

At 1 January 2023

1,104,788

Additions

26,760

At 31 December 2023

1,131,548

Depreciation

At 1 January 2023

677,431

Charge for the year

113,706

At 31 December 2023

791,137

Net book value

At 31 December 2023

340,411

At 31 December 2022

427,357

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100