Registration number:
Up & Running (UK) Ltd
for the Year Ended 31 December 2023
Up & Running (UK) Ltd
Contents
Company Information |
|
Directors' Report |
|
Abridged Balance Sheet |
|
Notes to the Unaudited Abridged Financial Statements |
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 |
|
Bankers |
|
Accountants |
|
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:
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
......................................... |
Up & Running (UK) Ltd
(Registration number: SC427543)
Abridged Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Prepayments and accrued income |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Accruals and deferred income |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
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 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
......................................... |
Up & Running (UK) Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023
General information |
The address of its registered office is:
The principal place of business is:
16 Station Parade
Harrogate
North Yorkshire
HG1 1UE
These financial statements were authorised for issue by the
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 |
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Up & Running (UK) Ltd
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023
Tangible assets |
Total |
|
Cost or valuation |
|
At 1 January 2023 |
|
Additions |
|
At 31 December 2023 |
|
Depreciation |
|
At 1 January 2023 |
|
Charge for the year |
|
At 31 December 2023 |
|
Net book value |
|
At 31 December 2023 |
|
At 31 December 2022 |
|
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
Ordinary of £1 each |
100 |
100 |
100 |
100 |