Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10136241 2023-05-01 2024-04-30 10136241 2024-04-30 10136241 2022-05-01 2023-04-30 10136241 2023-04-30 10136241 c:Director1 2023-05-01 2024-04-30 10136241 d:OfficeEquipment 2023-05-01 2024-04-30 10136241 d:OfficeEquipment 2024-04-30 10136241 d:OfficeEquipment 2023-04-30 10136241 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10136241 d:CurrentFinancialInstruments 2024-04-30 10136241 d:CurrentFinancialInstruments 2023-04-30 10136241 d:Non-currentFinancialInstruments 2024-04-30 10136241 d:Non-currentFinancialInstruments 2023-04-30 10136241 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10136241 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10136241 d:ShareCapital 2024-04-30 10136241 d:ShareCapital 2023-04-30 10136241 d:RetainedEarningsAccumulatedLosses 2024-04-30 10136241 d:RetainedEarningsAccumulatedLosses 2023-04-30 10136241 c:FRS102 2023-05-01 2024-04-30 10136241 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10136241 c:FullAccounts 2023-05-01 2024-04-30 10136241 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10136241 2 2023-05-01 2024-04-30 10136241 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 10136241


UPSTART DIGITAL MEDIA LTD








UNAUDITED

PAGES FOR FILING WITH REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
UPSTART DIGITAL MEDIA LTD
REGISTERED NUMBER: 10136241

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
609
1,282

  
609
1,282

Current assets
  

Debtors
 5 
432,633
398,323

Cash at bank and in hand
 6 
61,155
142,610

  
493,788
540,933

Creditors: amounts falling due within one year
 7 
(63,841)
(86,599)

Net current assets
  
 
 
429,947
 
 
454,334

Total assets less current liabilities
  
430,556
455,616

  

Net assets
  
430,556
455,616


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
430,546
455,606

  
430,556
455,616


Page 1

 
UPSTART DIGITAL MEDIA LTD
REGISTERED NUMBER: 10136241
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 January 2025.




................................................
J Morris
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
UPSTART DIGITAL MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Upstart Digital Media Ltd is a private company limited by share capital, registered in England and Wales
The company's registered number is 10136241. 
The company's registered office is 1 Vincent Square, London, United Kingdom, SW1P 2PN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
UPSTART DIGITAL MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
UPSTART DIGITAL MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
UPSTART DIGITAL MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 May 2023
4,818


Disposals
(510)



At 30 April 2024

4,308



Depreciation


At 1 May 2023
3,536


Charge for the year on owned assets
673


Disposals
(510)



At 30 April 2024

3,699



Net book value



At 30 April 2024
609



At 30 April 2023
1,282

Page 6

 
UPSTART DIGITAL MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
90,192
89,192

90,192
89,192

Due within one year

Trade debtors
3,750
8,000

Other debtors
217,757
202,363

Prepayments and accrued income
120,934
98,768

432,633
398,323



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
61,155
142,610

61,155
142,610



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
40,271
30,669

Corporation tax
5,845
-

Other taxation and social security
17,413
21,590

Other creditors
312
34,340

63,841
86,599


Page 7

 
UPSTART DIGITAL MEDIA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Related party transactions

At the balance sheet date, Upstart Digital Media Ltd had the following positions with companies under common control. There is no provision of uncollected balances and these loans are interest free. 


2024
2023
£
£

The Upstart Foundation CIC
833
900
Upstart Investments Limited
90,192
89,192
Upstart International Limited
48,023
(34,340)
Upstart Properties Limited
160,000
160,000
299,048
215,752


9.


Controlling party

The immediate controlling party by virtue of 100% shareholding is Upstart International Limited. The ultimate controlling party by virtue of being the sole shareholder of Upstart International Limited is Mr J Morris.

 
Page 8