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Company Registration No. 12019603 (England and Wales)
UPGRADE INTERIORS LTD Unaudited accounts for the year ended 31 May 2024
UPGRADE INTERIORS LTD Unaudited accounts Contents
Page
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UPGRADE INTERIORS LTD Company Information for the year ended 31 May 2024
Director
Mr. Nicolae Razvan Butanescu
Company Number
12019603 (England and Wales)
Registered Office
131 Windmill Drive Croxley Green Rickmansworth WD3 3FB United Kingdom
Accountants
Daniel Consultancy Morritt House 54-60 Station Approach South Ruislip Ruislip HA4 6SA
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UPGRADE INTERIORS LTD Accountants' report
Accountants' report to the director of UPGRADE INTERIORS LTD on the preparation of the unaudited statutory accounts for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of UPGRADE INTERIORS LTD for the year ended 31 May 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of UPGRADE INTERIORS LTD, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of UPGRADE INTERIORS LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than UPGRADE INTERIORS LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that UPGRADE INTERIORS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of UPGRADE INTERIORS LTD. You consider that UPGRADE INTERIORS LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of UPGRADE INTERIORS LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Daniel Consultancy Morritt House 54-60 Station Approach South Ruislip Ruislip HA4 6SA 13 February 2025
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UPGRADE INTERIORS LTD Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
642 
1,583 
Current assets
Debtors
24,103 
27,544 
Cash at bank and in hand
2 
81 
24,105 
27,625 
Creditors: amounts falling due within one year
(1,133)
(4,746)
Net current assets
22,972 
22,879 
Total assets less current liabilities
23,614 
24,462 
Creditors: amounts falling due after more than one year
(19,826)
(22,646)
Net assets
3,788 
1,816 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
3,787 
1,815 
Shareholders' funds
3,788 
1,816 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 February 2025 and were signed on its behalf by
Mr. Nicolae Razvan Butanescu Director Company Registration No. 12019603
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UPGRADE INTERIORS LTD Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
UPGRADE INTERIORS LTD is a private company, limited by shares, registered in England and Wales, registration number 12019603. The registered office is 131 Windmill Drive, Croxley Green, Rickmansworth, WD3 3FB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% on straight line basis
Fixtures & fittings
25% on straight line basis
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
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UPGRADE INTERIORS LTD Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
3,500 
2,091 
5,591 
At 31 May 2024
3,500 
2,091 
5,591 
Depreciation
At 1 June 2023
2,158 
1,850 
4,008 
Charge for the year
700 
241 
941 
At 31 May 2024
2,858 
2,091 
4,949 
Net book value
At 31 May 2024
642 
- 
642 
At 31 May 2023
1,342 
241 
1,583 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
2,544 
Accrued income and prepayments
6,820 
25,000 
Other debtors
17,283 
- 
24,103 
27,544 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
354 
Taxes and social security
1,119 
486 
Loans from directors
- 
3,892 
Accruals
14 
14 
1,133 
4,746 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
19,826 
22,646 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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