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
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
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
UPGRADE INTERIORS LTD
Statement of financial position
as at 31 May 2024
Cash at bank and in hand
2
81
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)
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
UPGRADE INTERIORS LTD
Notes to the Accounts
for the year ended 31 May 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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.
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.
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
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
At 31 May 2023
1,342
241
1,583
Amounts falling due within one year
Accrued income and prepayments
6,820
25,000
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,119
486
Loans from directors
-
3,892
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).