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COMPANY REGISTRATION NUMBER: 14249901
No.23 (Uppingham) Limited
Filleted Unaudited Financial Statements
31 March 2024
No.23 (Uppingham) Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Officers and professional advisers
1
Accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
No.23 (Uppingham) Limited
Officers and Professional Advisers
The board of directors
Mr B Cripps
Mr R Uppal
Registered office
Bowden House
36 Northampton Road
Market Harborough
Leicestershire
England
LE16 9HE
Accountants
A Plus Accountants Limited
Accountants
10 Canberra House
Corbygate Business Park
Corby
Northants
NN17 5JG
No.23 (Uppingham) Limited
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of No.23 (Uppingham) Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of No.23 (Uppingham) Limited for the year ended 31 March 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of No.23 (Uppingham) Limited, as a body, in accordance with the terms of our engagement letter dated 30 September 2022. Our work has been undertaken solely to prepare for your approval the financial statements of No.23 (Uppingham) Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than No.23 (Uppingham) Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that No.23 (Uppingham) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of No.23 (Uppingham) Limited. You consider that No.23 (Uppingham) Limited 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 financial statements of No.23 (Uppingham) Limited. 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 financial statements.
A Plus Accountants Limited Accountants
10 Canberra House Corbygate Business Park Corby Northants NN17 5JG
21 March 2025
No.23 (Uppingham) Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
251,632
325,694
Current assets
Stocks
8,000
8,000
Debtors
6
30,454
197,530
Cash at bank and in hand
35,586
841
--------
---------
74,040
206,371
Creditors: amounts falling due within one year
7
485,577
555,248
---------
---------
Net current liabilities
411,537
348,877
---------
---------
Total assets less current liabilities
( 159,905)
( 23,183)
---------
--------
Net liabilities
( 159,905)
( 23,183)
---------
--------
Capital and reserves
Called up share capital
10
10
Profit and loss account
( 159,915)
( 23,193)
---------
--------
Shareholders deficit
( 159,905)
( 23,183)
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
No.23 (Uppingham) Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 21 March 2025 , and are signed on behalf of the board by:
Mr B Cripps
Director
Company registration number: 14249901
No.23 (Uppingham) Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bowden House, 36 Northampton Road, Market Harborough, Leicestershire, LE16 9HE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer; the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property improvments
-
20% straight line
Catering Equipment
-
25% straight line
Fixtures and fittings
-
20% straight line
Office Equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 24 ).
5. Tangible assets
Leasehold property improvements
Catering equipment
Fixtures and fittings
Office equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
230,940
111,366
3,132
345,438
Additions
215
2,480
2,695
Transfers
( 73,790)
21,697
52,092
(1)
---------
---------
--------
-------
---------
At 31 March 2024
157,150
133,278
54,572
3,132
348,132
---------
---------
--------
-------
---------
Depreciation
At 1 April 2023
7,908
11,194
642
19,744
Charge for the year
46,188
29,152
372
1,044
76,756
Transfers
(17,323)
5,063
12,260
---------
---------
--------
-------
---------
At 31 March 2024
36,773
45,409
12,632
1,686
96,500
---------
---------
--------
-------
---------
Carrying amount
At 31 March 2024
120,377
87,869
41,940
1,446
251,632
---------
---------
--------
-------
---------
At 31 March 2023
223,032
100,172
2,490
325,694
---------
---------
--------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
78
1,242
Other debtors
30,376
196,288
--------
---------
30,454
197,530
--------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
41,228
203,835
Corporation tax
200
Social security and other taxes
13,110
11,121
Other creditors
431,039
340,292
---------
---------
485,577
555,248
---------
---------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
30,000
30,000
Later than 1 year and not later than 5 years
80,856
110,856
---------
---------
110,856
140,856
---------
---------
Included within obligations under non-cancellable operating leases is a 5year leasehold property agreement from 6 December 2022 to 05 December 2027. The lease will be reviewed on 1 December 2023 and each year following, on the same date.
9. Related party transactions
No.23 (Uppingham) Limited shares common directorship through Mr R Uppal who is also a director of Bybrook Finance Solutions Ltd, Willoughby (607) Limited, The Sun Inn Great Easton Limited, Willoughby (609) Limited, The Nevill Arms (Medbourne) Limited and Willoughby (610) Limited. During the year Bybrook Finance Solutions advanced No.23 (Uppingham) Limited £0 (2023: £60,484.) The amount outstanding at the period end included within other creditors is £60,484 (2023: £60,484). This amount is interest free and repayable on demand. During the year No.23 (Uppingham) Limited advanced The Sun Inn Great Easton Limited £7,200 (2023: £8,049). The Sun Inn Great Easton Limited repaid £8,201 (2023: £0) in the year. The amount outstanding at the year end included within other debtors is £7,048 (2023: £8,049). This amount is interest free and repayable on demand. During the year No.23 (Uppingham) Limited advanced Willoughby (607) Limited £32,000 (2023: £125,457). Willoughby (607) Limited repaid £144,103 (2023: £0) in the year. The amount outstanding at the period end included within other debtors is £13,354 (2023:£125,457). This amount is interest free and repayable on demand. During the year Willoughby (609) Limited advanced No.23 (Uppingham) Limited £67,742 (2023: £0). The amount outstanding at the period end included within other creditors is £67,742 (2023: £0). This amount is interest free and repayable on demand. During the year The Nevill Arms (Medbourne) Limited advanced No.23 (Uppingham) Limited £12,116 (2023: £2,667). The amount outstanding at the period end included within other creditors is £14,783 (2023: £2,667). This amount is interest free and repayable on demand. During the year No.23 (Uppingham) Limited advanced Willoughby (610) Limited £2,474 (2023: £0). The amount outstanding at the period end included within other debtors is £2,474 (2023:£0). This amount is interest free and repayable on demand.