Company Registration No. 7420678 (England and Wales)
Upton Electrics Limited
Unaudited accounts
for the year ended 31 December 2024
Upton Electrics Limited
Unaudited accounts
Contents
Upton Electrics Limited
Company Information
for the year ended 31 December 2024
Company Number
7420678 (England and Wales)
Registered Office
5 Lulworth Crescent
Hamworthy
Poole
Dorset
BH15 4DL
Accountants
JSVM Limited
Certified Public Accountants
23a Dawkins Road
Poole
Dorset
BH15 4JY
Upton Electrics Limited
Statement of financial position
as at 31 December 2024
Tangible assets
35,839
41,681
Cash at bank and in hand
4,375
4,654
Creditors: amounts falling due within one year
(75,442)
(56,504)
Net current liabilities
(26,414)
(17,131)
Total assets less current liabilities
9,425
24,550
Creditors: amounts falling due after more than one year
(7,660)
(16,940)
Provisions for liabilities
Called up share capital
2
2
Profit and loss account
1,413
4,808
Shareholders' funds
1,415
4,810
For the year ending 31 December 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 28 May 2025 and were signed on its behalf by
Richard Leen
Director
Company Registration No. 7420678
Upton Electrics Limited
Notes to the Accounts
for the year ended 31 December 2024
Upton Electrics Limited is a private company, limited by shares, registered in England and Wales, registration number 7420678. The registered office is 5 Lulworth Crescent, Hamworthy, Poole, Dorset, BH15 4DL.
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.
The accounts are presented in £ sterling.
Turnover represents the value of goods and services provided to customers, net of Value Added Tax.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
No depreciation is provided below residual holding value of £7,500
Motor vehicles
20% per annum reducing balance
Computer equipment
33% per annum straight line
Deferred tax is provided on timing differences to the extent they are considered likely to result in an obligation to pay more 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.
Upton Electrics Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
8,681
94,266
11,271
114,218
At 31 December 2024
9,181
93,776
11,901
114,858
At 1 January 2024
1,681
60,605
10,251
72,537
Charge for the year
-
6,105
377
6,482
At 31 December 2024
1,681
66,710
10,628
79,019
At 31 December 2024
7,500
27,066
1,273
35,839
At 31 December 2023
7,000
33,661
1,020
41,681
Amounts falling due within one year
Accrued income and prepayments
3,955
4,428
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,840
10,560
Trade creditors
40,777
31,385
Taxes and social security
3,972
208
Loans from directors
19,208
12,817
The director's loan account is interest free and repayable on demand.
7
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Upton Electrics Limited
Notes to the Accounts
for the year ended 31 December 2024
9
Average number of employees
During the year the average number of employees was 4 (2023: 4).