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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
Page
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Upton Electrics Limited Company Information for the year ended 31 December 2024
Director
Richard Leen
Secretary
Lisa Leen
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
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Upton Electrics Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
35,839 
41,681 
Current assets
Inventories
21,525 
17,275 
Debtors
23,128 
17,444 
Cash at bank and in hand
4,375 
4,654 
49,028 
39,373 
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
Deferred tax
(350)
(2,800)
Net assets
1,415 
4,810 
Capital and reserves
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
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Upton Electrics Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
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.
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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value of goods and services provided to customers, net of Value Added Tax.
Stocks
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 taxation
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.
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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 
Additions
500 
- 
630 
1,130 
Disposals
- 
(490)
- 
(490)
At 31 December 2024
9,181 
93,776 
11,901 
114,858 
Depreciation
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 
Net book value
At 31 December 2024
7,500 
27,066 
1,273 
35,839 
At 31 December 2023
7,000 
33,661 
1,020 
41,681 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
13,789 
7,282 
Trade debtors
5,384 
2,244 
Accrued income and prepayments
3,955 
4,428 
Other debtors
- 
3,490 
23,128 
17,444 
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 
Accruals
1,645 
1,534 
75,442 
56,504 
The director's loan account is interest free and repayable on demand.
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
7,660 
16,940 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
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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).
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