Upstart Gaming Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11807542

Upstart Gaming Ltd

Filleted Unaudited Financial Statements

28 February 2025

Upstart Gaming Ltd

Statement of Financial Position

28 February 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		3,607	4,351

Current assets

Debtors	6	25,314	10,510
Cash at bank and in hand		49,158	46,653
		--------	--------
		74,472	57,163

Creditors: amounts falling due within one year	7	25,174		25,101
		--------		--------
Net current assets			49,298	32,062
			--------	--------
Total assets less current liabilities			52,905	36,413

Provisions

Taxation including deferred tax	473	614
	--------	--------
Net assets	52,432	35,799
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	52,332	35,699
	--------	--------
Shareholder funds	52,432	35,799
	--------	--------

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 income and retained earnings has not been delivered.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Upstart Gaming Ltd

Statement of Financial Position (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 1 September 2025 , and are signed on behalf of the board by:

Mr M K Woollard
Director

Company registration number: 11807542

Upstart Gaming Ltd

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 62 Buckingham Road, London, E11 2EB.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax as appropriate.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:

Fixtures and fittings	-	25% straight line
Equipment	-	33% straight line

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 March 2024	5,835	3,372	9,207
Additions	–	1,458	1,458
Disposals	–	( 1,200)	( 1,200)
	-------	-------	-------
At 28 February 2025	5,835	3,630	9,465
	-------	-------	-------
Depreciation
At 1 March 2024	1,974	2,882	4,856
Charge for the year	1,459	742	2,201
Disposals	–	( 1,199)	( 1,199)
	-------	-------	-------
At 28 February 2025	3,433	2,425	5,858
	-------	-------	-------
Carrying amount
At 28 February 2025	2,402	1,205	3,607
	-------	-------	-------
At 29 February 2024	3,861	490	4,351
	-------	-------	-------

6. Debtors

	2025	2024
	£	£
Trade debtors	18,332	7,900
Other debtors	6,982	2,610
	--------	--------
	25,314	10,510
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	16,146	9,581
Social security and other taxes	6,273	11,267
Other creditors	2,755	4,253
	--------	--------
	25,174	25,101
	--------	--------

8. Director's advances, credits and guarantees

During the year the director received advances totalling £10,972 and repaid £1,635. At the year end he owed the company £6,934 (2024 £2,403 credit). The loan was interest free and repayable on demand. The balance was repaid within nine months of the year end.