| Registered Number:13367397 |
For the year ended 31 January 2025
England and Wales
Unaudited Financial Statements
For the year ended 31 January 2025
Uprate Digital Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Uprate Digital Ltd
Statement of Financial Position
2024
2025
304,787
340,296
2
| Property, plant and equipment |
10,402
18,009
3
315,189
358,305
| Trade and other receivables |
7,061
4,810
4
20,813
| Cash and cash equivalents |
7,520
12,330
27,874
| Trade and other payables: amounts falling due within one |
| year |
(320,772)
(521,122)
5
(292,898)
(508,792)
Net current liabilities
| Total assets less current liabilities |
(193,603)
65,407
(193,603)
Net assets/liabilities
65,407
114
114
479,865
479,865
(673,582)
(414,572)
(193,603)
65,407
Shareholders' funds
| For the year ended 31 January 2025 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 of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006 |
| The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of |
| each financial year and of its profit or loss for each financial year in accordance with the requirements of Section |
| 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial |
| statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
| These financial statements were approved and authorised for issue by the Board on 21 May 2025 and were signed by: |
| The notes form part of these financial statements |
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For the year ended 31 January 2025
Uprate Digital Ltd
Notes to the Financial Statements
Statutory Information
| Uprate Digital Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number |
| 13367397. |
Green St Green Road
Dartford
Kent
DA2 8DP
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention. |
| The principal accounting policies adopted are as detailed below. |
Revenue recognition
| Turnover includes the consideration receivable for finders fees charged to contractors that use the company's platform to hire registered subcontractors for jobs within the construction industry, net of value added tax. In the prior year, turnover also included the consideration receivable for promotional services supplied to contractors to advertise on the company's platform, net of value added tax. |
Intangible assets
| Intangible assets include capitalised development expenditure incurred for the development of an online platform, for use within construction industry recruitment. Development expenditure is only capitalised from the point at which all recognition criteria has been met. The online platform is an internally generated intangible asset and only costs that are directly attributed to the development of the platform have been capitalised. Costs include services used to generate the platform and employee costs. The intangible asset is being amortised over its useful economic life of 10 years. Amortisation commenced from the point at which the online platform was made available for its original intended use, which was deemed to be in September 2023. Expenditure incurred during the research phase was written off to the profit and loss account as incurred. |
Property, plant and equipment
| Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Computer Equipment
Motor Vehicles
Office equipment
Foreign currencies
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate at the date of transaction. Exchange rate differences are taken into account in arriving at the operating result. |
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For the year ended 31 January 2025
Uprate Digital Ltd
Notes to the Financial Statements Continued
Pension costs and other post-retirement benefits
| The company operates a defined contribution pension scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
Going concern
| As at 31 January 2025, the company had net current liabilities of £508,792 (2024: £292,898) and net liabilites of |
| £193,603 (2024: net assets of £65,407). The director has reviewed the working capital available at 31 January 2025 |
| and together with the continued support of the company's investors and a company in common control, he is |
| satisfied that the company will continue operating for at least the next 12 months from the signing of these accounts |
| and pay its debts as they fall due. The director has therefore concluded that the accounts should be prepared on a |
| going concern basis. |
| 2. Intangible fixed assets |
355,092
355,092
14,796
35,509
Charge for year
50,305
304,787
| 3. Property, plant and equipment |
25,651
12,392
1,964
11,295
385
254
131
-
(1,797)
-
-
(1,797)
11,295
2,095
10,849
24,239
| Provision for depreciation and impairment |
7,642
4,848
441
2,353
Charge for year
7,415
4,089
502
2,824
(1,220)
(1,220)
-
-
13,837
7,717
943
5,177
6,118
1,152
3,132
10,402
8,942
1,523
7,544
18,009
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For the year ended 31 January 2025
Uprate Digital Ltd
Notes to the Financial Statements Continued
| 4. Trade and other receivables |
2024
2025
4,810
7,061
| 5. Trade and other payables: amounts falling due within one year |
2024
2025
456
17,324
| Taxation and social security |
9,325
9,325
511,341
294,123
521,122
320,772
| 6. Related party transactions |
| During the year, a company under common control of the director, loaned £217,500 to the company. The loan is |
| repayable on demand and has been provided on an interest free basis.The total loan outstanding at 31 January 2025 |
| was £509,079 (2023: £291,579) and is included in Other Creditors in note 6. |
| 7. Average number of persons employed |
During the year the average number of employees, including directors, was 5 (2024 : 5)
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