UPB PRODUCTS LIMITED


Directors	RUTTER, Laurence Philip
	PIPPIN CAPITAL LIMITED


Registered Address	Unit 46 Sapcote Trading Estate
	374 High Road
	London
	NW10 2DJ


Registered Number	04590457 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		850,088		842,103
Investments	4		220		220
			850,308		842,323
Current assets
Stocks	5	1,022,901		1,023,010
Debtors		1,886,874		869,158
Cash at bank and on hand		1,907,075		2,515,986
		4,816,850		4,408,154
Creditors amounts falling due within one year	6	(1,564,576)		(1,133,159)
Net current assets (liabilities)			3,252,274		3,274,995
Total assets less current liabilities			4,102,582		4,117,318
Net assets			4,102,582		4,117,318
Capital and reserves
Called up share capital			100		100
Profit and loss account			4,102,482		4,117,218
Shareholders' funds			4,102,582		4,117,318

The company was entitled to exemption from audit for this reporting period 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 Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 30 September 2025, and are signed on its behalf by:

RUTTER, Laurence Philip
Director
Registered Company No. 04590457

UPB PRODUCTS LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Land and buildings	40
	Plant and machinery	4
	Fixtures and fittings	10
	Vehicles	5
	Office Equipment	2

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	16		20

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 January 24	942,266	654,068	-	-	1,596,334
Disposals	-	(24,706)	-	-	(24,706)
Transfers	-	(77,814)	22,550	55,264	-
At 31 December 24	942,266	551,548	22,550	55,264	1,571,628
Depreciation and impairment
At 01 January 24	130,000	546,417	22,550	55,264	754,231
Charge for year	-	5,131	-	-	5,131
Other adjustments	(37,822)	-	-	-	(37,822)
At 31 December 24	92,178	551,548	22,550	55,264	721,540
Net book value
At 31 December 24	850,088	-	-	-	850,088
At 31 December 23	812,266	107,651	(22,550)	(55,264)	842,103

4.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 January 24	220	220
At 31 December 24	220	220
Net book value
At 31 December 24	220	220
At 31 December 23	220	220

	Notes
	¹Investments in group undertakings and participating interests

5.	Stocks
	Inventories are stated at the lower of cost and net realisable value. Cost includes all direct costs of purchase and, where applicable, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. Cost is normally determined on a first-in, first-out basis. Net realisable value represents the estimated selling price less all estimated costs of completion and costs to sell. When inventories are sold, the carrying amount is recognised as an expense in the period in which the related revenue is recognised. Any write-down to net realisable value, or losses of inventories, are recognised as an expense in the period incurred. Reversals of previous write-downs are recognised as a reduction in the expense in the period the reversal occurs.

Stocks

Inventories are stated at the lower of cost and net realisable value. Cost includes all direct costs of purchase and, where applicable, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. Cost is normally determined on a first-in, first-out basis.

Net realisable value represents the estimated selling price less all estimated costs of completion and costs to sell.

When inventories are sold, the carrying amount is recognised as an expense in the period in which the related revenue is recognised. Any write-down to net realisable value, or losses of inventories, are recognised as an expense in the period incurred. Reversals of previous write-downs are recognised as a reduction in the expense in the period the reversal occurs.

	2024	2023
	£	£
Finished goods	1,022,901	1,023,010
Total	1,022,901	1,023,010

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	972,126	826,592
Bank borrowings and overdrafts	589,400	6,838
Taxation and social security	3,050	295,206
Accrued liabilities and deferred income	-	4,523
Total	1,564,576	1,133,159