Upper Cut Productions Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 07148868

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		2,200		2,600
Tangible Assets	5		160,924		196,868

			163,124		199,468
CURRENT ASSETS
Debtors	6	416,424		420,488
Cash at bank and in hand		40,947		199,092

		457,371		619,580
Creditors: Amounts Falling Due Within One Year	7	(152,880 )		(288,214 )

NET CURRENT ASSETS (LIABILITIES)			304,491		331,366

TOTAL ASSETS LESS CURRENT LIABILITIES			467,615		530,834

Creditors: Amounts Falling Due After More Than One Year	8		(14,356 )		(24,511 )

NET ASSETS			453,259		506,323

CAPITAL AND RESERVES
Called up share capital	10		1		1
Profit and Loss Account			453,258		506,322

SHAREHOLDERS' FUNDS			453,259		506,323

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Upper Cut Productions Limited

Balance Sheet (continued)

As At 31 December 2024

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 member has 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr C M Wilkinson

Director

30 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Upper Cut Productions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07148868 . The registered office is 550 Valley Rd, Basford, Nottingham, NG5 1JJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised over its estimated economic life of 20 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Reducing Balance
Motor Vehicles	20% Reducing Balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

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Upper Cut Productions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2023: 3)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	8,000

As at 31 December 2024	8,000

Amortisation
As at 1 January 2024	5,400
Provided during the period	400

As at 31 December 2024	5,800

Net Book Value
As at 31 December 2024	2,200

As at 1 January 2024	2,600

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 January 2024	560,520	61,196	621,716

As at 31 December 2024	560,520	61,196	621,716

Depreciation
As at 1 January 2024	392,336	32,512	424,848
Provided during the period	30,207	5,737	35,944

As at 31 December 2024	422,543	38,249	460,792

Net Book Value
As at 31 December 2024	137,977	22,947	160,924

As at 1 January 2024	168,184	28,684	196,868

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	-	4,064
Amounts owed by group undertakings	416,424	416,424

	416,424	420,488

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Upper Cut Productions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	10,155	10,155
Bank loans and overdrafts	-	10,249
Corporation tax	-	28,488
Other taxes and social security	3,616	2,014
VAT	12,397	16,595
NatWest credit card	371	5,350
Amex credit card	4,472	15,913
Accruals and deferred income	94,392	28,216
Director's loan account	27,477	171,234

	152,880	288,214

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	3,935	14,090
Bank loans	10,421	10,421

	14,356	24,511

9. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	10,155	10,155
Later than one year and not later than five years	3,935	14,090

	14,090	24,245

	14,090	24,245

10. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	1	1

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