Company No: 10507512 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	807		16,998
		807		16,998
Current assets
Debtors
- due within one year	5	1,244,499		1,325,424
- due after more than one year	5	29,038		0
Cash at bank and in hand		5,580		9,183
		1,279,117		1,334,607
Creditors: amounts falling due within one year	6	( 1,117,389)		( 1,219,295)
Net current assets		161,728		115,312
Total assets less current liabilities		162,535		132,310
Creditors: amounts falling due after more than one year	7	( 13,091)		( 24,089)
Net assets		149,444		108,221
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		149,344		108,121
Total shareholders' funds		149,444		108,221

For the financial 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.

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Upsilon Global Ltd (registered number: 10507512) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

P J Bromwich Director

30 September 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Upsilon Global Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Basepoint, Little High Street, Shoreham-By-Sea, BN43 5EG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover represents the amount invoiced for services provided net of Value Added Tax. Turnover derived from contractors is recognised as work is performed. Permanent placement fees are recognised when contractual obligations are fulfilled.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less 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. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	2 years straight line
Plant and machinery	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The company as lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Prior year adjustment

The comparative figures have been restated to correct previously understated debtors and creditors. This has increased debtors due within one year by £7,705 and increased creditors due within one year by the same amount. There is no impact on net assets or profit for the year as previously reported.

		As previously reported		Adjustment		As restated
Year ended 31 December 2023		£		£		£
Other debtors		335,055		7,705		342,760
Other creditors		9,945		7,705		17,650

3. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	6		13

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Total
	£		£		£
Cost
At 01 January 2024	14,701		73,786		88,487
Additions	0		209		209
At 31 December 2024	14,701		73,995		88,696
Accumulated depreciation
At 01 January 2024	13,890		57,599		71,489
Charge for the financial year	811		15,589		16,400
At 31 December 2024	14,701		73,188		87,889
Net book value
At 31 December 2024	0		807		807
At 31 December 2023	811		16,187		16,998

5. Debtors

	2024		2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	725,099		974,741
Corporation tax	8,227		7,923
Other debtors	511,173		342,760
	1,244,499		1,325,424
Debtors: amounts falling due after more than one year
Deferred tax asset	29,038		0

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	94,136		210,312
Trade creditors	11,007		102,900
Amounts owed to related parties	638,918		555,093
Accruals	295,236		251,447
Taxation and social security	24,316		81,893
Other creditors	53,776		17,650
	1,117,389		1,219,295

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	13,091		24,089

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	0		( 6,139)
Credited to the Statement of Income and Retained Earnings	29,038		6,139
At the end of financial year	29,038		0

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Tax losses carry forward	29,038		0

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
2,900 Ordinary A shares of £ 0.01 each	29		29
4,000 Ordinary B shares of £ 0.01 each	40		40
3,100 Ordinary C shares of £ 0.01 each	31		31
	100		100

10. Related party transactions

Transactions with the entity's directors

Included within other debtors are amounts owed by the directors of £25,895 (2023: £24,993). Interest is charged at the official rate.

Other related party transactions

Included within amounts owed to related parties is £638,918 (2023: £555,093), which is owed to companies under common control.