REGISTERED NUMBER: 09010459 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

UPCOUNTRY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N P Bending

H Shafi

S L Kidger

W P Kidger

REGISTERED OFFICE:

80 East Street

Brighton

East Sussex

BN1 1NF

REGISTERED NUMBER:

09010459 (England and Wales)

AUDITORS:

Watson Associates (Audit Services) Ltd

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Intangible assets

4

104,557

123,283

Tangible assets

5

1,929,293

2,030,770

2,033,850

2,154,053

CURRENT ASSETS

Stocks

697,907

759,067

Debtors

6

184,757

182,764

Cash at bank

10,677

30,253

893,341

972,084

CREDITORS

Amounts falling due within one year

7

(3,893,304

)

(3,714,412

)

NET CURRENT LIABILITIES

(2,999,963

)

(2,742,328

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(966,113

)

(588,275

)

CREDITORS

Amounts falling due after more than one year

8

(12,398

)

(23,400

)

NET LIABILITIES

(978,511

)

(611,675

)

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

9

9

Retained earnings

(978,620

)

(611,784

)

SHAREHOLDERS' FUNDS

(978,511

)

(611,675

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2025 and were signed on its behalf by:

S L Kidger - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably; and when it is probable that future economic benefits will flow to the entity.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

2% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

10% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The financial statements have been prepared on a going concern basis as the directors and the company's parent company Friday Media Group Limited have indicated their willingness to continue to support the company for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2024 - 57 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

187,264

AMORTISATION

At 1 February 2024

63,981

Charge for year

18,726

At 31 January 2025

82,707

NET BOOK VALUE

At 31 January 2025

104,557

At 31 January 2024

123,283

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 February 2024

1,294,850

766,584

154,597

Additions

-

20,266

4,642

At 31 January 2025

1,294,850

786,850

159,239

DEPRECIATION

At 1 February 2024

-

150,426

105,090

Charge for year

-

66,827

29,111

At 31 January 2025

-

217,253

134,201

NET BOOK VALUE

At 31 January 2025

1,294,850

569,597

25,038

At 31 January 2024

1,294,850

616,158

49,507

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2024

137,962

65,330

17,845

2,437,168

Additions

8,529

-

3,400

36,837

At 31 January 2025

146,491

65,330

21,245

2,474,005

DEPRECIATION

At 1 February 2024

102,352

36,612

11,918

406,398

Charge for year

21,678

16,333

4,365

138,314

At 31 January 2025

124,030

52,945

16,283

544,712

NET BOOK VALUE

At 31 January 2025

22,461

12,385

4,962

1,929,293

At 31 January 2024

35,610

28,718

5,927

2,030,770

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 February 2024

and 31 January 2025

65,330

DEPRECIATION

At 1 February 2024

36,612

Charge for year

16,333

At 31 January 2025

52,945

NET BOOK VALUE

At 31 January 2025

12,385

At 31 January 2024

28,718

6.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

12,650

12,160

Other debtors

164,474

165,430

177,124

177,590

Amounts falling due after more than one year:

Other debtors

7,633

5,174

Aggregate amounts

184,757

182,764

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

12,938

11,858

Trade creditors

198,966

197,778

Amounts owed to group undertakings

3,628,244

3,445,125

Taxation and social security

39,591

44,567

Other creditors

13,565

15,084

3,893,304

3,714,412

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

12,398

23,400

9.	DEFERRED TAX

£

Balance at 1 February 2024

(125,789

)

Credit to Income Statement during year

(10,145

)

Balance at 31 January 2025

(135,934

)

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen James Moore (Senior Statutory Auditor)

for and on behalf of Watson Associates (Audit Services) Ltd

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	ULTIMATE CONTROLLING PARTY

There is no single party that exercises ultimate control over this company.