Updraft WP Software Limited 08570611 false 2024-07-01 2025-06-30 2025-06-30 The principal activity of the company is Business and domestic software development Digita Accounts Production Advanced 6.30.9574.0 true false 08570611 2024-07-01 2025-06-30 08570611 2025-06-30 08570611 core:RetainedEarningsAccumulatedLosses 2025-06-30 08570611 core:ShareCapital 2025-06-30 08570611 core:CurrentFinancialInstruments 2025-06-30 08570611 core:CurrentFinancialInstruments core:WithinOneYear 2025-06-30 08570611 core:OtherResidualIntangibleAssets 2025-06-30 08570611 core:OfficeEquipment 2025-06-30 08570611 bus:SmallEntities 2024-07-01 2025-06-30 08570611 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-06-30 08570611 bus:FilletedAccounts 2024-07-01 2025-06-30 08570611 bus:SmallCompaniesRegimeForAccounts 2024-07-01 2025-06-30 08570611 bus:RegisteredOffice 2024-07-01 2025-06-30 08570611 bus:Director1 2024-07-01 2025-06-30 08570611 bus:Director2 2024-07-01 2025-06-30 08570611 bus:Director3 2024-07-01 2025-06-30 08570611 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 08570611 core:IntangibleAssetsOtherThanGoodwill 2024-07-01 2025-06-30 08570611 core:OtherResidualIntangibleAssets 2024-07-01 2025-06-30 08570611 core:ComputerEquipment 2024-07-01 2025-06-30 08570611 core:OfficeEquipment 2024-07-01 2025-06-30 08570611 countries:EnglandWales 2024-07-01 2025-06-30 08570611 2024-06-30 08570611 core:OtherResidualIntangibleAssets 2024-06-30 08570611 core:CostValuation 2024-06-30 08570611 core:OfficeEquipment 2024-06-30 08570611 2023-07-01 2024-06-30 08570611 2024-06-30 08570611 core:RetainedEarningsAccumulatedLosses 2024-06-30 08570611 core:ShareCapital 2024-06-30 08570611 core:CurrentFinancialInstruments 2024-06-30 08570611 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 08570611 core:OtherResidualIntangibleAssets 2024-06-30 08570611 core:OfficeEquipment 2024-06-30 iso4217:GBP xbrli:pure

Registration number: 08570611

Updraft WP Software Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 June 2025

Updraft WP Software Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 10

Updraft WP Software Limited

Company Information

Directors | Mr D C Anderson Mr C C Anderson Mr J C Miles

Registered office | Tramshed Tech Griffin Street Newport Wales NP20 1FX

Updraft WP Software Limited

(Registration number: 08570611)
Balance Sheet as at 30 June 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Intangible assets | 5 | 368,376 | 514,893
Tangible assets | 6 | 1,925 | 2,493
Investments | 7 | 2,327,541 | 2,327,541
|  | 2,697,842 | 2,844,927
Current assets |  |  |
Debtors | 8 | 210,275 | 32,998
Cash at bank and in hand |  | 697,313 | 1,622,454
|  | 907,588 | 1,655,452
Creditors: Amounts falling due within one year | 9 | (3,158,353) | (4,194,503)
Net current liabilities |  | (2,250,765) | (2,539,051)
Total assets less current liabilities |  | 447,077 | 305,876
Provisions for liabilities |  | (27,884) | (38,743)
Net assets |  | 419,193 | 267,133
Capital and reserves |  |  |
Called up share capital |  | 201 | 201
Retained earnings |  | 418,992 | 266,932
Shareholders' funds |  | 419,193 | 267,133

Updraft WP Software Limited

(Registration number: 08570611)
Balance Sheet as at 30 June 2025

For the financial year ending 30 June 2025 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 February 2026 and signed on its behalf by:

......................................... Mr J C Miles Director

Updraft WP Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tramshed Tech
Griffin Street
Newport
NP20 1FX
Wales

These financial statements were authorised for issue by the Board on 24 February 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Updraft WP Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Computer Equipment | Straight line over 3 years.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected futures economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arise from contractual or other legal rights; and the intangible asset is separable from the entity.

Updraft WP Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Intangible Assets | Straight line over 5 years.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period for which the dividends are declared.

Updraft WP Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2024 - 15).

| 4 | Taxation

| Note | 2025 £ | 2024 £
UK corporation tax |  | (87,358) | (305,468)
Prior year R&D claim |  | 124,792 | 137,760
Deferred taxation |  | 10,859 | 10,902
|  | 48,293 | (156,806)

Updraft WP Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

5 | Intangible assets

| Other intangible assets £ | Total £
Cost or valuation
At 1 July 2024 | 705,862 | 705,862
At 30 June 2025 | 705,862 | 705,862
Amortisation
At 1 July 2024 | 190,969 | 190,969
Amortisation charge | 146,517 | 146,517
At 30 June 2025 | 337,486 | 337,486
Carrying amount
At 30 June 2025 | 368,376 | 368,376
At 30 June 2024 | 514,893 | 514,893

6 | Tangible assets

| Office equipment £ | Total £
Cost or valuation
At 1 July 2024 | 4,426 | 4,426
Additions | 1,101 | 1,101
Disposals | (417) | (417)
At 30 June 2025 | 5,110 | 5,110
Depreciation
At 1 July 2024 | 1,933 | 1,933
Charge for the year | 1,461 | 1,461
Eliminated on disposal | (209) | (209)
At 30 June 2025 | 3,185 | 3,185
Carrying amount
At 30 June 2025 | 1,925 | 1,925
At 30 June 2024 | 2,493 | 2,493

Updraft WP Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

7 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 2,327,541 | 2,327,541

Subsidiaries | £
Cost or valuation
At 1 July 2024 | 2,327,541
Provision
Carrying amount
At 30 June 2025 | 2,327,541
At 30 June 2024 | 2,327,541

Updraft WP Software Limited owns 100% of the share capital of WP Overnight BV.

8 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 91,326 | 19,664
Other debtors | 118,949 | 13,334
| 210,275 | 32,998

Updraft WP Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Trade creditors |  | 102,324 | 71,438
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 11 | 3,014,181 | 3,903,310
Taxation and social security |  | 20,712 | 184,307
Accruals and deferred income |  | 4,000 | 2,500
Other creditors |  | 17,136 | 32,948
|  | 3,158,353 | 4,194,503

10 | Dividends

| Note | 2024 £ | 2024 £
Preference dividends |  | 203,678 | 246,166
Interim ordinary dividends |  | 434,290 | 731,555
|  | 637,968 | 977,721

11 | Related party transactions

Included in creditors due within one year is a loan to the value of £2,012,731 due to a company under common control (2024 : £2,552,663).
Included in creditors due within one year is a loan to the value of £1,001,450 due to a company with a participating interest (2024 : £1,350,647).