Uplands Mobiles Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03977335 (England and Wales)

UPLANDS MOBILES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

P Hooper

REGISTERED OFFICE:

Villiers House

Charter Court

Swansea Enterprise Park

Swansea

SA7 9FS

REGISTERED NUMBER:

03977335 (England and Wales)

ACCOUNTANTS:

Bevan Buckland LLP

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,911

3,989

1,911

3,989

CURRENT ASSETS

Stocks

11,182

52,626

Debtors

6

1,044,579

1,265,560

Cash at bank and in hand

416,209

938,228

1,471,970

2,256,414

CREDITORS

Amounts falling due within one year

7

538,601

1,047,981

NET CURRENT ASSETS

933,369

1,208,433

TOTAL ASSETS LESS CURRENT LIABILITIES

935,280

1,212,422

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

935,279

1,212,421

SHAREHOLDERS' FUNDS

935,280

1,212,422

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 9 April 2020 and were signed by:

P A Hooper - Director

1.	STATUTORY INFORMATION

Uplands Mobiles 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principle accounting policies adopted in the preparation of the financial statements are set out below

and have remained unchanged from the previous year, and also have been consistently applied within the

same accounts.

Related party exemption

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.

Turnover

Income is recognised to the extent the Company has delivered goods or rendered services under an

agreement, the amount of revenue can be measured reliably and it is probable that the economic benefits

associated with the transaction will flow to the Company. Income is measured at the fair value of the

consideration receivable, exclusive of sales taxes and discounts.

The Company principally obtains income from providing mobile and fixed telecommunication services

including: access charges, voice and video calls, messaging, fixed and mobile broadband and related

services such as providing connection fees and equipment sales. Product and services may be sold

separately or in bundled packages.

Income for access charges, voice and video calls, messaging and fixed and mobile broadband provided to

contract customers is recognised as services are performed, with unbilled income resulting from services

already provided accrued at the end of each period and unearned income from services to be provided in

future periods deferred.

Customer connection income is recognised together with the related equipment income to the extent that

the aggregate equipment and connection income does not exceed the fair value of the equipment

delivered to the customer. Any customer connection income not recognised, together with any related

excess equipment income, is deferred and recognised over the period in which services are expected to

be provided to the customer. The cost of the equipment to the company is deferred and recognised /

released during the life of the contract, with the cost prepaid until utilised.

Income for device sales is recognised when the device is delivered to the end customer and the significant

risks and rewards of ownership have transferred.

Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the

identifiable assets and liabilities. It is amortised to the Profit and loss account over its estimated economic

life.

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.

Fixtures and fittings

-

8 years

Computer equipment

-

Over 5 years

Inventories

Inventories and work in progress are valued at the lower of cost and estimated selling price less costs to

sell. In general, cost is determined on an average basis. In the case of manufactured products, cost

includes all direct expenditure and production overheads based upon a normal level of activity.Provision is

made where necessary for obsolete, slow moving and defective stocks.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income

and Retained Earnings, 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 provided on the liability method to take account of timing differences between the treatment

of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Pension costs and other post-retirement benefits

The company participates in a defined contribution money purchase schemes. The charge against profits

represents the contributions payable to the pension schemes in respect of the accounting period. The

asset of the pension schemes are held separately from those of the company.

Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with

banks, other short-term liquid investments with original maturities of three months or less, and bank

overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Debtors

Trade debtors are recognised at the settlement amount after any trade discount offered.

Other debtors

Included in other debtors is the prepaid asset in respect to the estimate of the cost of phones booked out

of stock to sell under revenue share arrangements.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation resulting from a past

event that will probably result in the transfer of funds to a third party and the amount due to settle the

obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their

settlement amount after allowing for ant trade discounts due.

Employment benefit

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services

are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably

committed to terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2018 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

500,000

AMORTISATION

At 1 January 2019

and 31 December 2019

500,000

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2019

75,858

103,317

179,175

Disposals

(22,978

)

(86,060

)

(109,038

)

At 31 December 2019

52,880

17,257

70,137

DEPRECIATION

At 1 January 2019

75,066

100,120

175,186

Charge for year

356

1,722

2,078

Eliminated on disposal

(22,978

)

(86,060

)

(109,038

)

At 31 December 2019

52,444

15,782

68,226

NET BOOK VALUE

At 31 December 2019

436

1,475

1,911

At 31 December 2018

792

3,197

3,989

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

228,003

295,058

Amounts owed by group undertakings

-

145,392

Other debtors

816,576

825,110

1,044,579

1,265,560

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

179,597

264,300

Taxation and social security

40,428

137,681

Other creditors

318,576

646,000

538,601

1,047,981

8.	ULTIMATE CONTROLLING PARTY

At the date of approval of the financial statements, P A Hooper is considered to be the ultimate controlling

party due to his controlling interest in Uplands Group Limited.

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only

required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Uplands Mobiles Limited for the year ended 31 December 2019 which comprise the

Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Uplands Mobiles Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Uplands Mobiles Limited and state those matters that we have agreed to state to the director of Uplands Mobiles Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Uplands Mobiles Limited and its director for our work or for this report.

It is your duty to ensure that Uplands Mobiles Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Uplands Mobiles Limited. You consider that Uplands Mobiles Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Uplands Mobiles Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bevan Buckland LLP

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

9 April 2020