ACCOUNTS - Final Accounts preparation

UPSIDE DOWN ENTERTAINMENT LTD - Company Information

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Registered number: 12024659

UPSIDE DOWN INVESTMENTS LTD

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2020

UPSIDE DOWN INVESTMENTS LTD

REGISTERED NUMBER: 12024659

BALANCE SHEET

AS AT 31 MARCH 2020

		2020
Note		£

Fixed assets
Tangible assets	4		228,692
Investments	5		10
			228,702
Current assets
Debtors: amounts falling due within one year	6	234,990
		234,990
Creditors: amounts falling due within one year	7	(469,762)
Net current (liabilities)/assets			(234,772)
Total assets less current liabilities			(6,070)

Net (liabilities)/assets			(6,070)

Capital and reserves
Called up share capital	8	1
Profit and loss account		(6,071)
		(6,070)

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UPSIDE DOWN INVESTMENTS LTD

REGISTERED NUMBER: 12024659

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2020

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

J A Thirlwall

Director

Date: 23 December 2020

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

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UPSIDE DOWN INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

1.	General information

Upside Down Investments Ltd is a private company limited by shares. The company is registered in England and Wales and it's registered office address is Aston House, Cornwall Avenue, London, United Kingdom, N3 1LF. The registered company number is 12024659.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

Whilst the company is in a net liabilities position, it retains the support of its shareholders and as such the director considers it appropriate to prepare the accounts on a going concern basis.

2.3

Tangible Fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the period was 1.

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UPSIDE DOWN INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

4.	Tangible fixed assets

		Freehold property
		£
	Cost or valuation
	Additions	228,692
	At 31 March 2020	228,692

	Net book value
	At 31 March 2020	228,692

	The net book value of land and buildings may be further analysed as follows:
					2020
					£

	Freehold	228,692
		228,692

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	Additions	10
	At 31 March 2020	10

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UPSIDE DOWN INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

Debtors

					2020
					£


	Amounts owed by group undertakings	234,990
		234,990

7.	Creditors: Amounts falling due within one year
		2020
		£

	Other creditors	469,762
		469,762

8.	Share capital
		2020
		£

		Allotted, called up and fully paid

		1 Ordinary share of £1.00	1

During the period, the company issued 1 ordinary share of £1 at par to form the initial capital base of the company.

9.	Related party transactions
	Included in other creditors is an amount of £469,762 due to the director. The loan is interest free, unsecured and payable on demand.

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