Upcast - Accounts to registrar (filleted)

REGISTERED NUMBER: 03680082 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Upcast

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A S McDonald

Mrs P A McDonald

SECRETARY:

A S McDonald

REGISTERED OFFICE:

Pine Tree Cottage

Wilmslow Road

Mottram St Andrew

Macclesfield

Cheshire

SK10 4QT

REGISTERED NUMBER:

03680082 (England and Wales)

ACCOUNTANTS:

Guthrie Accountancy Services Ltd

Unit 1

11 Eagle Parade

Buxton

Derbyshire

SK17 6EQ

CURRENT ASSETS

Debtors

4

1,902,176

619,726

Cash at bank

620,524

1,903,776

2,522,700

2,523,502

CREDITORS

Amounts falling due within one year

5

1,002

1,914

NET CURRENT ASSETS

2,521,698

2,521,588

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,521,698

2,521,588

CAPITAL AND RESERVES

Called up share capital

2

Share premium

2,469,464

Retained earnings

52,232

52,122

SHAREHOLDERS' FUNDS

2,521,698

2,521,588

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2021 and were signed on its behalf by:

A S McDonald - Director

1.	STATUTORY INFORMATION

Upcast is a private company , 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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

Other debtors

1,902,176

619,726

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

Trade creditors

(1

)

-

Taxation and social security

25

936

Other creditors

978

1,002

1,914

6.	RELATED PARTY DISCLOSURES

As at 31 March 2021 the company was owed £1,586,725 (2020 £314,725) by Accessory World Limited, a company controlled by A S McDonald a director of this company. The loan is interest free and repayable upon demand.

As at 31 March 2021 the company was owed £102,500 (2020 £92,500) by Wishbone & Stone Limited, a company in which A S McDonald is a shareholder and director. The loan is interest free and repayable upon demand.

As at 31 March 2021 the company was owed £62,800 (2020 £62,500) by Produce Partners Limited, a company in which A S McDonald is a shareholder and director. The loan is interest free and repayable upon demand.

7.	ULTIMATE CONTROLLING PARTY

The company is under the control of the Director, Mr A S McDonald who holds 100% of the Share Capital.

Upcast - Accounts to registrar (filleted) - small 18.2

Upcast - Accounts to registrar (filleted) - small 18.2