Accounts Submission

Company Accounts and Tax Online 08254043 Board of Directors 1.11.19 31.10.20 31.10.20 false iso4217:GBP xbrli:pure 08254043 2018-11-01 2019-10-31 08254043 2020-10-31 08254043 2019-11-01 2020-10-31 08254043 2019-10-31 08254043 countries:EnglandWales 2019-11-01 2020-10-31 08254043 curr:PoundSterling 2019-11-01 2020-10-31 08254043 uk-bus:PrivateLimitedCompanyLtd 2019-11-01 2020-10-31 08254043 uk-bus:FRS102 2019-11-01 2020-10-31 08254043 uk-bus:AuditExempt-NoAccountantsReport 2019-11-01 2020-10-31 08254043 uk-bus:FullAccounts 2019-11-01 2020-10-31 08254043 uk-bus:RegisteredOffice 2019-11-01 2020-10-31 08254043 uk-bus:Director1 2019-11-01 2020-10-31 08254043 uk-bus:Director1 2019-11-01 08254043 uk-bus:Director1 2020-10-31 08254043 core:AfterOneYear 2020-10-31 08254043 core:AfterOneYear 2019-10-31 08254043 core:WithinOneYear 2020-10-31 08254043 core:WithinOneYear 2019-10-31 08254043 core:WithinOneYear 2019-11-01 2020-10-31 08254043 core:AfterOneYear 2020-10-31 08254043 core:AfterOneYear 2019-10-31 08254043 core:AfterOneYear 2019-11-01 2020-10-31 08254043 core:ShareCapital 2020-10-31 08254043 core:ShareCapital 2019-10-31 08254043 core:RevaluationReserve 2020-10-31 08254043 core:RevaluationReserve 2019-10-31 08254043 core:RetainedEarningsAccumulatedLosses 2020-10-31 08254043 core:RetainedEarningsAccumulatedLosses 2019-10-31 08254043 core:Associate1 2019-11-01 2020-10-31 08254043 core:Associate1 2019-10-31 08254043 core:Associate1 2020-10-31 08254043 core:Associate1 2019-11-01 2020-10-31 08254043 core:Associate2 2019-11-01 2020-10-31 08254043 core:Associate2 2019-10-31 08254043 core:Associate2 2020-10-31 08254043 core:Associate2 2019-11-01 2020-10-31 08254043 core:Associate3 2019-11-01 2020-10-31 08254043 core:Associate3 2019-10-31 08254043 core:Associate3 2020-10-31 08254043 core:Associate3 2019-11-01 2020-10-31 08254043 1 2019-11-01 2020-10-31 08254043 core:LandBuildings 2019-11-01 2020-10-31 08254043 core:LandBuildings 2020-10-31 08254043 core:LandBuildings 2018-11-01 2019-10-31 08254043 core:LandBuildings 2019-10-31 08254043 core:PlantMachinery 2019-11-01 2020-10-31 08254043 core:PlantMachinery 2020-10-31 08254043 core:PlantMachinery 2018-11-01 2019-10-31 08254043 core:PlantMachinery 2019-10-31 08254043 core:FurnitureFittingsToolsEquipment 2019-11-01 2020-10-31 08254043 core:FurnitureFittingsToolsEquipment 2020-10-31 08254043 core:FurnitureFittingsToolsEquipment 2018-11-01 2019-10-31 08254043 core:FurnitureFittingsToolsEquipment 2019-10-31 08254043 core:OfficeEquipment 2019-11-01 2020-10-31 08254043 core:OfficeEquipment 2020-10-31 08254043 core:OfficeEquipment 2018-11-01 2019-10-31 08254043 core:OfficeEquipment 2019-10-31 08254043 core:Vehicles 2019-11-01 2020-10-31 08254043 core:Vehicles 2020-10-31 08254043 core:Vehicles 2018-11-01 2019-10-31 08254043 core:Vehicles 2019-10-31 08254043 core:NetGoodwill 2019-11-01 2020-10-31 08254043 core:NetGoodwill 2020-10-31 08254043 core:NetGoodwill 2018-11-01 2019-10-31 08254043 core:NetGoodwill 2019-10-31 08254043 core:IntangibleAssetsOtherThanGoodwill 2019-11-01 2020-10-31 08254043 core:IntangibleAssetsOtherThanGoodwill 2020-10-31 08254043 core:IntangibleAssetsOtherThanGoodwill 2018-11-01 2019-10-31 08254043 core:IntangibleAssetsOtherThanGoodwill 2019-10-31

Company Registration Number:
08254043 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2020

Period of accounts

Start date: 01 November 2019

End date: 31 October 2020

Contents of the Financial Statements

for the Period Ended 31 October 2020


Company Information - 3
Report of the Directors - 4
Balance sheet - 5
Additional notes - 7
Balance sheet notes - 10

Directors' Report Period Ended 31 October 2020

The directors present their report with the financial statements of the company for the period ended 31 October 2020

Principal Activities

The Company designs, develops, licences and sells computer-related software and services

Directors

The directors shown below have held office during the whole of the period from 01 November 2019 to 31 October 2020
Nicolas W Smale

This report was approved by the board of directors on 26 July 2021
And Signed On Behalf Of The Board By:

Name: Nicolas W Smale
Status: Director

Balance sheet

As at 31 October 2020

	Notes	2020 £	2019 £
Fixed assets
Tangible assets:	4	2	42
Total fixed assets:		2	42
Current assets
Debtors:	5	441,440	190,369
Total current assets:		441,440	190,369
Creditors: amounts falling due within one year:	6	( 560,432 )	( 184,872 )
Net current assets (liabilities):		( 118,992 )	5,497
Total assets less current liabilities:		( 118,990 )	5,539
Total net assets (liabilities):		( 118,990 )	5,539

The notes form part of these financial statements

Balance sheet continued

As at 31 October 2020

	2020 £	2019 £
Capital and reserves
Called up share capital:	100	100
Profit and loss account:	( 119,090 )	5,439
Shareholders funds:	( 118,990 )	5,539

For the year ending 31 October 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 26 July 2021
And Signed On Behalf Of The Board By:

Name: Nicolas W Smale
Status: Director

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 October 2020

1. Accounting policies

Basis of measurement and preparation

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover derives from the licencing and sale of software services and is recognised by reference to the stage of completion of the transaction at the balance sheet date.

Tangible fixed assets depreciation policy

All fixed assets are recorded at cost and depreciation is provided to write off the assets over their useful economic life using depreciation rates between 20% and 25% per ennum.

Notes to the Financial Statements

for the Period Ended 31 October 2020

2. Employees

	2020	2019
Average number of employees during the period	1	1

Notes to the Financial Statements

for the Period Ended 31 October 2020

3. Off balance sheet disclosure

No

Notes to the Financial Statements

for the Period Ended 31 October 2020

4. Tangible assets

	Fixtures & fittings	Office equipment	Total
Cost	£	£	£
At 01 November 2019	207	11,681	11,888
Additions	-	-	-
Disposals	-	-	-
Revaluations	-	-	-
Transfers	-	-	-
At 31 October 2020	207	11,681	11,888
Depreciation
At 01 November 2019	166	11,680	11,846
Charge for year	40	-	40
On disposals	-	-	-
Other adjustments	-	-	-
At 31 October 2020	206	11,680	11,886
Net book value
At 31 October 2020	1	1	2
At 31 October 2019	41	1	42

Notes to the Financial Statements

for the Period Ended 31 October 2020

5. Debtors

	2020 £	2019 £
Other debtors	441,440	190,369
Total	441,440	190,369

Notes to the Financial Statements

for the Period Ended 31 October 2020

6.Creditors: amounts falling due within one year note

	2020 £	2019 £
Bank loans and overdrafts	871	871
Trade creditors	49,636	50,961
Taxation and social security	33,010	22,107
Accruals and deferred income	37,415	36,380
Other creditors	439,500	74,553
Total	560,432	184,872

Notes to the Financial Statements

for the Period Ended 31 October 2020

7.1.Related party disclosures

Name of related party:	Nicolas W Smale
Description of relationship:
Director and Owner
Description of the transaction:
Monies advanced to Updraft Ltd by Mr Smale including expenses incurred on behalf of Updraft Ltd by Mr Smale but not repaid by the end of the period. The balance is included in Other Creditors.
Balance at 01 November 2019	37,304
Balance at 31 October 2020	37,304

Name of related party:	Phoenicks Ltd
Description of relationship:
Mr Smale is Director and majority owner of Phoenicks Ltd
Description of the transaction:
During the current period (and during previous periods) Updraft has charged Phoenicks Ltd for software and related services performed on its behalf. These charges had not been paid by the year end. The balance is included in Other Debtors.
Balance at 01 November 2019	544,840
Balance at 31 October 2020	440,840

Notes to the Financial Statements

for the Period Ended 31 October 2020

7.2.Related party disclosures

Name of related party:	Herriard Recoveries Ltd
Description of relationship:
Mr Smale is Director and majority Owner of Herriard Recoveries Ltd
Description of the transaction:
Advance payments for a licence agreement to resell Updraft's Shoogle software. The balance owing is included in Other Creditors.
Balance at 01 November 2019	354,850
Balance at 31 October 2020	343,930

Director:		Nicolas W Smale


Registered office:		Pepperbox Herriard Basingstoke Hampshire RG25 2PQ


Company Registration Number:		08254043 (England and Wales)

Accounts Submission