Upland Developments Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC055492 (Scotland)

Unaudited Financial Statements for the Year Ended 30th April 2022

for

Upland Developments Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

Directors:

D J Cameron

G J Gerrard

F Maclennan

Secretary:

F Maclennan

Registered office:

First Floor

111 Grampian Road

Aviemore

PH22 1RH

Registered number:

SC055492 (Scotland)

Accountants:

Frame Kennedy

4th Floor Metropolitan House

31-33 High Street

Inverness

IV1 1HT

The following reproduces the text of the report prepared for the directors 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 Directors 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 Upland Developments Limited for the year ended 30th April 2022 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Upland Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Upland Developments Limited and state those matters that we have agreed to state to the Board of Directors of Upland Developments Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Upland Developments 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 profit of Upland Developments Limited. You consider that Upland Developments 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 Upland Developments 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.

Frame Kennedy

4th Floor Metropolitan House

31-33 High Street

Inverness

IV1 1HT

Date: .............................................

Fixed assets

Tangible assets

4

5,467

6,779

Investments

5

1,000

1,000

6,467

7,779

Current assets

Stocks

1,578,735

2,799,353

Debtors

6

17,217,595

14,689,042

Cash at bank

6,956,350

7,785,132

25,752,680

25,273,527

Creditors

Amounts falling due within one year

7

407,769

163,572

Net current assets

25,344,911

25,109,955

Total assets less current liabilities

25,351,378

25,117,734

Capital and reserves

Called up share capital

44,000

44,000

Capital redemption reserve

4,000

4,000

Retained earnings

25,303,378

25,069,734

25,351,378

25,117,734

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th April 2023 and were signed on its behalf by:

D J Cameron - Director

1.	Statutory information

Upland Developments Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Other Tangible Assets

-

25% on reducing balance and 10% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 6 (2021 - 6 ) .

4.	Tangible fixed assets

Other

Tangible

Assets

£

Cost

At 1st May 2021

and 30th April 2022

99,063

Depreciation

At 1st May 2021

92,284

Charge for year

1,312

At 30th April 2022

93,596

Net book value

At 30th April 2022

5,467

At 30th April 2021

6,779

5.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1st May 2021

and 30th April 2022

1,000

Net book value

At 30th April 2022

1,000

At 30th April 2021

1,000

6.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

284,525

133,258

Other debtors

16,933,070

14,555,784

17,217,595

14,689,042

7.

Creditors: amounts falling due within one year

2022

2021

£

£

Trade creditors

238,814

19,916

Taxation and social security

73,809

58,065

Other creditors

95,146

85,591

407,769

163,572

8.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30th April 2022 and 30th April 2021:

2022

2021

£

£

D J Cameron

Balance outstanding at start of year

71,574

61,752

Amounts advanced

20,670

9,822

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

92,244

71,574