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NEXT UP BRANDS LTD

NEXT UP BRANDS LTD - Company Information

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Company Registration Number:
12582984 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 June 2022

End date: 31 December 2022

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Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

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Balance sheet

As at 31 December 2022


Notes
31 December 2022
31 May 2022


£
£
Current assets
Stocks: 206,671 109,534
Debtors: 3 107,957 50,135
Cash at bank and in hand: 92,613 36,954
Total current assets: 407,241 196,623
Creditors: amounts falling due within one year: 4 (486,526) (253,097)
Net current assets (liabilities): (79,285) (56,474)
Total assets less current liabilities: (79,285) (56,474)
Total net assets (liabilities): (79,285) (56,474)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (79,385) (56,574)
Shareholders funds: (79,285) (56,474)

The notes form part of these financial statements

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Balance sheet statements

For the year ending 31 December 2022 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 22 September 2023
and signed on behalf of the board by:

Name: Mr T S Jones
Status: Director

The notes form part of these financial statements

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Notes to the Financial Statements

for the Period Ended 31 December 2022

1. Accounting policies

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

Turnover policy

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

Other accounting policies

Basis of preparationThe period under review relates to the seven months ended 31 December 2022. The comparative figures are for the twelve months ended 31 May 2022.InventoriesInventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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Notes to the Financial Statements

for the Period Ended 31 December 2022

2. Employees

31 December 2022 31 May 2022
Average number of employees during the period 1 1

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Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Debtors

Debtors comprise of: Trade debtors - £107,857 (2022 - £29,498), Other debtors - £100 (2022 - £20,637)

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Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Creditors: amounts falling due within one year note

Trade creditors - £83,401 (2022 - £120,965)Amounts owed to group undertakings and undertakings in which the company has a participating interest - £200,000 (2022 - £78,351)Taxation and social security - £2,425 (2022 - £nil)Other creditors - £200,700 (2022 - £53,781)

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Notes to the Financial Statements

for the Period Ended 31 December 2022

5. Related party transactions

As at the Balance Sheet date, the company was indebted to Stratton Brandhouse Ltd, a company associated by common directorship, in the amount of £200,000 (2022 - £78,351)