Upside Energy Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 09115827 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

UPSIDE ENERGY LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

G Oakes

M D Potts

C Joly

REGISTERED OFFICE:

64

The Crescent

Northwich

Cheshire

CW9 8AD

REGISTERED NUMBER:

09115827 (England and Wales)

ACCOUNTANTS:

Howard Worth Chartered Accountants

Bank Chambers

3 Churchyardside

Nantwich

Cheshire

CW5 5DE

FIXED ASSETS

Intangible assets

2

19,431

-

Tangible assets

3

3,593

-

23,024

-

CURRENT ASSETS

Debtors

116,935

-

Cash at bank and in hand

262,706

1

379,641

1

CREDITORS

Amounts falling due within one year

139,216

-

NET CURRENT ASSETS

240,425

1

TOTAL ASSETS LESS CURRENT
LIABILITIES

263,449

1

CAPITAL AND RESERVES

Called up share capital

4

362

1

Share premium

309,938

-

Profit and loss account

(46,851

)

-

SHAREHOLDERS' FUNDS

263,449

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 3 May 2016 and were signed on its
behalf by:

G Oakes - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Patents

The patent fee is being amortised evenly over its estimated useful life of 5 years.

Tangible fixed assets

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

Computer equipment

-

50% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

24,289

At 31 March 2016

24,289

AMORTISATION

Amortisation for year

4,858

At 31 March 2016

4,858

NET BOOK VALUE

At 31 March 2016

19,431

3.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

7,186

At 31 March 2016

7,186

DEPRECIATION

Charge for year

3,593

At 31 March 2016

3,593

NET BOOK VALUE

At 31 March 2016

3,593

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/16

31/3/15

value:

£

150

Ordinary Oakes

£1

150

1

150

Ordinary Tripod

£1

150

-

77

Ordinary Investor

£1

62

-

362

1

The following shares were allotted and fully paid for cash at par during the year:

149 Ordinary Oakes shares of £1 each

150 Ordinary Tripod shares of £1 each

77 Ordinary Investor shares of £1 each were allotted as fully paid at a premium of £4999 per share

during the year.