Uplands Mobiles Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03977335 (England and Wales)

UPLANDS MOBILES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTOR:

P Hooper

REGISTERED OFFICE:

197 St Helens Avenue

Swansea

SA1 4NE

REGISTERED NUMBER:

03977335 (England and Wales)

ACCOUNTANTS:

Bevan & Buckland

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

24,023

18,331

24,023

18,331

CURRENT ASSETS

Stocks

73,008

91,955

Debtors

1,093,903

1,048,443

Cash at bank and in hand

598,831

565,580

1,765,742

1,705,978

CREDITORS

Amounts falling due within one year

1,115,290

1,240,291

NET CURRENT ASSETS

650,452

465,687

TOTAL ASSETS LESS CURRENT
LIABILITIES

674,475

484,018

CAPITAL AND RESERVES

Called up share capital

4

1

Retained earnings

674,474

484,017

SHAREHOLDERS' FUNDS

674,475

484,018

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 3 September 2016 and were signed by:

P A Hooper - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

with applicable accounting standards.

Turnover

Turnover, which excludes value added tax, represents the invoiced value of goods and services

supplied and the commission earned from the supply of mobile phone contracts.

Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of

the identifiable assets and liabilities. It is amortised to the Profit and loss account over its estimated

economic life.

Tangible fixed assets

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

Fixtures and fittings

-

8 years

Motor vehicles

-

Over 5 years

Computer equipment

-

Over 5 years

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value. In general, cost is

determined on an average basis. In the case of manufactured products, cost includes all direct

expenditure and production overheads based upon a normal level of activity. Net realisable value is the

price at which stocks can be sold in the normal course of business, after allowing for the costs of

realisation. Provision is made where necessary for obsolete, slow moving and defective stocks.

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 represent differences between gains and losses recognised

for tax purposes in periods different from those in which they are recognised in the financial

statements. No deferred tax is recognised on permanent timing differences between the company's

taxable gains and losses and its results, as stated in the financial statements. Deferred tax assets and

liabilities are included without discounting.

Pension costs and other post-retirement benefits

The company participates in a defined contribution money purchase schemes. The charge against

profits represents the contributions payable to the pension schemes in respect of the accounting

period. The asset of the pension schemes are held separately from those of the company.

Other debtors

Included in other debtors is the prepaid asset in respect to the estimate of the cost of phones booked

out of stock to sell under revenue share arrangements.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

500,000

AMORTISATION

At 1 January 2015

and 31 December 2015

500,000

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

215,923

Additions

13,105

Disposals

(367

)

At 31 December 2015

228,661

DEPRECIATION

At 1 January 2015

197,592

Charge for year

7,413

Eliminated on disposal

(367

)

At 31 December 2015

204,638

NET BOOK VALUE

At 31 December 2015

24,023

At 31 December 2014

18,331

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

1

Ordinary

£1

1

5.	ULTIMATE PARENT COMPANY

Uplands Group Limited is regarded by the director as being the company's ultimate parent company.

According to the register kept by the company, Uplands Group Limited had a 100% interest in the

equity share capital of the company.

6.	RELATED PARTY DISCLOSURES

During the period, total dividends of £114,890 (2014: £113,000) was paid to Uplands Group Limited.

At the year end £124,568 (2014: 124,568) was due from Uplands Group Limited, the parent company.

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Uplands Mobiles Limited for the year ended 31 December 2015 which comprise

the Profit and Loss Account, the 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of Uplands Mobiles Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Uplands Mobiles Limited and state those matters that we have agreed to state to the director of Uplands Mobiles Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Uplands Mobiles 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 Uplands Mobiles Limited. You consider that Uplands Mobiles 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 Uplands Mobiles 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.

Bevan & Buckland

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

3 September 2016