Upstream Business Development Limited - Abbreviated accounts 16.3
Upstream Business Development Limited - Abbreviated accounts 16.3
| DRAFT |
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 30 JUNE 2016 |
| FOR |
| UPSTREAM BUSINESS DEVELOPMENT LIMITED |
| UPSTREAM BUSINESS DEVELOPMENT LIMITED (REGISTERED NUMBER: 06536862) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the Year Ended 30 JUNE 2016 |
| DRAFT |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| UPSTREAM BUSINESS DEVELOPMENT LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 30 JUNE 2016 |
| DRAFT |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| UPSTREAM BUSINESS DEVELOPMENT LIMITED (REGISTERED NUMBER: 06536862) |
| ABBREVIATED BALANCE SHEET |
| 30 JUNE 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| DRAFT |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors on by: |
| UPSTREAM BUSINESS DEVELOPMENT LIMITED (REGISTERED NUMBER: 06536862) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the Year Ended 30 JUNE 2016 |
| DRAFT |
| 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 goods and services, excluding value added tax. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Investment property |
| In accordance with the Financial Reporting Standards for Smaller Entities (FRSSE) (effective January 2015), |
| investment properties are revalued annually and the aggregate surplus or deficit is transferred to the revaluation |
| reserve. No depreciation is provided in respect of investment properties. |
| The Companies Act 2006 requires all properties to be depreciated. However this requirement conflicts with the |
| generally accepted accounting principle set out in the FRSSE (effective January 2015). The directors consider, |
| that because investment properties are not held for consumption, but for their investment potential, to depreciate |
| them would not give a true and fair view, and that it is necessary to adopt the FRSSE (effective January 2015) in |
| order to give a true and fair view. |
| If this departure had not been made, the profit for the year would have been reduced by depreciation. The |
| amount of depreciation cannot reasonably be quantified because depreciation is only one of many factors |
| reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately |
| identified or quantified. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Fixed asset investments |
| Fixed asset investments comprise investments in LLPs over which the company exerts significant influence and |
| are accounted for under the equity method. |
| UPSTREAM BUSINESS DEVELOPMENT LIMITED (REGISTERED NUMBER: 06536862) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the Year Ended 30 JUNE 2016 |
| DRAFT |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 July 2015 |
| Additions |
| At 30 June 2016 |
| DEPRECIATION |
| At 1 July 2015 |
| Charge for year |
| At 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments (neither listed nor unlisted) were as follows: |
| 2016 | 2015 |
| £ | £ |
| Investments | 66,434 | 103,999 |
| The above figure represents the company's capital account balance in the Oil & Gas Associates UK LLP, after |
| the discretionary division of profits for the period ended 30 June 2016 as made on 9 November 2016. |
| The aggregate capital and reserves of the LLP at 30 June 2016 were £144,030 (2015: £215,484), the profit for |
| the period was £173,731 (2015: £248,860). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST |
| At 1 July 2015 |
| and 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |