Abbreviated Company Accounts - UPSIDE STUDIO LTD

09799152 UPSIDE STUDIO LTD 2016-06-30 false 2015-09-29 2016-06-30 true 09799152 2015-09-29 2016-06-30 09799152 2016-06-30 09799152 uk-gaap-cd-bus:Director1 2015-09-29 2016-06-30 09799152 uk-gaap-cd-bus:Director2 2015-09-29 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-29 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-06-30 iso4217:GBP shares

Registered Number 09799152

UPSIDE STUDIO LTD

Abbreviated Accounts

30 June 2016

UPSIDE STUDIO LTD Registered Number 09799152

Abbreviated Balance Sheet as at 30 June 2016

	Notes	2016
		£
Fixed assets
Tangible assets	2	5,464
		5,464
Current assets
Debtors		734,723
Cash at bank and in hand		300
		735,023
Creditors: amounts falling due within one year		(470,641)
Net current assets (liabilities)		264,382
Total assets less current liabilities		269,846
Total net assets (liabilities)		269,846
Capital and reserves
Called up share capital	3	1
Profit and loss account		269,845
Shareholders' funds		269,846

For the year ending 30 June 2016 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.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 22 May 2017

And signed on their behalf by:
Mr N Banaie, Director

UPSIDE STUDIO LTD Registered Number 09799152

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
The turnover shown in the profit and loss account represents amounts invoiced during the
period, exclusive of Value Added Tax.

Tangible assets depreciation policy
All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value,
over the useful economic life of that asset as follows:

Equipment - 25% Straight Line Basis

Other accounting policies
Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange
ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at
the rate of exchange ruling at the date of the transaction. Exchange differences are taken into
account in arriving at the operating profit.

2Tangible fixed assets

	£
Cost
Additions	6,557
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2016	6,557
Depreciation
Charge for the year	1,093
On disposals	-
At 30 June 2016	1,093
Net book values
At 30 June 2016	5,464

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £
1 Ordinary shares of £1 each	1

The company is controlled by Upside Holdings Ltd by virtue of it owning 100% of the ordinary
voting share capital.

The directors, Mr N Banaie and Mr T Himpe, are considered to be the ultimate controlling party
by virtue of them owning all of the ordinary voting share capital in Upside Holdings Ltd