Uplands Mobiles Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 03977335 (England and Wales)

UPLANDS MOBILES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

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

4

-

-

Tangible assets

5

11,492

24,023

11,492

24,023

CURRENT ASSETS

Stocks

32,837

73,008

Debtors

1,064,850

1,093,903

Cash at bank and in hand

750,534

598,831

1,848,221

1,765,742

CREDITORS

Amounts falling due within one year

1,011,648

1,115,290

NET CURRENT ASSETS

836,573

650,452

TOTAL ASSETS LESS CURRENT LIABILITIES

848,065

674,475

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

848,064

674,474

SHAREHOLDERS' FUNDS

848,065

674,475

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

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 8 June 2017 and were signed by:

P A Hooper - Director

1.	STATUTORY INFORMATION

Uplands Mobiles Limited is a private company, limited by shares, registered in England and Wales.

The registration number is 03977335 and the registered office is 197 St Helens Avenue, Swansea,

SA1 4NE,

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The principle accounting policies adopted in the preparation of the financial statements are set out

below and have remained unchanged from the previous year, and also have been consistently applied

within the same accounts.

Transition to FRS 102 Section 1A

These financial statements for the year ended 31 December 2016 are the first financial statements that

comply with FRS 102 Section 1A small entities. The date of transition is 1 January 2015. The transition

to FRS 102 Section 1A small entities has not resulted in any changes in accounting policies

Presentation currency

The financial statements are prepared in sterling, which is the functional currency of the company.

Monetary amounts in these financial statements are rounded to the nearest £.

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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

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

Inventories

Inventories and work in progress are valued at the lower of cost and estimated selling price less costs

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is provided on the liability method to take account of timing differences between the

treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

and 31 December 2016

500,000

AMORTISATION

At 1 January 2016

and 31 December 2016

500,000

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

228,661

Additions

744

Disposals

(51,420

)

At 31 December 2016

177,985

DEPRECIATION

At 1 January 2016

204,638

Charge for year

8,771

Eliminated on disposal

(46,916

)

At 31 December 2016

166,493

NET BOOK VALUE

At 31 December 2016

11,492

At 31 December 2015

24,023

6.	RELATED PARTY DISCLOSURES

During the period, total dividends of £212,500 (2015: £114,890) were paid to Uplands Group Limited.

At the year end £101,140 (2015: 124,568) was due from Uplands Group Limited, the parent company.

At the year end £64,488 (2015: NIL) was due from Uplands Car Radio Limited, a subsidiary of Uplands

Group Limited.

7.	ULTIMATE CONTROLLING PARTY

At the date of approval of the financial statements, P A Hooper is considered to be the ultimate

controlling party due to his controlling interest in Uplands Group Limited.

The following reproduces the text of the report prepared for the director and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income

Statement and certain other primary statements and the Report of the Director are not required to be

filed with the Registrar of Companies.

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 2016 which comprise

the Abridged Income Statement, Abridged 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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 ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Uplands Mobiles Limited 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

8 June 2017