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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2017 |
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UPMYSPORT LTD |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2017 |
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FOR |
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UPMYSPORT LTD |
UPMYSPORT LTD (REGISTERED NUMBER: 07730614) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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UPMYSPORT LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Stapleton House |
Block A, 2nd Floor |
110 Clifton Street |
London |
EC2A 4HT |
UPMYSPORT LTD (REGISTERED NUMBER: 07730614) |
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STATEMENT OF FINANCIAL POSITION |
31 JANUARY 2017 |
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31.1.17 | 31.1.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
UPMYSPORT LTD (REGISTERED NUMBER: 07730614) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 JANUARY 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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UPMYSPORT LTD (REGISTERED NUMBER: 07730614) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2017 |
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1. | STATUTORY INFORMATION |
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Upmysport Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
There are no significant judgements or estimates applied to the numbers contained within these financial |
statements. |
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Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
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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. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Research and development |
Expenditure on research and development is written off in the period in which it is incurred. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
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Tax credits disclosed on the income statement represent tax losses surrendered for research and development tax |
credits. |
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UPMYSPORT LTD (REGISTERED NUMBER: 07730614) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2017 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Going concern |
The financial statements have been prepared on the going concern basis. The company incurred losses during the |
year however the company has adequate resources in order to meet its obligations, if and when, they become due. |
The directors are therefore of the opinion that they should continue to adopt the going concern basis of |
accounting in preparing the annual financial statements. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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UPMYSPORT LTD (REGISTERED NUMBER: 07730614) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2017 |
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5. | INTANGIBLE FIXED ASSETS |
Trademark |
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COST |
At 1 February 2016 |
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Additions |
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At 31 January 2017 |
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AMORTISATION |
At 1 February 2016 |
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Amortisation for year |
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At 31 January 2017 |
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NET BOOK VALUE |
At 31 January 2017 |
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At 31 January 2016 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 February 2016 |
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Additions |
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Disposals | ( |
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At 31 January 2017 |
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DEPRECIATION |
At 1 February 2016 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 January 2017 |
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NET BOOK VALUE |
At 31 January 2017 |
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At 31 January 2016 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.17 | 31.1.16 |
£ | £ |
Trade debtors |
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Other debtors |
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UPMYSPORT LTD (REGISTERED NUMBER: 07730614) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2017 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.17 | 31.1.16 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | FIRST YEAR ADOPTION OF FRS 102 |
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This is the first year that the company has presented its results and financial position in accordance with FRS |
102. The last financial statements under UK GAAP were for the year ended 31 January 2016. The date that the |
company transitioned to FRS 102 was 1 February 2015. |
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The policies applied under the entity's previous accounting framework are not materially different to FRS 102 |
and have no impacted on equity or profit or loss. |