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REGISTERED NUMBER: 05979708 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Uprights Solicitors Limited

Uprights Solicitors Limited (Registered number: 05979708)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Balance Sheet 1

Notes to the Financial Statements 3


Uprights Solicitors Limited (Registered number: 05979708)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,170 2,663
2,170 2,663

CURRENT ASSETS
Debtors 6 140,307 126,420
Cash at bank 82,735 222,391
223,042 348,811
CREDITORS
Amounts falling due within one year 7 97,735 184,181
NET CURRENT ASSETS 125,307 164,630
TOTAL ASSETS LESS CURRENT LIABILITIES 127,477 167,293

CREDITORS
Amounts falling due after more than one
year

8

(40,500

)

(26,562

)

PROVISIONS FOR LIABILITIES (412 ) (350 )
NET ASSETS 86,565 140,381

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 86,465 140,281
SHAREHOLDERS' FUNDS 86,565 140,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Uprights Solicitors Limited (Registered number: 05979708)

Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2022 and were signed by:





N E Upright - Director


Uprights Solicitors Limited (Registered number: 05979708)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Uprights Solicitors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05979708

Registered office: 12 Market Street
Leek
Staffordshire
ST13 6HZ

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts chargeable to clients for professional services provided during the year, inclusive of direct expenses incurred on client assignments but excluding value added tax. Turnover is recognised when a right to consideration has been obtained through performance under each contract. Consideration accrues as contract activity progresses by reference to the value of work performed.

Turnover is not recognised where the right to receive payment is conditional on events outside the control of the business.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, has been fully amortised.

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 - 15% on reducing balance
Computer equipment - 25% on reducing balance


Uprights Solicitors Limited (Registered number: 05979708)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 have been enacted or substantively enacted by the balance sheet date.

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 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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 150,000
AMORTISATION
At 1 January 2021
and 31 December 2021 150,000
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

Uprights Solicitors Limited (Registered number: 05979708)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2021
and 31 December 2021 14,994 13,858 28,852
DEPRECIATION
At 1 January 2021 13,271 12,918 26,189
Charge for year 258 235 493
At 31 December 2021 13,529 13,153 26,682
NET BOOK VALUE
At 31 December 2021 1,465 705 2,170
At 31 December 2020 1,723 940 2,663

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 39,594 56,093
Other debtors 100,713 70,327
140,307 126,420

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 7,949 3,192
Taxation and social security 5,160 15,791
Other creditors 84,626 165,198
97,735 184,181

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 40,500 26,562

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 16,500 -

Uprights Solicitors Limited (Registered number: 05979708)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
N E Upright
Balance outstanding at start of year 45,419 45,843
Amounts advanced 59,171 39,576
Amounts repaid (50,931 ) (40,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 53,659 45,419

The loan to the director is included in other debtors and is repayable on demand. No interest has been charged on the loan.