Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-03-08false0true1No description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13962522 2022-03-07 13962522 2022-03-08 2023-03-31 13962522 2021-03-08 2022-03-07 13962522 2023-03-31 13962522 c:Director1 2022-03-08 2023-03-31 13962522 d:Buildings 2022-03-08 2023-03-31 13962522 d:Buildings 2023-03-31 13962522 d:CurrentFinancialInstruments 2023-03-31 13962522 d:Non-currentFinancialInstruments 2023-03-31 13962522 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13962522 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13962522 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 13962522 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 13962522 d:ShareCapital 2023-03-31 13962522 d:RetainedEarningsAccumulatedLosses 2023-03-31 13962522 c:OrdinaryShareClass1 2022-03-08 2023-03-31 13962522 c:OrdinaryShareClass1 2023-03-31 13962522 c:FRS102 2022-03-08 2023-03-31 13962522 c:AuditExempt-NoAccountantsReport 2022-03-08 2023-03-31 13962522 c:FullAccounts 2022-03-08 2023-03-31 13962522 c:PrivateLimitedCompanyLtd 2022-03-08 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 13962522









UPPER STREET LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD 8 MARCH 2022 TO 31 MARCH 2023

 
UPPER STREET LIMITED
REGISTERED NUMBER: 13962522

BALANCE SHEET
AS AT 31 MARCH 2023

2023
Note
£

Fixed assets
  

Tangible assets
 5 
588,823

  
588,823

Current assets
  

Debtors: amounts falling due within one year
 6 
3,869

Cash at bank and in hand
 7 
50,243

  
54,112

Creditors: amounts falling due within one year
 8 
(279,887)

Net current (liabilities)/assets
  
 
 
(225,775)

Total assets less current liabilities
  
363,048

Creditors: amounts falling due after more than one year
 9 
(388,125)

  

Net (liabilities)/assets
  
(25,077)


Capital and reserves
  

Called up share capital 
 11 
100

Profit and loss account
  
(25,177)

  
(25,077)


Page 1

 
UPPER STREET LIMITED
REGISTERED NUMBER: 13962522

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 March 2024.




D B Turan
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
UPPER STREET LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Upper Street Limited is a private company limited by shares, incorporated in England and Wales on 8 March 2022, with a company registration number of 13962522. The address of the registered office is Anglia House, 6 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, Norfolk, NR7 0HR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, which assumes the continued support of the company's bankers, its director, and an associated company in the foreseeable furture.  The director considers that the resources available to the company will be sufficient for it to be able to continue as a going concern whilst the investment property is fully developed, and has considered a period of at least twelve months from the balance sheet date.
The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.

 
2.3

Revenue

Turnover comprises Revenue recognised by the company in respect of rental income during the year. Revenue is measured as the fair value of the consideration received or receivable.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
UPPER STREET LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.  No depreciation is considered necessary by the director on the company freehold property.

Depreciation is provided on the following basis:

Freehold property
-
No depreciation

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the period was 1.

Page 4

 
UPPER STREET LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Factors affecting future tax charges

The company has tax losses carried forward of £24,751 available for set-off against future trading profits.


5.


Tangible fixed assets





Freehold property

£



Cost or valuation


Additions
588,823



At 31 March 2023

588,823






Net book value



At 31 March 2023
588,823

The 2023 property valuation was confirmed by D B Turan, the director, based on open market value for existing use basis.
The original cost of the freehold property was £588,823.


6.


Debtors

2023
£


Trade debtors
919

Prepayments
2,950

3,869



7.


Cash and cash equivalents

2023
£

Cash at bank
50,243


Page 5

 
UPPER STREET LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due within one year

2023
£

Bank loans
13,700

Amounts owed to associated company
261,651

Other creditors
2,566

Accruals
1,970

279,887



9.


Creditors: Amounts falling due after more than one year

2023
£

Bank loans
388,125


The following liabilities were secured:

2023
£



Bank loans
401,825

Details of security provided:

This figure represents the aggregate amount of all secured creditors in the company's balance sheet in respect of which security has been given by the company by a charge on the company freehold property.


10.


Loans


Analysis of the maturity of loans is given below:


2023
£

Amounts falling due within one year

Bank loans
13,700


Amounts falling due 2-5 years

Bank loans
74,800

Amounts falling due after more than 5 years

Bank loans
313,325

401,825


Page 6

 
UPPER STREET LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

11.


Share capital

2023
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


The company issued 100 ordinary £1 shares on incorporation on 8 March 2022.


Page 7