IRIS Accounts Production v24.2.0.383 07133606 Board of Directors 1.2.23 31.1.24 31.1.24 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071336062023-01-31071336062024-01-31071336062023-02-012024-01-31071336062022-01-31071336062022-02-012023-01-31071336062023-01-3107133606ns15:EnglandWales2023-02-012024-01-3107133606ns14:PoundSterling2023-02-012024-01-3107133606ns10:Director12023-02-012024-01-3107133606ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3107133606ns10:SmallEntities2023-02-012024-01-3107133606ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3107133606ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3107133606ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3107133606ns10:FullAccounts2023-02-012024-01-3107133606ns10:Director22023-02-012024-01-3107133606ns10:Director32023-02-012024-01-3107133606ns10:Director42023-02-012024-01-3107133606ns10:RegisteredOffice2023-02-012024-01-3107133606ns5:CurrentFinancialInstruments2024-01-3107133606ns5:CurrentFinancialInstruments2023-01-3107133606ns5:Non-currentFinancialInstruments2024-01-3107133606ns5:Non-currentFinancialInstruments2023-01-3107133606ns5:ShareCapital2024-01-3107133606ns5:ShareCapital2023-01-3107133606ns5:SharePremium2024-01-3107133606ns5:SharePremium2023-01-3107133606ns5:CapitalRedemptionReserve2024-01-3107133606ns5:CapitalRedemptionReserve2023-01-3107133606ns5:RetainedEarningsAccumulatedLosses2024-01-3107133606ns5:RetainedEarningsAccumulatedLosses2023-01-3107133606ns5:PlantMachinery2023-01-3107133606ns5:PlantMachinery2023-02-012024-01-3107133606ns5:PlantMachinery2024-01-3107133606ns5:PlantMachinery2023-01-3107133606ns5:CostValuation2023-01-3107133606ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3107133606ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31
REGISTERED NUMBER: 07133606 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

USPIRE LIMITED

USPIRE LIMITED (REGISTERED NUMBER: 07133606)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


USPIRE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr J M G Brough
Mr M P C Francis
Mr C V Wright
Mr C Robinson



REGISTERED OFFICE: 62 The Street
Ashtead
Surrey
KT21 1AT



REGISTERED NUMBER: 07133606 (England and Wales)



ACCOUNTANTS: David Beckman & Co Ltd
62 The Street
Ashtead
Surrey
KT21 1AT



BANKERS: Barclays Bank Plc
PO Box 159
82-84 High Street
Epsom
Surrey
KT19 8YL

USPIRE LIMITED (REGISTERED NUMBER: 07133606)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 6 222
Investments 6 88 88
94 310

CURRENT ASSETS
Debtors 7 134,903 146,245
Cash at bank and in hand 154,570 188,313
289,473 334,558
CREDITORS
Amounts falling due within one year 8 (147,516 ) (143,234 )
NET CURRENT ASSETS 141,957 191,324
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,051

191,634

CREDITORS
Amounts falling due after more than one
year

9

(3,855

)

(24,039

)

PROVISIONS FOR LIABILITIES (2 ) (56 )
NET ASSETS 138,194 167,539

CAPITAL AND RESERVES
Called up share capital 56 56
Share premium 5,396 5,396
Capital redemption reserve 48 48
Retained earnings 132,694 162,039
SHAREHOLDERS' FUNDS 138,194 167,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

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.

USPIRE LIMITED (REGISTERED NUMBER: 07133606)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





Mr J M G Brough - Director


USPIRE LIMITED (REGISTERED NUMBER: 07133606)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Uspire Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis if required.

Preparation of consolidated financial statements
The financial statements contain information about Uspire Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates if necessary. It also requires management to exercise judgement in applying the Company accounting policies.

The items in the financial statements where these judgements and estimates have been made include:

Judgements and Estimates

- The useful life of fixed assets.
- Asset residual values.
- Impairment of assets.

Changes in accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and have also been consistently applied within the same accounts.

Turnover
Turnover represents the net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration based on the extent to which work has been performed.

USPIRE LIMITED (REGISTERED NUMBER: 07133606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives, using the straight-line method.

The rates applicable are:

- Plant and machinery - 20% on cost
- Fixtures and fittings - 15% on cost
- Computer equipment - 25% on cost

Impairment of Assets

At each reporting date, fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment been recognised for the asset in prior years.

All impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans with related parties and other third parties.

Financial Assets
Basic financial assets, including trade and other receivables, and cash and bank balances are recognised at transaction price, less any impairment.

Financial Liabilities
Basic financial liabilities, including trade and other payables, are recognised at transaction price, less any impairment., unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


USPIRE LIMITED (REGISTERED NUMBER: 07133606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

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.

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.

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.

Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 8,560
DEPRECIATION
At 1 February 2023 8,338
Charge for year 216
At 31 January 2024 8,554
NET BOOK VALUE
At 31 January 2024 6
At 31 January 2023 222

USPIRE LIMITED (REGISTERED NUMBER: 07133606)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 February 2023
and 31 January 2024 88
NET BOOK VALUE
At 31 January 2024 88
At 31 January 2023 88

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 73,640 112,228
Amounts owed by group undertakings 5,881 6,086
Other debtors 55,382 27,931
134,903 146,245

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,184 9,996
Trade creditors 119,451 85,895
Amounts owed to group undertakings - 9,044
Taxation and social security 125 21,419
Other creditors 17,756 16,880
147,516 143,234

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 3,855 24,039