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REGISTERED NUMBER: 07667221 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 29 December 2023

for

Upstream Workplace Solutions Limited

Upstream Workplace Solutions Limited (Registered number: 07667221)

Contents of the Financial Statements
For The Year Ended 29 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Upstream Workplace Solutions Limited

Company Information
For The Year Ended 29 December 2023







DIRECTORS: Mr A C Greening
Mr T Corrigan





REGISTERED OFFICE: 10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET





REGISTERED NUMBER: 07667221 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Upstream Workplace Solutions Limited (Registered number: 07667221)

Balance Sheet
29 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 109,010 122,958
Tangible assets 5 222,412 263,757
331,422 386,715

CURRENT ASSETS
Stocks 55,200 54,652
Debtors 6 2,355,827 1,978,843
Cash at bank 42,461 100,706
2,453,488 2,134,201
CREDITORS
Amounts falling due within one year 7 2,585,633 2,245,824
NET CURRENT LIABILITIES (132,145 ) (111,623 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

199,277

275,092

CREDITORS
Amounts falling due after more than one
year

8

(92,714

)

(177,750

)

PROVISIONS FOR LIABILITIES 10 (55,603 ) (65,939 )
NET ASSETS 50,960 31,403

CAPITAL AND RESERVES
Called up share capital 11 72 72
Retained earnings 50,888 31,331
SHAREHOLDERS' FUNDS 50,960 31,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 2023 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.

Upstream Workplace Solutions Limited (Registered number: 07667221)

Balance Sheet - continued
29 December 2023


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 23 July 2024 and were signed on its behalf by:





Mr A C Greening - Director


Upstream Workplace Solutions Limited (Registered number: 07667221)

Notes to the Financial Statements
For The Year Ended 29 December 2023


1. STATUTORY INFORMATION

Upstream Workplace Solutions 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.

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on ·an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

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

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on cost
Motor vehicles - Straight line over 8 years
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Upstream Workplace Solutions Limited (Registered number: 07667221)

Notes to the Financial Statements - continued
For The Year Ended 29 December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


Upstream Workplace Solutions Limited (Registered number: 07667221)

Notes to the Financial Statements - continued
For The Year Ended 29 December 2023


2. ACCOUNTING POLICIES - continued
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as ·current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss In finance costs or finance income as appropriate unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or toss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Depreciation policy
The depreciation policy for Motor vehicles was changed in 2022 from straight line over the term of the lease, to straight line over 8 years, as this more fairly reflects the economic life of the assets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 24 ) .

Upstream Workplace Solutions Limited (Registered number: 07667221)

Notes to the Financial Statements - continued
For The Year Ended 29 December 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 30 December 2022
and 29 December 2023 139,477
AMORTISATION
At 30 December 2022 16,519
Charge for year 13,948
At 29 December 2023 30,467
NET BOOK VALUE
At 29 December 2023 109,010
At 29 December 2022 122,958

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 30 December 2022 21,444 353,813 81,159 456,416
Additions - - 6,786 6,786
At 29 December 2023 21,444 353,813 87,945 463,202
DEPRECIATION
At 30 December 2022 13,941 136,066 42,652 192,659
Charge for year 2,536 26,387 19,208 48,131
At 29 December 2023 16,477 162,453 61,860 240,790
NET BOOK VALUE
At 29 December 2023 4,967 191,360 26,085 222,412
At 29 December 2022 7,503 217,747 38,507 263,757

Upstream Workplace Solutions Limited (Registered number: 07667221)

Notes to the Financial Statements - continued
For The Year Ended 29 December 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 30 December 2022 349,880
Transfer to ownership (43,490 )
At 29 December 2023 306,390
DEPRECIATION
At 30 December 2022 134,678
Charge for year 26,014
Transfer to ownership (15,827 )
At 29 December 2023 144,865
NET BOOK VALUE
At 29 December 2023 161,525
At 29 December 2022 215,202

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,313,243 1,289,390
Other debtors 1,042,584 689,453
2,355,827 1,978,843

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 36,391 73,852
Trade creditors 882,817 635,375
Taxation and social security 280,014 177,598
Other creditors 1,336,411 1,308,999
2,585,633 2,245,824

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 75,000 125,000
Hire purchase contracts 17,714 52,750
92,714 177,750

9. SECURED DEBTS

Hire purchase liabilities are secured on the assets concerned.

Upstream Workplace Solutions Limited (Registered number: 07667221)

Notes to the Financial Statements - continued
For The Year Ended 29 December 2023


10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 55,603 65,939

Deferred
tax
£   
Balance at 30 December 2022 65,939
Credit to Statement of Income and Retained Earnings during year (10,336 )
Balance at 29 December 2023 55,603

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary A Shares .01 2 2
70 Ordinary B Shares 1 70 70
72 72