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REGISTERED NUMBER: 05979708 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Uprights Solicitors Limited

Uprights Solicitors Limited (Registered number: 05979708)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Uprights Solicitors Limited (Registered number: 05979708)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,778 1,773
2,778 1,773

CURRENT ASSETS
Debtors 6 35,334 57,562
Cash at bank 158,075 111,369
193,409 168,931
CREDITORS
Amounts falling due within one year 7 161,617 119,270
NET CURRENT ASSETS 31,792 49,661
TOTAL ASSETS LESS CURRENT LIABILITIES 34,570 51,434

CREDITORS
Amounts falling due after more than one year 8 (33,537 ) (37,858 )

PROVISIONS FOR LIABILITIES (695 ) (337 )
NET ASSETS 338 13,239

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 238 13,139
SHAREHOLDERS' FUNDS 338 13,239

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 2024 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 2023

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

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.


Uprights Solicitors Limited (Registered number: 05979708)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 150,000
AMORTISATION
At 1 January 2023
and 31 December 2023 150,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 14,994 13,858 28,852
Additions 1,561 - 1,561
At 31 December 2023 16,555 13,858 30,413
DEPRECIATION
At 1 January 2023 13,749 13,330 27,079
Charge for year 421 135 556
At 31 December 2023 14,170 13,465 27,635
NET BOOK VALUE
At 31 December 2023 2,385 393 2,778
At 31 December 2022 1,245 528 1,773

Uprights Solicitors Limited (Registered number: 05979708)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,136 13,613
Other debtors 29,198 43,949
35,334 57,562

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,000 6,000
Trade creditors 214 78
Taxation and social security 4,818 3,283
Other creditors 150,585 109,909
161,617 119,270

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 33,537 37,858

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 9,537 13,858

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
N E Upright
Balance outstanding at start of year - 53,659
Amounts advanced 33,924 28,102
Amounts repaid (34,000 ) (81,761 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (76 ) -