Upperspace_Projects_Ltd_31_Oct_2025_companies_house_set_of

Upperspace Projects Ltd

Statement of Financial Position

31 October 2025

		2025		2024
	Note	£		£
Fixed assets
Tangible assets	5	15,537		23,336
Current assets
Debtors	6	28,588		9,938
Cash at bank and in hand		(13,799	)	10,972
		14,789		20,910
Creditors: amounts falling due within one year	7	(22,659	)	(36,583	)
Net current liabilities		(7,870	)	(15,673	)
Total assets less current liabilities		7,667		7,663
Capital and reserves
Called up share capital		100		100
Profit and loss account		7,567		7,563
Shareholders funds		7,667		7,663

For the year ending

31 October 2025

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

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 income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

19 January 2026

, and are signed on behalf of the board by:

P DuraKu

Director

Company registration number:

14444627

Upperspace Projects Ltd

Notes to the Financial Statements

Year ended

31 October 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

69 Celandine Road

Hersham

Walton-on-Thames

KT12 4NY

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract costs are recognised as expenses in the period in which they are incurred and contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery	25% reducing balance
Office equipment	33% straight line
Motor vehicles	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.

Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.

The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4 Average number of employees

The average number of persons employed by the company during the year was

(2024:

1.00

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 November 2024 and 31 October 2025	32,735
Depreciation
At 1 November 2024	9,399
Charge	7,799
At 31 October 2025	17,198
Carrying amount
At 31 October 2025	15,537
At 31 October 2024	23,336

6 Debtors

	2025	2024
	£	£
Trade debtors	6,588	9,938
Other debtors	22,000	-
	28,588	9,938

7 Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	8,329	758
Taxation and social security	1,414	3,541
Other creditors	12,916	32,284
	22,659	36,583

8 Director's advances, credit and guarantees

At the reporting date, included in the other creditors is an amount of £9,915 (2024: £29,284) due to Director of the company.