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REGISTERED NUMBER: SC566016 (Scotland)















US V THEM LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MAY 2022






US V THEM LTD (REGISTERED NUMBER: SC566016)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

US V THEM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2022







DIRECTORS: J Aitken
C I Darroch





REGISTERED OFFICE: 200 Gallowgate
Glasgow
G1 5DR





REGISTERED NUMBER: SC566016 (Scotland)





ACCOUNTANTS: Colin Emery and Co. , Chartered Accountants
2 Comorach House,
Pollok Castle Estate,
Newton Mearns,
Glasgow
G77 6NT

US V THEM LTD (REGISTERED NUMBER: SC566016)

BALANCE SHEET
31 MAY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,192 6,288
Tangible assets 5 49,582 57,882
53,774 64,170

CURRENT ASSETS
Stocks 29,900 22,400
Debtors 6 90,851 34,181
Cash at bank and in hand 4,204 3,667
124,955 60,248
CREDITORS
Amounts falling due within one year 7 105,249 38,271
NET CURRENT ASSETS 19,706 21,977
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,480

86,147

CREDITORS
Amounts falling due after more than one year 8 77,195 85,000
NET (LIABILITIES)/ASSETS (3,715 ) 1,147

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings (3,745 ) 1,117
(3,715 ) 1,147

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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.

US V THEM LTD (REGISTERED NUMBER: SC566016)

BALANCE SHEET - continued
31 MAY 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:





J Aitken - Director


US V THEM LTD (REGISTERED NUMBER: SC566016)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022


1. STATUTORY INFORMATION

Us V Them Ltd is a private company, limited by shares, registered in Scotland. The company's registered number is SC566016 and its registered office is 200 Gallowgate, Glasgow, G1 5DR.

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.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and with their continued support, they continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

Turnover is attributable to coffee shop sales and the repair and sale of machinery and is recognised when a service is delivered to the customer.

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.
Plant and machinery - 33% on reducing balance
Computer equipment - 33% on cost

US V THEM LTD (REGISTERED NUMBER: SC566016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022


2. ACCOUNTING POLICIES - continued

Financial instruments
Debtors
Trade debtors, accounts receivable on contracts and other debtors, excluding prepayments, are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term maturity, being 12 months or less, from the opening of the deposit or similar account. In the balance sheet bank overdrafts are shown within creditors.

Creditors
Trade creditors and other creditors are recognised when the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

Loans
Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

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

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 5 (2021 - 3 ) .

US V THEM LTD (REGISTERED NUMBER: SC566016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2021
and 31 May 2022 10,480
AMORTISATION
At 1 June 2021 4,192
Charge for year 2,096
At 31 May 2022 6,288
NET BOOK VALUE
At 31 May 2022 4,192
At 31 May 2021 6,288

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 June 2021 45,070 30,132 3,404 78,606
Additions - 11,457 - 11,457
At 31 May 2022 45,070 41,589 3,404 90,063
DEPRECIATION
At 1 June 2021 8,249 10,397 2,078 20,724
Charge for year 9,014 10,079 664 19,757
At 31 May 2022 17,263 20,476 2,742 40,481
NET BOOK VALUE
At 31 May 2022 27,807 21,113 662 49,582
At 31 May 2021 36,821 19,735 1,326 57,882

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 26,787 11,952
Other debtors 64,064 22,229
90,851 34,181

US V THEM LTD (REGISTERED NUMBER: SC566016)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 32,152 15,778
Taxation and social security 59,044 6,379
Other creditors 14,053 16,114
105,249 38,271

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 27,205 35,000
Other creditors 49,990 50,000
77,195 85,000

9. OTHER FINANCIAL COMMITMENTS

As at 31 May 2022, the company had commitments under non-cancellable operating leases over the remaining life of those leases of £57,792 (2021: £76,358).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2022 and 31 May 2021:

2022 2021
£    £   
J Aitken
Balance outstanding at start of year 19,004 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,735 19,004

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
US V THEM LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Us V Them Ltd for the year ended 31 May 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Us V Them Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Us V Them Ltd and state those matters that we have agreed to state to the Board of Directors of Us V Them Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Us V Them Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Us V Them Ltd. You consider that Us V Them Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Us V Them Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Colin Emery and Co. , Chartered Accountants
2 Comorach House,
Pollok Castle Estate,
Newton Mearns,
Glasgow
G77 6NT


27 October 2023