Registered number
SC670953
You Understood Ltd
Filleted Accounts
31 August 2023
You Understood Ltd
Registered number: SC670953
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Current assets
Cash at bank and in hand 19,336 375
Creditors: amounts falling due within one year 3 (19,236) (1,646)
Net current assets/(liabilities) 100 (1,271)
Net assets/(liabilities) 100 (1,271)
Capital and reserves
Called up share capital 100 100
Profit and loss account - (1,371)
Shareholders' funds 100 (1,271)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Paul Hutchinson
Director
Approved by the board on 13 March 2024
You Understood Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 2
3 Creditors: amounts falling due within one year 2023 2022
£ £
Directors' loan accounts 836 524
Amounts owed to related parties 18,400 1,100
Corporation tax - -
Other taxes and social security - 22
19,236 1,646
4 Other information
You Understood Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
C/O Melbarry Accountants
30/5 Hardengreen Industrial Estate
Dalkeith, Midlothian
Scotland
EH22 3NX
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