Ubiqueso Ltd |
Notes to the Accounts |
for the year ended 31 May 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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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 rendering of services. 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. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
over 5 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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2 |
Employees |
2024 |
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Number |
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Average number of persons employed by the company |
2 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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Additions |
2,080 |
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At 31 May 2024 |
2,080 |
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Depreciation |
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Charge for the year |
416 |
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At 31 May 2024 |
416 |
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Net book value |
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At 31 May 2024 |
1,664 |
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4 |
Debtors |
2024 |
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£ |
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Other debtors |
111 |
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5 |
Creditors: amounts falling due within one year |
2024 |
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£ |
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Other creditors |
1,168 |
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6 |
Other information |
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Ubiqueso Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Flat 4 |
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Fitzroy Court |
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2 Garnet Place |
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West Drayton |
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UB7 7GB |