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REGISTERED NUMBER: 08383598 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

USG ENTERTAINMENT LIMITED

USG ENTERTAINMENT LIMITED (REGISTERED NUMBER: 08383598)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


USG ENTERTAINMENT LIMITED (REGISTERED NUMBER: 08383598)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 352 470

CURRENT ASSETS
Debtors 5 - 383
Cash at bank - 73
- 456
CREDITORS
Amounts falling due within one year 6 23,256 22,793
NET CURRENT LIABILITIES (23,256 ) (22,337 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(22,904

)

(21,867

)

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings (23,904 ) (22,867 )
SHAREHOLDERS' FUNDS (22,904 ) (21,867 )

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

USG ENTERTAINMENT LIMITED (REGISTERED NUMBER: 08383598)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024


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 28 October 2024 and were signed on its behalf by:





G Constantinou - Director


USG ENTERTAINMENT LIMITED (REGISTERED NUMBER: 08383598)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

USG Entertainment 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: 08383598

Registered office: 151 North Circular Road
London
N13 5EL

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - straight line over the life of the lease
Fixtures and fittings - 25% on reducing balance

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 statement of financial position date.


USG ENTERTAINMENT LIMITED (REGISTERED NUMBER: 08383598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The company continues with the support of G Constantinou and K Georgiou who will not allow any of its creditors to suffer as a result of the Directors decision to allow the company to continue to trade under the circumstances having also deferred the claim to immediate repayment of the company's indebtedness to them.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 8,000 3,921 11,921
DEPRECIATION
At 1 February 2023 8,000 3,451 11,451
Charge for year - 118 118
At 31 January 2024 8,000 3,569 11,569
NET BOOK VALUE
At 31 January 2024 - 352 352
At 31 January 2023 - 470 470

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by participating interests - 383

USG ENTERTAINMENT LIMITED (REGISTERED NUMBER: 08383598)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 244 -
Other creditors 23,012 22,793
23,256 22,793

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans 12,000 12,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:


20242023
£   £   
Amounts owed by/(to) G Constantinou (Director)(1,319)(1,029)
Amounts owed by/(to) K T Georgiou (Director)(9,260)(9,260)