Registration number:
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Use Your Common Limited
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Use Your Common Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Use Your Common Limited
Company Information
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Directors |
J F Irwin S Camphion |
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Registered office |
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Accountants |
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Use Your Common Limited
Statement of Financial Position as at 30 November 2024
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Note |
2024 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
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Retained earnings |
15,976 |
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Shareholders' funds |
16,076 |
For the financial period ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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J F Irwin
Director
Company registration number: 15287490
Use Your Common Limited
Notes to the Unaudited Financial Statements for the Period from 15 November 2023 to 30 November 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is the provision of marketing services including project management and social impact campaigns.
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Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Disclosure of long or short period
Going concern
The company made a profit for the period ended 30 November 2024 and had net assets of £16,076 at that date, including cash at bank of £24,929. The company is in its first year of trade and expects to continue to trade profitably due to its low and manageable overheads.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors adopt the going concern basis in preparing the financial statements.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of marketing, social campaigning and project management services in the ordinary course of the company's activities.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
The company recognises revenue in the period to which the services relate.
Use Your Common Limited
Notes to the Unaudited Financial Statements for the Period from 15 November 2023 to 30 November 2024
Tax
The tax expense for the period comprises corporation tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company during the period, was
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Debtors |
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2024 |
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Other debtors |
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Use Your Common Limited
Notes to the Unaudited Financial Statements for the Period from 15 November 2023 to 30 November 2024
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Creditors |
Creditors: amounts falling due within one year
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2024 |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Dividends |
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2024 |
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£ |
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Interim dividend of £ |
1,000 |
The dividends noted above were paid to directors.