1 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 19,301 19,301 3,834 2,848 148 2,996 838 986 xbrli:pure xbrli:shares iso4217:GBP 05774725 2024-01-01 2024-12-31 05774725 2024-12-31 05774725 2023-12-31 05774725 2023-01-01 2023-12-31 05774725 2023-12-31 05774725 2022-12-31 05774725 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-01-01 2024-12-31 05774725 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 05774725 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 05774725 bus:Director1 2024-01-01 2024-12-31 05774725 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 05774725 core:WithinOneYear 2024-12-31 05774725 core:WithinOneYear 2023-12-31 05774725 core:ShareCapital 2024-12-31 05774725 core:ShareCapital 2023-12-31 05774725 core:RetainedEarningsAccumulatedLosses 2024-12-31 05774725 core:RetainedEarningsAccumulatedLosses 2023-12-31 05774725 bus:SmallEntities 2024-01-01 2024-12-31 05774725 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05774725 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05774725 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05774725 bus:FullAccounts 2024-01-01 2024-12-31 05774725 bus:OrdinaryShareClass1 2024-12-31 05774725 bus:OrdinaryShareClass1 2023-12-31 05774725 bus:OrdinaryShareClass2 2024-12-31 05774725 bus:OrdinaryShareClass2 2023-12-31 05774725 bus:AllOrdinaryShares 2024-12-31 05774725 bus:AllOrdinaryShares 2023-12-31 05774725 core:OfficeEquipment 2024-01-01 2024-12-31 05774725 core:OfficeEquipment 2024-12-31 05774725 core:OfficeEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 05774725
USP (GB) Limited
Filleted Unaudited Financial Statements
31 December 2024
USP (GB) Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
838
986
Current assets
Debtors
6
7,355
5,004
Prepayments and accrued income
314
207
Creditors: amounts falling due within one year
7
57,144
56,902
-------
-------
Net current liabilities
49,475
51,691
-------
-------
Total assets less current liabilities
( 48,637)
( 50,705)
-------
-------
Capital and reserves
Called up share capital
8
101
101
Profit and loss account
( 48,738)
( 50,806)
-------
-------
Shareholders deficit
( 48,637)
( 50,705)
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 July 2025 , and are signed on behalf of the board by:
C. Hayman
Director
Company registration number: 05774725
USP (GB) Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered and trading in England and Wales with company number 05774725 . The address of the registered office is 8 Jury Street, Warwick, CV34 4EW.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the company and rounded to the nearest £.
Going concern
The continuation of the company's affairs is dependent upon the support of the directors. These accounts have been prepared on a going concern basis which assumes their continued support for the foreseeable future.
Judgements in applying accounting policies and key sources of estimation in uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development Costs
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
15% reducing balance
Financial instruments
The company only has basic financial instruments. - Financial Assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
4. Intangible assets
Development costs
£
Cost
At 1 January 2024 and 31 December 2024
19,301
-------
Amortisation
At 1 January 2024 and 31 December 2024
19,301
-------
Carrying amount
At 31 December 2024
-------
At 31 December 2023
-------
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 January 2024 and 31 December 2024
3,834
3,834
------
------
Depreciation
At 1 January 2024
2,848
2,848
Charge for the year
148
148
------
------
At 31 December 2024
2,996
2,996
------
------
Carrying amount
At 31 December 2024
838
838
------
------
At 31 December 2023
986
986
------
------
6. Debtors
2024
2023
£
£
Trade debtors
7,355
5,004
------
------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
241
5,123
Trade creditors
1,125
987
Social security and other taxes
18,129
18,546
Other creditors
37,649
32,246
-------
-------
57,144
56,902
-------
-------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary A shares of £ 1 each
100
100
100
100
Ordinary B shares of £ 1 each
1
1
1
1
----
----
----
----
101
101
101
101
----
----
----
----
9. Director's advances, credits and guarantees
At the reporting date the directors loan account was in credit by £33,516 (2023: £30,138). There is no fixed term for repayment and no interest is charged.