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USP BUSINESS DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
USP Business Developments Limited is a private company limited by share capital, registered in
England and Wales.
The company's registration number is 04611767.
The company's registered office is 1 Vincent Square, London, SW1P 2PN.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The company continues to meet its day to day working requirements from loans leveraged by the
directors and shareholders from associated business interests. The company is therefore
dependent upon the support of these loan facilities in order to continue as a going concern.
The directors are satisfied that they can continue to finance the operations of the business in this
manner and enable the company to achieve profitability. Accordingly, the directors consider
it appropriate to prepare these accounts on a going concern basis.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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