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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
Usearch Ltd is a limited liability company incorporated registered in England and Wales. Its registered office address is at 2nd Floor Connaught House, 1-3 Mount Street, London, United Kingdom, W1K 3NB.
The principal activity of the Company during the year was that of management consultancy.
The financial statements are presented in £ sterling, which is the functional currency of the Company.
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:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Turnover comprises revenue recognised by the company in respect of services supplied during the year, net of trade discounts and excluding value added tax.
Revenue is recognised when the company has satisfied its performance obligations by transferring control of the services to the customer, and the amount of revenue can be measured reliably. Revenue is measured at the fair value of the consideration received or receivable for services provided in the ordinary course of business.
For consultancy and professional services, revenue is recognised as the services are performed and delivered to the customer. Where services are provided over a period of time, revenue is recognised by reference to the stage of completion of the engagement at the reporting date, provided that the outcome of the contract can be estimated reliably.
Amounts received in advance of services being provided are recognised as deferred income within creditors and are released to revenue as the related services are performed. Revenue is recognised only when it is probable that the economic benefits associated with the transaction will flow to the company and any specific contractual conditions have been satisfied.
Interest income is recognised in profit or loss using the effective interest method.
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