REGISTERED NUMBER: 07046146 (England and Wales)

USG LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

2,309

Tangible assets

5

1,325

17,159

1,325

19,468

CURRENT ASSETS

Stocks

473,828

570,118

Debtors

493,526

509,554

Cash at bank and in hand

20,826

30,947

988,180

1,110,619

CREDITORS

Amounts falling due within one year

864,858

406,357

NET CURRENT ASSETS

123,322

704,262

TOTAL ASSETS LESS CURRENT LIABILITIES

124,647

723,730

CREDITORS

Amounts falling due after more than one year

60,000

544,351

NET ASSETS

64,647

179,379

CAPITAL AND RESERVES

Called up share capital

1,144

1,144

Share premium

648,793

648,793

Retained earnings

(585,290

)

(470,558

)

SHAREHOLDERS' FUNDS

64,647

179,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 September 2026 and were signed on its behalf by:

Mr M J Yeo - Director

1.	STATUTORY INFORMATION

USG 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:

07046146

Registered office:

Yelverton House

St John Street

Whitland

Carmarthenshire

SA34 0AW

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.

The company is reliant on the ongoing support of its directors whereby they will continue to provide funding until such time that the company has reported sufficient profits to fund its working capital requirements.

The directors have a reasonable expectation that the company has access to adequate funding for it to continue trading for the foreseeable future and as a result of this, the directors continues to adopt the going concern basis of accounting.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Amortisation is provided at the following annual rates in order to write of each asset over its estimated useful life.

Brand

- 20% on cost

Website

- 33% on cost

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance and Straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2025

and 31 December 2025

296,284

AMORTISATION

At 1 January 2025

293,975

Amortisation for year

2,309

At 31 December 2025

296,284

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

2,309

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2025

59,700

Additions

1,058

Disposals

(36,840

)

At 31 December 2025

23,918

DEPRECIATION

At 1 January 2025

42,541

Charge for year

546

Eliminated on disposal

(20,494

)

At 31 December 2025

22,593

NET BOOK VALUE

At 31 December 2025

1,325

At 31 December 2024

17,159