Company Registration No. 10280011 (England and Wales)
Usethegeeks Limited
Unaudited accounts
for the year ended 31 July 2022
Usethegeeks Limited
Unaudited accounts
Contents
Usethegeeks Limited
Company Information
for the year ended 31 July 2022
Directors
Andrew Pickett
Daniel Jones
Company Number
10280011 (England and Wales)
Registered Office
2 Slater Terrace
Burnley
Lancashire
BB11 1BU
Usethegeeks Limited
Statement of financial position
as at 31 July 2022
Tangible assets
3,793
5,248
Cash at bank and in hand
58
52,190
Creditors: amounts falling due within one year
(319,759)
(222,976)
Net current liabilities
(46,402)
(49,962)
Total assets less current liabilities
(42,609)
(44,714)
Creditors: amounts falling due after more than one year
(37,963)
(43,518)
Net liabilities
(80,572)
(88,232)
Called up share capital
320
320
Profit and loss account
(80,892)
(88,552)
Shareholders' funds
(80,572)
(88,232)
For the year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2023 and were signed on its behalf by
Daniel Jones
Director
Company Registration No. 10280011
Usethegeeks Limited
Notes to the Accounts
for the year ended 31 July 2022
Usethegeeks Limited is a private company, limited by shares, registered in England and Wales, registration number 10280011. The registered office is 2 Slater Terrace, Burnley, Lancashire, BB11 1BU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Expenditure on research and development is written off in the year in which it is incurred.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Usethegeeks Limited
Notes to the Accounts
for the year ended 31 July 2022
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Trade debtors
138,101
82,514
Accrued income and prepayments
133
98
Other debtors
135,065
38,212
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
5,556
5,556
Trade creditors
66,568
23,935
Taxes and social security
181,882
143,968
Other creditors
5,401
5,487
Loans from directors
34,653
7,671
7
Creditors: amounts falling due after more than one year
2022
2021
Allotted, called up and fully paid:
150 Ordinary A Shares of £1 each
150
150
10 Ordinary B Shares of £1 each
10
10
160 Ordinary C Shares of £1 each
160
160
Usethegeeks Limited
Notes to the Accounts
for the year ended 31 July 2022
9
Operating lease commitments
2022
2021
At 31 July 2022 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
3,486
7,251
Later than one year and not later than five years
-
3,486
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
27,398
40,019
29,635
37,782
(7,671)
33,273
60,255
(34,653)
19,727
73,292
89,890
3,129
11
Average number of employees
During the year the average number of employees was 16 (2021: 12).
