ACCOUNTS - Final Accounts preparation

USP BUSINESS DEVELOPMENT LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31falsetrue2022-01-0111trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04611767 2022-01-01 2022-12-31 04611767 2022-12-31 04611767 2021-01-01 2021-12-31 04611767 2021-12-31 04611767 c:Director1 2022-01-01 2022-12-31 04611767 d:ComputerEquipment 2022-01-01 2022-12-31 04611767 d:ComputerEquipment 2022-12-31 04611767 d:ComputerEquipment 2021-12-31 04611767 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 04611767 d:CurrentFinancialInstruments 2022-12-31 04611767 d:CurrentFinancialInstruments 2021-12-31 04611767 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04611767 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 04611767 d:ShareCapital 2022-12-31 04611767 d:ShareCapital 2021-12-31 04611767 d:RetainedEarningsAccumulatedLosses 2022-12-31 04611767 d:RetainedEarningsAccumulatedLosses 2021-12-31 04611767 c:FRS102 2022-01-01 2022-12-31 04611767 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 04611767 c:FullAccounts 2022-01-01 2022-12-31 04611767 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 04611767 2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 04611767

USP BUSINESS DEVELOPMENT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

USP BUSINESS DEVELOPMENT LIMITED

REGISTERED NUMBER: 04611767

BALANCE SHEET

AS AT 31 DECEMBER 2022

		2022		2021
Note		£		£

Fixed assets
Tangible assets	4		302		605
			302		605
Current assets
Debtors: amounts falling due within one year	5	434		524
Cash at bank and in hand	6	37		3,301
		471		3,825
Creditors: amounts falling due within one year	7	(15,456)		(14,081)
Net current liabilities			(14,985)		(10,256)
Total assets less current liabilities			(14,683)		(9,651)

Net liabilities			(14,683)		(9,651)

Capital and reserves
Called up share capital	2	2
Profit and loss account	(14,685)	(9,653)
	(14,683)	(9,651)

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USP BUSINESS DEVELOPMENT LIMITED

REGISTERED NUMBER: 04611767

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Ms S McCauley

Director

Date: 13 October 2023

The notes on pages 3 to 6 form part of these financial statements.

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USP BUSINESS DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.	General information

USP Business Development Limited is a private company, limited by shares, domiciled in England and Wales, registration number 04611767. The registered office is 1 Vincent Square, London, SW1P 2PN.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

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.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Tangible fixed assets

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:

Computer equipment

33%

Straight Line

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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USP BUSINESS DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

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USP BUSINESS DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 January 2022	908
	At 31 December 2022	908
	Depreciation
	At 1 January 2022	303
	Charge for the year on owned assets	303
	At 31 December 2022	606
	Net book value
	At 31 December 2022	302
	At 31 December 2021	605

Debtors

					2022	2021
					£	£


Other debtors	434	524
	434	524

6.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	37	3,301
	37	3,301

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USP BUSINESS DEVELOPMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

7.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Other creditors	15,456	14,081
	15,456	14,081

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