USP Designs Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10346273 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

25 AUGUST 2016 TO 28 FEBRUARY 2017

FOR

USP DESIGNS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Donald Crawley

Nicholas Harper

Mallory Kauderer

Donita Leavitt

REGISTERED OFFICE:

311 Ballards Lane

London

N12 8LY

REGISTERED NUMBER:

10346273 (England and Wales)

ACCOUNTANTS:

Defries Weiss (Accountants) Limited

311 Ballards Lane

London

N12 8LY

CURRENT ASSETS

Debtors

3

5,001

CREDITORS

Amounts falling due within one year

4

31,420

NET CURRENT LIABILITIES

(26,419

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(26,419

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(26,420

)

(26,419

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 22 November 2017 and were signed on its behalf by:

Donald Crawley - Director

1.	STATUTORY INFORMATION

USP Designs Limited is a private company, limited by shares, registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

("FRS 102") and the Companies Act 2006. The financial statements have been prepared under the historical cost

convention.

Financial instruments

Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and

amounts with related parties are initially recognised at transaction price and are subsequently carried at

amortised cost using the effective interest method unless the arrangements constitutes a financing transaction,

where the transaction is measured at the present value of the future receipts discounted at a market rate of

interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.

Taxation

Taxation for the period 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 period 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.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Sundry debtors

5,001

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

20,000

Amount owed to group undertaking

10,000

Other creditors

1,420

31,420

5.	GOING CONCERN

The financial statements have been prepared on a going concern basis, which is dependent on the continued

support of Resource Investments Limited. The directors believe that the support will not be withdrawn in the

foreseeable future, and therefore the going concern basis is reasonable.