Company Registration No. 10280011 (England and Wales)
Usethegeeks Limited
Unaudited accounts
for the period from 15 July 2016 to 31 July 2017
Usethegeeks Limited
Unaudited accounts
Contents
Usethegeeks Limited
Company Information
for the period from 15 July 2016 to 31 July 2017
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 2017
Cash at bank and in hand
30,928
Creditors: amounts falling due within one year
(66,841)
Called up share capital
200
Profit and loss account
28,165
Shareholders' funds
28,365
For the period ending 31 July 2017 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.
Approved by the Board on 19 March 2018.
Andrew Pickett
Director
Company Registration No. 10280011
Usethegeeks Limited
Notes to the Accounts
for the period from 15 July 2016 to 31 July 2017
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.
These financial statements for the period from 15 July 2016 to 31 July 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 15 July 2016.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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:
Usethegeeks Limited
Notes to the Accounts
for the period from 15 July 2016 to 31 July 2017
4
Tangible fixed assets
Plant & machinery
Accrued income and prepayments
1,400
6
Creditors: amounts falling due within one year
2017
Taxes and social security
33,446
Loans from directors
3,750
Allotted, called up and fully paid:
150 Ordinary A Shares of £1 each
150
10 Ordinary B Shares of £1 each
10
40 Ordinary C Shares of £1 each
40
Usethegeeks Limited
Notes to the Accounts
for the period from 15 July 2016 to 31 July 2017
8
Operating lease commitments
2017
At 31 July 2017 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within two to five years
31,265
More than five years
1,274
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
10
Average number of employees
During the period the average number of employees was 6.
