Company Registration No. 04585332 (England and Wales)
YOH SOLUTIONS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
YOH SOLUTIONS LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 11
YOH SOLUTIONS LTD
COMPANY INFORMATION
- 1 -
Directors
Mr. E. McGrath
Mr. J. Comito III
Secretary
Mr. S. Fast
Company number
04585332
Registered office
Arena Business Centre
100 Berkshire Place
Winnersh
Wokingham
RG41 5RD
Auditor
Verallo (formerly Taylorcocks Thames Valley LLP)
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
YOH SOLUTIONS LTD
BALANCE SHEET
AS AT 31 DECEMBER 2021
31 December 2021
- 2 -
2021
2020
Notes
£
£
£
£
Current assets
Debtors
5
881,835
752,886
Cash at bank and in hand
178,470
732,939
1,060,305
1,485,825
Creditors: amounts falling due within one year
6
(520,758)
(874,735)
Net current assets
539,547
611,090
Creditors: amounts falling due after more than one year
7
(3,455,420)
(3,418,787)
Net liabilities
(2,915,873)
(2,807,697)
Capital and reserves
Called up share capital
8
1,800
1,800
Capital redemption reserve
200
200
Profit and loss reserves
(2,917,873)
(2,809,697)
Total equity
(2,915,873)
(2,807,697)
YOH SOLUTIONS LTD
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021
31 December 2021
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 4 August 2022 and are signed on its behalf by:
Mr. J.  Comito III
Director
Company Registration No. 04585332
The notes on pages 5 to 11 form part of these financial statements
YOH SOLUTIONS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2020
1,800
200
(2,535,932)
(2,533,932)
Year ended 31 December 2020:
Loss and total comprehensive income for the year
-
-
(273,765)
(273,765)
Balance at 31 December 2020
1,800
200
(2,809,697)
(2,807,697)
Year ended 31 December 2021:
Loss and total comprehensive income for the year
-
-
(108,176)
(108,176)
Balance at 31 December 2021
1,800
200
(2,917,873)
(2,915,873)
The notes on pages 5 to 11 form part of these financial statements
YOH SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 5 -
1
Accounting policies
Company information

Yoh Solutions Ltd (04585332) is a private company limited by shares incorporated in England and Wales. The registered office is Arena Business Centre, 100 Berkshire Place, Winnersh, Wokingham, RG41 5RD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors of the company have carefully considered the funding requirements of the company for the foreseeable future. The directors' assessment suggests there will be an increase in the trading activity for Yoh Solutions Ltd over the next 12 months and together with further funding provided by the parent company, Yoh Services LLC, the company is forecasting that it can continue to operate for the foreseeable future.

 

The company meets its day to day working capital requirements through cash reserves and a group credit facility provided by Day & Zimmermann Group Inc., the company's ultimate controlling party. The company expects to receive ongoing financial support for the foreseeable future.

 

The directors have further considered the continued impact of COVID-19 on the operations and financial position of the company.

 

The directors are confident that the company has adequate resources to continue operating for the foreseeable future and accordingly they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

 

Should the assumptions referred to above prove to be invalid, the going concern basis may also be invalid and, accordingly, adjustments may have to be made to the value of assets to their realisable amounts, to provide for any further liabilities which might arise and to reclassify all fixed assets and long term liabilities as current assets and current liabilities respectively.

 

 

YOH SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 6 -
1.3
Turnover

Turnover represents the amounts, excluding Value Added Tax, derived from the provision of services to third party customers during the period.

 

Contractor revenue is recognised as work is carried out on the following basis:

 

Permanent placement fees are recognised in the period in which the candidate commences their new employment.

 

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold Property
7-10 years straight line
Plant and machinery
3-5 years straight line
Fixtures, fittings & equipment
7 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

YOH SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 7 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement 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 classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

 

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

YOH SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 8 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

YOH SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 9 -
1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Operating loss
2021
2020
Operating loss for the year is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
13,650
13,000
Depreciation of owned tangible fixed assets
-
0
17,075
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2021
2020
Number
Number
Total
122
188
4
Taxation

At 31st December 2021 the company had £4,026,575 (2020 - £3,912,845) of tax losses available for future use.

5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
540,078
621,766
Amounts owed by group undertakings
115,643
-
0
Other debtors
5,289
5,289
Prepayments and accrued income
220,825
125,831
881,835
752,886
YOH SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 10 -
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
34,487
21,674
Taxation and social security
134,039
314,624
Other creditors
17,750
13,962
Accruals and deferred income
334,482
524,475
520,758
874,735
7
Creditors: amounts falling due after more than one year
2021
2020
Notes
£
£
Other borrowings
3,455,420
3,418,787

Included in the other creditors due in more than one year is an amount of £950,686 (2020 - £916,500) owed to Yoh Services LLC and £2,504,734 (2019 - £2,502,287) owed to Day & Zimmermann, who are both related company's. These loans are subject to interest at 8% on net assets less cash of the company. This will not be charged until the company is profitable.

8
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of 1p each
150,000
150,000
1,500
1,500
Ordinary B of 1p each
300
300
300
300
150,300
150,300
1,800
1,800

The share classes are ranked pari passu.

9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

YOH SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
9
Audit report information
(Continued)
- 11 -
The senior statutory auditor was Michelle Hewitt-Dutton FCCA.
The auditor was Verallo (formerly Taylorcocks Thames Valley LLP).
10
Turnover

During the year the company acted as an agent. If the company were the principal company completing the transaction turnover would for the year would amount to £6,301,037 (2020 - £8,397,683).

11
Operating lease commitments
Lessee

 

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2021
2020
£
£
Within one year
6,612
6,612
6,612
6,612
12
Related party transactions

The company has taken advantage of the exemption available in FRS 102 s33.1a "Related party disclosures" whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

13
Ultimate parent company

The company's ultimate parent company and controlling party in the current and previous year was Day & Zimmermann Group Inc, a company incorporated in the United States of America.

2021-12-312021-01-01false08 August 2022CCH SoftwareCCH Accounts Production 2022.100No description of principal activityThis audit opinion is unqualifiedMr Emmett McGrathMr. J.  Comito IIIMr. S. Fast045853322021-01-012021-12-3104585332bus:Director32021-01-012021-12-3104585332bus:Director42021-01-012021-12-3104585332bus:CompanySecretaryDirector12021-01-012021-12-3104585332bus:Director12021-01-012021-12-3104585332bus:Director22021-01-012021-12-3104585332bus:CompanySecretary12021-01-012021-12-3104585332bus:RegisteredOffice2021-01-012021-12-31045853322021-12-31045853322020-12-3104585332core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3104585332core:CurrentFinancialInstrumentscore:WithinOneYear2020-12-3104585332core:Non-currentFinancialInstrumentscore:AfterOneYear2021-12-3104585332core:Non-currentFinancialInstrumentscore:AfterOneYear2020-12-3104585332core:ShareCapital2021-12-3104585332core:ShareCapital2020-12-3104585332core:CapitalRedemptionReserve2021-12-3104585332core:CapitalRedemptionReserve2020-12-3104585332core:RetainedEarningsAccumulatedLosses2021-12-3104585332core:RetainedEarningsAccumulatedLosses2020-12-3104585332core:ShareCapital2019-12-3104585332core:CapitalRedemptionReservecore:RestatedAmount2019-12-3104585332core:RetainedEarningsAccumulatedLosses2019-12-31045853322019-12-3104585332core:ShareCapitalOrdinaryShares2021-12-3104585332core:ShareCapitalOrdinaryShares2020-12-3104585332core:RetainedEarningsAccumulatedLosses2020-01-012020-12-31045853322020-01-012020-12-3104585332core:RetainedEarningsAccumulatedLosses2021-01-012021-12-3104585332core:LandBuildingscore:LeasedAssetsHeldAsLessee2021-01-012021-12-3104585332core:PlantMachinery2021-01-012021-12-3104585332core:FurnitureFittings2021-01-012021-12-3104585332core:OwnedAssets2021-01-012021-12-3104585332core:OwnedAssets2020-01-012020-12-3104585332core:CurrentFinancialInstruments2021-12-3104585332core:CurrentFinancialInstruments2020-12-3104585332core:Non-currentFinancialInstruments2021-12-3104585332core:Non-currentFinancialInstruments2020-12-3104585332core:WithinOneYear2021-12-3104585332core:WithinOneYear2020-12-3104585332bus:PrivateLimitedCompanyLtd2021-01-012021-12-3104585332bus:SmallCompaniesRegimeForAccounts2021-01-012021-12-3104585332bus:FRS1022021-01-012021-12-3104585332bus:Audited2021-01-012021-12-3104585332bus:FullAccounts2021-01-012021-12-31xbrli:purexbrli:sharesiso4217:GBP