Company No:
Contents
DIRECTORS | Mr R J Heath |
Mrs C V Million | |
Mr J Million |
SECRETARY | Mrs C V Million |
REGISTERED OFFICE | 4325 Park Approach |
Thorpe Park | |
Leeds | |
LS15 8GB | |
United Kingdom |
COMPANY NUMBER | 05124108 (England and Wales) |
CHARTERED ACCOUNTANTS | Murray Harcourt Partners LLP |
6 Queen Street | |
Leeds | |
LS1 2TW |
Note | 2021 | 2020 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 4 |
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Tangible assets | 5 |
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1,314,619 | 1,242,781 | |||
Current assets | ||||
Stocks | 6 |
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Debtors | 7 |
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Cash at bank and in hand |
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1,875,709 | 1,575,204 | |||
Creditors | ||||
Amounts falling due within one year | 8 | (
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Net current assets | 328,334 | 427,739 | ||
Total assets less current liabilities | 1,642,953 | 1,670,520 | ||
Creditors | ||||
Amounts falling due after more than one year | 9 | (
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Provision for liabilities | 10 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 11 |
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Revaluation reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Blue Yonder Research Limited (registered number:
Mr J Million
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Blue Yonder Research Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4325 Park Approach, Thorpe Park, Leeds, LS15 8GB , United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Directors’ Report.
The Company's forecasts and projections, taking account of the continued possible impact of COVID-19 in trading performance, show that the company should be able to operate within the level of its current facilities.
Therefore, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Other intangible assets |
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Land and buildings |
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Plant and machinery etc. | 20 -
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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.
The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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2021 | 2020 | ||
£ | £ | ||
Amounts recognised as distributions to equity holders in the financial year: | |||
Final dividend for the financial year ended 31 December 2021 of £19.7848 (2020: £19.1782) per ordinary share | 197,848 | 191,782 | |
Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2021 |
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Additions |
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At 31 December 2021 |
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Accumulated amortisation | |||
At 01 January 2021 |
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Charge for the financial year |
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At 31 December 2021 |
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Net book value | |||
At 31 December 2021 |
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At 31 December 2020 |
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Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2021 |
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Additions |
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Disposals |
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At 31 December 2021 |
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Accumulated depreciation | |||||
At 01 January 2021 |
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Charge for the financial year |
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Disposals |
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At 31 December 2021 |
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Net book value | |||||
At 31 December 2021 |
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At 31 December 2020 |
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Revaluation of tangible assets
2021 | 2020 | ||
£ | £ | ||
Historical cost | 844,426 | 774,755 | |
Accumulated depreciation | (58,587) | (42,626) | |
Carrying value |
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The company purchased a second property in July 2020 at a cost of £465,485. The directors are of the opinion that the value at 31 December 2021 has not changed form the total cost of purchase.
2021 | 2020 | ||
£ | £ | ||
Stocks |
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2021 | 2020 | ||
£ | £ | ||
Trade debtors |
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Corporation tax |
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Other debtors |
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2021 | 2020 | ||
£ | £ | ||
Bank loans and overdrafts |
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Trade creditors |
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Other creditors |
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Other taxation and social security |
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2021 | 2020 | ||
£ | £ | ||
Bank loans |
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Other creditors |
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488,898 | 589,177 |
The amount due within one year is £181,609 (2020 - £296,531) and over one year is £323,898 (2020 - £364,177)
Creditors include bank loans repayable by instalments of £163,982 (2020 - £205,261) due after more than five years
2021 | 2020 | ||
£ | £ | ||
Deferred tax |
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2021 | 2020 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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109 | 100 |
The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.
Transactions with the entity’s directors (or members of its governing body)
Amounts owed to directors
2021 | 2020 | ||
£ | £ | ||
Creditors: due within one year - Amounts owed to directors - Director 1 | 19,292 | 40,048 | |
Creditors: due within one year - Amounts owed to directors - Director 2 | 5,741 | 0 | |
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