REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 |
FOR |
YELLOWBUS SOLUTIONS LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 |
FOR |
YELLOWBUS SOLUTIONS LTD |
YELLOWBUS SOLUTIONS LTD (REGISTERED NUMBER: 04104813) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st December 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
YELLOWBUS SOLUTIONS LTD |
COMPANY INFORMATION |
for the Year Ended 31st December 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
1 City Road East |
Manchester |
M15 4PN |
YELLOWBUS SOLUTIONS LTD (REGISTERED NUMBER: 04104813) |
BALANCE SHEET |
31st December 2021 |
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
Retained earnings |
YELLOWBUS SOLUTIONS LTD (REGISTERED NUMBER: 04104813) |
BALANCE SHEET - continued |
31st December 2021 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
YELLOWBUS SOLUTIONS LTD (REGISTERED NUMBER: 04104813) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st December 2021 |
1. | STATUTORY INFORMATION |
Yellowbus Solutions Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 04104813. The address of the registered office and principle place of business is Pennine House, Salford Street, Bury BL9 6YA. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of value added tax and trade discounts. Turnover principally consists of IT support which are recognised at the point of which the goods and/or services are provided. |
Goodwill |
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated ecologic life of 4 years. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following method |
Fixtures & fittings | 15% reducing balance |
Motor vehicles | 25% reducing balance |
Computer equipment | 20% reducing balance |
At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
YELLOWBUS SOLUTIONS LTD (REGISTERED NUMBER: 04104813) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2021 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first out (FIFO) method. |
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell: the impairment loss is recognised immediately in the profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 year 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. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks. Any bank overdrafts are shown within current liabilities. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
YELLOWBUS SOLUTIONS LTD (REGISTERED NUMBER: 04104813) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2021 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st January 2021 |
and 31st December 2021 |
AMORTISATION |
At 1st January 2021 |
Charge for year |
At 31st December 2021 |
NET BOOK VALUE |
At 31st December 2021 |
At 31st December 2020 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st January 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st December 2021 |
DEPRECIATION |
At 1st January 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31st December 2021 |
NET BOOK VALUE |
At 31st December 2021 |
At 31st December 2020 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
YELLOWBUS SOLUTIONS LTD (REGISTERED NUMBER: 04104813) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | SECURED DEBTS |
Bank loans and overdrafts are secured by a Debenture facilitated by HSBC Bank PLC, taken on 4 November 2005, this was satisfied after the year end on 16 March 2021. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: |
Class |
Nominal Value: |
2021 |
2020 |
£ | £ |
100,000 | Ordinary | £0.01 | 1,000 | 1,000 |
17,682 | Ordinary B | £0.01 | 177 | 59 |
200 | Ordinary C | £0.01 | 2 | 2 |
1,179 | 1,061 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | ULTIMATE CONTROLLING PARTY |
The company's ultimate parent is Nycomm Holdings Limited, incorporated in England and Wales. The parent company of the largest and smallest group that includes the company and for which group financial statements are prepared is Nycomm Holdings Limited. Consolidated financial statements of the group can be requested from Nycomm Holdings Limited, Pennine House, Salford Street, Bury, BL9 6YA. |