29 May 2022 v2023.23.2 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP076400672022-05-292023-05-28076400672023-05-28076400672022-05-2807640067core:WithinOneYear2023-05-2807640067core:WithinOneYear2022-05-2807640067core:AfterOneYear2023-05-2807640067core:AfterOneYear2022-05-2807640067core:ShareCapital2023-05-2807640067core:ShareCapital2022-05-2807640067core:RetainedEarningsAccumulatedLosses2023-05-2807640067core:RetainedEarningsAccumulatedLosses2022-05-2807640067bus:Director12022-05-292023-05-2807640067bus:RegisteredOffice2022-05-292023-05-2807640067core:NetGoodwill2022-05-292023-05-2807640067core:FurnitureFittings2022-05-292023-05-28076400672021-06-012022-05-2807640067core:NetGoodwill2023-05-2807640067core:NetGoodwill2022-05-2807640067core:PlantMachinery2022-05-2907640067core:PlantMachinery2022-05-292023-05-2807640067core:PlantMachinery2023-05-2807640067core:PlantMachinery2022-05-280764006712022-05-292023-05-2807640067countries:EnglandWales2022-05-292023-05-2807640067bus:AuditExemptWithAccountantsReport2022-05-292023-05-2807640067bus:PrivateLimitedCompanyLtd2022-05-292023-05-2807640067bus:SmallEntities2022-05-292023-05-2807640067bus:FullAccounts2022-05-292023-05-28
Company registration number:
07640067
Yorkshire Aquatic Supplies Limited
Unaudited Filleted Financial Statements for the year ended
28 May 2023
G&T Accountancy Services Limited
Chartered Certified Accountants
Unit 1B Denby Dale Business Park, Wakefield Road, Huddersfield, West Yorkshire, HD8 8QH, United Kingdom
Yorkshire Aquatic Supplies Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Yorkshire Aquatic Supplies Limited
Year ended
28 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Yorkshire Aquatic Supplies Limited
for the year ended
28 May 2023
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Yorkshire Aquatic Supplies Limited
, as a body, in accordance with the terms of my engagement letter dated 15 June 2022. My work has been undertaken solely to prepare for your approval the
financial statements
of
Yorkshire Aquatic Supplies Limited
and state those matters that I have agreed to state to the Board of Directors of
Yorkshire Aquatic Supplies Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Yorkshire Aquatic Supplies Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Yorkshire Aquatic Supplies Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Yorkshire Aquatic Supplies Limited
. You consider that
Yorkshire Aquatic Supplies Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Yorkshire Aquatic Supplies Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
G&T Accountancy Services Limited
Chartered Certified Accountants
Unit 1B Denby Dale Business Park
Wakefield Road
Huddersfield
West Yorkshire
HD8 8QH
United Kingdom
Date:
10 October 2023
Yorkshire Aquatic Supplies Limited
Statement of Financial Position
28 May 2023
20232022
Note££
Fixed assets    
Intangible assets 5
1
 
1
 
Tangible assets 6
1,601
 
2,025
 
1,602
 
2,026
 
Current assets    
Stocks
52,423
 
62,002
 
Debtors 7
79,712
 
53,503
 
Cash at bank and in hand
23,495
 
18,320
 
155,630
 
133,825
 
Creditors: amounts falling due within one year 8
(92,683
)
(83,562
)
Net current assets
62,947
 
50,263
 
Total assets less current liabilities 64,549   52,289  
Creditors: amounts falling due after more than one year 9
(67,656
)
(56,840
)
Provisions for liabilities
(304
)
(249
)
Net liabilities
(3,411
)
(4,800
)
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
(3,511
)
(4,900
)
Shareholders deficit
(3,411
)
(4,800
)
For the year ending
28 May 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
10 October 2023
, and are signed on behalf of the board by:
Mr C Lambrou
Director
Company registration number:
07640067
Yorkshire Aquatic Supplies Limited
Notes to the Financial Statements
Year ended
28 May 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 1B Denby Dale Business Park
,
Wakefield Road, Denby Dale
,
Huddersfield
,
HD8 8QH
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this period.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
9
(2022:
7
).

5 Intangible assets

Goodwill
£
Cost  
At
29 May 2022
and
28 May 2023
1
 
Amortisation  
At
29 May 2022
and
28 May 2023
-  
Carrying amount  
At
28 May 2023
1
 
At 28 May 2022
1
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
29 May 2022
18,391
 
Additions
110
 
At
28 May 2023
18,501
 
Depreciation  
At
29 May 2022
16,366
 
Charge
534
 
At
28 May 2023
16,900
 
Carrying amount  
At
28 May 2023
1,601
 
At 28 May 2022
2,025
 

7 Debtors

20232022
££
Other debtors
79,712
 
53,503
 

8 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
20,004
 
21,855
 
Trade creditors
57,948
 
58,014
 
Taxation and social security
12,134
 
(2,350
)
Other creditors
2,597
 
6,043
 
92,683
 
83,562
 

9 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
67,656
 
56,840
 

11 Controlling party

The company was not under the control of any one individual throughout the current and previous year.