Silverfin false 30/04/2023 01/05/2022 30/04/2023 N Kalms 23/07/2013 B Radstone 23/07/2013 20 October 2023 The principal activity of Youspotproperty.com Limited ("the Company") is that of property traders. 08620615 2023-04-30 08620615 bus:Director1 2023-04-30 08620615 bus:Director2 2023-04-30 08620615 2022-04-30 08620615 core:CurrentFinancialInstruments 2023-04-30 08620615 core:CurrentFinancialInstruments 2022-04-30 08620615 core:Non-currentFinancialInstruments 2023-04-30 08620615 core:Non-currentFinancialInstruments 2022-04-30 08620615 core:ShareCapital 2023-04-30 08620615 core:ShareCapital 2022-04-30 08620615 core:RevaluationReserve 2023-04-30 08620615 core:RevaluationReserve 2022-04-30 08620615 core:RetainedEarningsAccumulatedLosses 2023-04-30 08620615 core:RetainedEarningsAccumulatedLosses 2022-04-30 08620615 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-04-30 08620615 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2022-04-30 08620615 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-04-30 08620615 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-04-30 08620615 core:CurrentFinancialInstruments 1 2023-04-30 08620615 core:CurrentFinancialInstruments 1 2022-04-30 08620615 2021-04-30 08620615 core:RevaluationInvestmentPropertyDeferredTax 2023-04-30 08620615 core:RevaluationInvestmentPropertyDeferredTax 2022-04-30 08620615 bus:OrdinaryShareClass1 2023-04-30 08620615 2022-05-01 2023-04-30 08620615 bus:FullAccounts 2022-05-01 2023-04-30 08620615 bus:SmallEntities 2022-05-01 2023-04-30 08620615 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 08620615 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 08620615 bus:Director1 2022-05-01 2023-04-30 08620615 bus:Director2 2022-05-01 2023-04-30 08620615 2021-05-01 2022-04-30 08620615 core:CurrentFinancialInstruments 2022-05-01 2023-04-30 08620615 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 08620615 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08620615 (England and Wales)

YOUSPOTPROPERTY.COM LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

YOUSPOTPROPERTY.COM LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

YOUSPOTPROPERTY.COM LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2023
YOUSPOTPROPERTY.COM LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 200,000 200,000
200,000 200,000
Current assets
Debtors 4 4,046 60,020
Cash at bank and in hand 53,330 7,053
57,376 67,073
Creditors: amounts falling due within one year 5 ( 19,961) ( 22,736)
Net current assets 37,415 44,337
Total assets less current liabilities 237,415 244,337
Creditors: amounts falling due after more than one year 6 ( 186,521) ( 182,261)
Provision for liabilities 7 ( 20,154) ( 15,317)
Net assets 30,740 46,759
Capital and reserves
Called-up share capital 8 100 100
Revaluation reserve 60,463 65,300
Profit and loss account ( 29,823 ) ( 18,641 )
Total shareholder's funds 30,740 46,759

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Youspotproperty.com Limited (registered number: 08620615) were approved and authorised for issue by the Director. They were signed on its behalf by:

N Kalms
Director
B Radstone
Director

20 October 2023

YOUSPOTPROPERTY.COM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
YOUSPOTPROPERTY.COM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

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.

General information and basis of accounting

Youspotproperty.com Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Englad and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW.

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 principal activity of Youspotproperty.com Limited ("the Company") is that of property traders.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised by the Company in respect of rental income during the year.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
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 Statement of Financial Position 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position 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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 May 2022 200,000
As at 30 April 2023 200,000

Valuation

The 2023 valuations were made by the directors, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 119,382 119,382

4. Debtors

2023 2022
£ £
Amounts owed by connected companies 0 55,977
Amounts owed by related parties 4,046 4,043
4,046 60,020

Amounts owed by connected companies and related parties are unsecured, interest free, have no fixed terms of repayment and are repayable on demand.

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 5,556 14,854
Amounts owed to connected companies 1,670 0
Amounts owed to related parties 10,335 4,868
Accruals 2,400 3,014
19,961 22,736

Amounts owed to connected companies and related parties are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 186,521 182,261

7. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 15,317) 0
Charged to the Profit and Loss Account ( 4,837) ( 15,317)
At the end of financial year ( 20,154) ( 15,317)

The deferred taxation balance is made up as follows:

2023 2022
£ £
Revaluation of investment property ( 20,154) ( 15,317)

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Where possible, the company has taken advantage of the exemption conferred by FRS 102 section 33.1A from the requirement to disclose transactions with other wholly owned group undertakings.

Included within other debtors are balances totalling £4,046 (2022: £60,020) owed by companies in which the directors have an interest as either directors or participators. The balances are unsecured and interest free with no fixed repayment terms.

Included within other creditors are balances totalling £12,005 (2022: £4,868) owed to companies in which the directors have an interest as either directors or participators. The balances are unsecured and interest free with no fixed repayment terms.