Silverfin false 30/04/2023 01/05/2022 30/04/2023 N Kalms 31/03/2015 B Radstone 31/03/2015 20 October 2023 The principal activity of YSP Housing Ltd ("the Company") is that of property investment. 09366642 2023-04-30 09366642 bus:Director1 2023-04-30 09366642 bus:Director2 2023-04-30 09366642 2022-04-30 09366642 core:CurrentFinancialInstruments 2023-04-30 09366642 core:CurrentFinancialInstruments 2022-04-30 09366642 core:Non-currentFinancialInstruments 2023-04-30 09366642 core:Non-currentFinancialInstruments 2022-04-30 09366642 core:ShareCapital 2023-04-30 09366642 core:ShareCapital 2022-04-30 09366642 core:RevaluationReserve 2023-04-30 09366642 core:RevaluationReserve 2022-04-30 09366642 core:RetainedEarningsAccumulatedLosses 2023-04-30 09366642 core:RetainedEarningsAccumulatedLosses 2022-04-30 09366642 core:CostValuation 2022-04-30 09366642 core:CostValuation 2023-04-30 09366642 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2023-04-30 09366642 core:FurtherRelatedPartyRelationshipType2ComponentAllOtherRelatedParties core:CurrentFinancialInstruments 2022-04-30 09366642 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-04-30 09366642 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-04-30 09366642 core:Non-currentFinancialInstruments core:BetweenOneTwoYears 2023-04-30 09366642 core:Non-currentFinancialInstruments core:BetweenOneTwoYears 2022-04-30 09366642 core:Non-currentFinancialInstruments core:BetweenTwoFiveYears 2023-04-30 09366642 core:Non-currentFinancialInstruments core:BetweenTwoFiveYears 2022-04-30 09366642 core:Non-currentFinancialInstruments core:MoreThanFiveYears 2023-04-30 09366642 core:Non-currentFinancialInstruments core:MoreThanFiveYears 2022-04-30 09366642 core:Non-currentFinancialInstruments core:WithinOneYear 2023-04-30 09366642 core:Non-currentFinancialInstruments core:WithinOneYear 2022-04-30 09366642 2021-04-30 09366642 core:RevaluationInvestmentPropertyDeferredTax 2023-04-30 09366642 core:RevaluationInvestmentPropertyDeferredTax 2022-04-30 09366642 bus:OrdinaryShareClass1 2023-04-30 09366642 2022-05-01 2023-04-30 09366642 bus:FullAccounts 2022-05-01 2023-04-30 09366642 bus:SmallEntities 2022-05-01 2023-04-30 09366642 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 09366642 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 09366642 bus:Director1 2022-05-01 2023-04-30 09366642 bus:Director2 2022-05-01 2023-04-30 09366642 2021-05-01 2022-04-30 09366642 core:CurrentFinancialInstruments 2022-05-01 2023-04-30 09366642 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 09366642 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 09366642 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09366642 (England and Wales)

YSP HOUSING LTD

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

YSP HOUSING LTD

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

YSP HOUSING LTD

STATEMENT OF FINANCIAL POSITION

As at 30 April 2023
YSP HOUSING LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 880,609 880,609
Investments 4 100 100
880,709 880,709
Current assets
Debtors 5 87,249 96,145
Cash at bank and in hand 13,787 10,904
101,036 107,049
Creditors: amounts falling due within one year 6 ( 12,701) ( 21,812)
Net current assets 88,335 85,237
Total assets less current liabilities 969,044 965,946
Creditors: amounts falling due after more than one year 7 ( 670,920) ( 667,864)
Provision for liabilities 8 ( 37,667) ( 28,627)
Net assets 260,457 269,455
Capital and reserves
Called-up share capital 9 100 100
Revaluation reserve 112,999 122,039
Profit and loss account 147,358 147,316
Total shareholders' funds 260,457 269,455

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 YSP Housing Ltd (registered number: 09366642) 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

YSP HOUSING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
YSP HOUSING LTD

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

YSP Housing Ltd (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 35 Ballards Lane, London, N3 1XW, 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 principal activity of YSP Housing Ltd ("the Company") is that of property investment.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

The fair value is determined annually by the directors, on an open market value for existing use basis.

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.

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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 880,609
As at 30 April 2023 880,609

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 729,943 729,943

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 May 2022 100
At 30 April 2023 100
Carrying value at 30 April 2023 100
Carrying value at 30 April 2022 100

5. Debtors

2023 2022
£ £
Trade debtors 544 1,585
Amounts owed by connected companies 9,055 3,945
Amounts owed by related parties 75,550 88,515
Other debtors 2,100 2,100
87,249 96,145

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

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 5,556 14,167
Amounts owed to related parties 4,145 4,045
Accruals 3,000 3,600
12,701 21,812

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

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

2023 2022
£ £
Bank loans and overdrafts 670,920 667,864

The bank loan is secured by a fixed and floating charge over the assets of the company.

Bank loans
2023 2022
£ £
Between one and two years 5,556 10,000
Between two and five years 29,167 21,667
After five years 636,197 636,197
670,920 667,864
On demand or within one year 5,556 14,167
676,476 682,031

8. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 28,627) ( 28,627)
Charged to the Profit and Loss Account ( 9,040) 0
At the end of financial year ( 37,667) ( 28,627)

The deferred taxation balance is made up as follows:

2023 2022
£ £
Revaluation of investment property ( 37,667) ( 28,627)

9. Called-up share capital

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

10. Related party transactions

Where possible, the company 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 is a balance of £84,605 (2022: £92,560) owed by companies in which the directors have an interest either as directors or participators. The balance is unsecured and interest free with no fixed repayment terms.

Included within other creditors are balances totalling £4,145 (2022: £4,145) 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.