REGISTERED NUMBER: |
Yieldcroft Limited |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
REGISTERED NUMBER: |
Yieldcroft Limited |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
Yieldcroft Limited (Registered number: 06928317) |
Contents of the Financial Statements |
for the year ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Yieldcroft Limited |
Company Information |
for the year ended 31 March 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
Yieldcroft Limited (Registered number: 06928317) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
Current assets |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 6 |
Capital redemption reserve |
Retained earnings |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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 |
Yieldcroft Limited (Registered number: 06928317) |
Notes to the Financial Statements |
for the year ended 31 March 2023 |
1. | Statutory information |
Yieldcroft Limited is a |
2. | Accounting policies |
Accounting convention |
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. |
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group. |
Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Hence the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
The company meets its day to day working capital requirements through the continued support of the subsidiary company Mountgrange Heritage Limited. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any accumulated impairment losses. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
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. |
Basic financial liabilities |
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. |
Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
Fixed asset investments |
Interests in the subsidiary company are measured at cost less any accumulated impairment losses. |
Yieldcroft Limited (Registered number: 06928317) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
2. | Accounting policies - continued |
Cash and cash equivalents |
Cash and cash equivalents are basic financial assets and include cash in bank and hand. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 April 2022 |
and 31 March 2023 |
Net book value |
At 31 March 2023 |
At 31 March 2022 |
5. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
6. | Called up share capital |
2022 | 2021 | 2022 | 2021 |
Ordinary share capital | Number | Number | £ | £ |
Issued and fully paid |
AE ordinary shares of £1 each | 1 | 1 | 1 | 1 |
B ordinary shares of £1 each | 250 | 250 | 250 | 250 |
C ordinary shares of £1 each | 250 | 250 | 250 | 250 |
D ordinary shares of £1 each | - | 125 | - | 125 |
501 | 626 | 501 | 626 |
7. | Directors' advances, credits and guarantees |
Included in other creditors at the year end was £nil (2022 - £24,159) owed to the directors and shareholders. |
8. | Related party disclosures |
Included in creditors at the year end was £196,768 (2022 - £195,843) owed to a wholly owned subsidiary. |