Yarwood Cutting Concepts Limited 3819064 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is Leather processing Digita Accounts Production Advanced 6.30.9574.0 true true true 3819064 2022-03-01 2023-02-28 3819064 2023-02-28 3819064 bus:OrdinaryShareClass1 2023-02-28 3819064 bus:Original 2023-02-28 3819064 core:RetainedEarningsAccumulatedLosses 2023-02-28 3819064 core:ShareCapital 2023-02-28 3819064 core:CurrentFinancialInstruments 2023-02-28 3819064 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 3819064 core:OtherPropertyPlantEquipment 2023-02-28 3819064 bus:SmallEntities 2022-03-01 2023-02-28 3819064 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 3819064 bus:FullAccounts 2022-03-01 2023-02-28 3819064 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 3819064 bus:RegisteredOffice 2022-03-01 2023-02-28 3819064 bus:Director1 2022-03-01 2023-02-28 3819064 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 3819064 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 3819064 core:FurnitureFittings 2022-03-01 2023-02-28 3819064 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 3819064 core:PlantMachinery 2022-03-01 2023-02-28 3819064 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-03-01 2023-02-28 3819064 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2022-03-01 2023-02-28 3819064 1 2022-03-01 2023-02-28 3819064 countries:England 2022-03-01 2023-02-28 3819064 2022-02-28 3819064 core:OtherPropertyPlantEquipment 2022-02-28 3819064 2021-03-01 2022-02-28 3819064 2022-02-28 3819064 bus:OrdinaryShareClass1 2022-02-28 3819064 core:RetainedEarningsAccumulatedLosses 2022-02-28 3819064 core:ShareCapital 2022-02-28 3819064 core:CurrentFinancialInstruments 2022-02-28 3819064 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 3819064 core:OtherPropertyPlantEquipment 2022-02-28 3819064 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity core:SaleOrPurchaseGoods 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 3819064

Yarwood Cutting Concepts Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Yarwood Cutting Concepts Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Yarwood Cutting Concepts Limited

(Registration number: 3819064)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

-

7,947

Current assets

 

Stocks

6

14,026

11,137

Debtors

7

67,723

119,139

Cash at bank and in hand

 

47,717

9,976

 

129,466

140,252

Creditors: Amounts falling due within one year

8

(104,851)

(209,771)

Net current assets/(liabilities)

 

24,615

(69,519)

Net assets/(liabilities)

 

24,615

(61,572)

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

24,613

(61,574)

Shareholders' funds/(deficit)

 

24,615

(61,572)

For the financial year ending 28 February 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 November 2023 and signed on its behalf by:
 

 

Yarwood Cutting Concepts Limited

(Registration number: 3819064)
Balance Sheet as at 28 February 2023

.........................................
Mrs Catherine Dixon
Director

 

Yarwood Cutting Concepts Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Treefield Industrial Estate
Gelderd Road
Gildersome
Leeds
West Yorkshire
LS27 7JU
England

These financial statements were authorised for issue by the Board on 8 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis which assumes continued support within the group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Yarwood Cutting Concepts Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

14 to 20 % on cost

Fixtures and fittings

33.33 % on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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 profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Yarwood Cutting Concepts Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

7,946

29,947

 

Yarwood Cutting Concepts Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2022

319,231

319,231

At 28 February 2023

319,231

319,231

Depreciation

At 1 March 2022

311,284

311,284

Charge for the year

7,947

7,947

At 28 February 2023

319,231

319,231

Carrying amount

At 28 February 2023

-

-

At 28 February 2022

7,947

7,947

6

Stocks

2023
£

2022
£

Raw materials and consumables

14,026

11,137

7

Debtors

Current

2023
£

2022
£

Trade debtors

67,675

32,710

Prepayments

48

2,560

Other debtors

-

83,869

 

67,723

119,139

8

Creditors

Creditors: amounts falling due within one year

 

Yarwood Cutting Concepts Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

4,362

4,722

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

83,050

197,826

Taxation and social security

 

8,379

5,343

Accruals and deferred income

 

1,900

1,880

Other creditors

 

7,160

-

 

104,851

209,771

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

10

Related party transactions

Summary of transactions with entities with joint control or significant interest

Yarwood Leather Limited
 

Expenditure with and payables to related parties

2023

Entities with joint control or significant influence
£

Purchase of goods

208,523

2022

Entities with joint control or significant influence
£

Purchase of goods

130,115

 

Yarwood Cutting Concepts Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

11

Parent and ultimate parent undertaking

The ultimate controlling party is Yarwood 2000 Limited.