2022-04-012023-03-312023-03-31false04683082Village Yokel 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Village Yokel Limited

Registered Number
04683082
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

Village Yokel Limited
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

Mr E C Pilcher
Mrs B A Pilcher

Registered Address

80 Carey Park
Polperro
Looe
PL13 2JP

Registered Number

04683082 (England and Wales)
Village Yokel Limited
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets54,8006,000
Tangible assets6433529
5,2336,529
Current assets
Stocks74,3493,575
Debtors8554493
Cash at bank and on hand3,1052,323
8,0086,391
Creditors amounts falling due within one year9(4,996)(3,442)
Net current assets (liabilities)3,0122,949
Total assets less current liabilities8,2459,478
Net assets8,2459,478
Capital and reserves
Called up share capital100100
Profit and loss account8,1459,378
Shareholders' funds8,2459,478
The financial statements were approved and authorised for issue by the Board of Directors on 24 October 2023, and are signed on its behalf by:
Mr E C Pilcher
Director
Registered Company No. 04683082
Village Yokel Limited
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings10
Intangible assets policy
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year00
5.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2212,00012,000
At 31 March 2312,00012,000
Amortisation and impairment
At 01 April 226,0006,000
Charge for year1,2001,200
At 31 March 237,2007,200
Net book value
At 31 March 234,8004,800
At 31 March 226,0006,000
6.Property, plant and equipment

Plant & machinery

Fixtures & fittings

Total

£££
Cost or valuation
At 01 April 222,0121,7703,782
At 31 March 232,0121,7703,782
Depreciation and impairment
At 01 April 221,7221,5313,253
Charge for year732396
At 31 March 231,7951,5543,349
Net book value
At 31 March 23217216433
At 31 March 22290239529
7.Stocks

2023

2022

££
Raw materials and consumables4,3493,575
Total4,3493,575
8.Debtors

2023

2022

££
Prepayments and accrued income554493
Total554493
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables2938
Taxation and social security718870
Other creditors2,8691,419
Accrued liabilities and deferred income1,3801,115
Total4,9963,442
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.