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Registered Number: 10615349
England and Wales

 

 

 

YOUNG PEOPLE FIRST LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
Report to the directors on the preparation of the unaudited statutory accounts of Young People First Limited for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Young People First Limited for the year ended 28 February 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of Young People First Limited, as a body, in accordance with the terms of our engagement letter dated 09 November 2023 . Our work has been undertaken solely to prepare for your approval the accounts of Young People First Limited and state those matters that we have agreed to state to the Board of Directors of Young People First Limited, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Young People First Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Young People First Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Young People First Limited.You consider that Young People First Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of Young People First Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 28 February 2023.



....................................................
Akhter's Limited
64
Castle Boulevard
Nottingham
Nottinghamshire
NG7 1FN
09 November 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 23,184    19,461 
23,184    19,461 
Current assets      
Debtors: amounts falling due within one year 139,526    116,776 
Cash at bank and in hand 135,424    196,045 
274,950    312,821 
Creditors: amount falling due within one year (124,298)   (112,112)
Net current assets 150,652    200,709 
 
Total assets less current liabilities 173,836    220,170 
Creditors: amount falling due after more than one year (38,332)   (48,333)
Provisions for liabilities (1,341)   1,848 
Net assets 134,163    173,685 
 

Capital and reserves
     
Called up share capital 4 625    625 
Profit and loss account 133,538    173,060 
Shareholder's funds 134,163    173,685 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 09 November 2023 and were signed on its behalf by:


-------------------------------
MAHMOOD & SONS LIMITED
Director
-------------------------------
Hamza Mahmood
Director
2
General Information
Young People First Limited is a private company, limited by shares, registered in England and Wales, registration number 10615349, registration address Room T-8, Technology Wing, Howitt Building Lenton Business Centre, Nottingham, NG7 2BY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of any  trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 38 (2022 : 25).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 March 2022 41,237    41,237 
Additions 8,252    8,252 
Disposals  
Revaluations (11,244)   (11,244)
At 28 February 2023 38,245    38,245 
Depreciation
At 01 March 2022 10,532    10,532 
Charge for year 4,529    4,529 
On disposals  
At 28 February 2023 15,061    15,061 
Net book values
Closing balance as at 28 February 2023 23,184    23,184 
Opening balance as at 01 March 2022 19,461    19,461 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
625 Class A shares of £1.00 each 625    625 
625    625 

3