REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
YORKSHIRE IN BUSINESS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
YORKSHIRE IN BUSINESS LTD |
YORKSHIRE IN BUSINESS LTD (REGISTERED NUMBER: 01982116) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
YORKSHIRE IN BUSINESS LTD |
COMPANY INFORMATION |
For The Year Ended 31 March 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Business Advisors & Accountants |
5&6 Manor Court |
Manor Garth |
Scarborough |
North Yorkshire |
YO11 3TU |
YORKSHIRE IN BUSINESS LTD (REGISTERED NUMBER: 01982116) |
BALANCE SHEET |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
ACCRUALS AND DEFERRED INCOME |
NET ASSETS |
RESERVES |
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. |
YORKSHIRE IN BUSINESS LTD (REGISTERED NUMBER: 01982116) |
BALANCE SHEET - continued |
31 March 2023 |
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 |
YORKSHIRE IN BUSINESS LTD (REGISTERED NUMBER: 01982116) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Yorkshire In Business Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The level of rounding used in the financial statements is to the nearest £1. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Yorkshire In Business Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures, fittings & equipment | - |
Computer & office equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date. |
YORKSHIRE IN BUSINESS LTD (REGISTERED NUMBER: 01982116) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Going concern accounting policy |
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. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
Government grants |
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
YORKSHIRE IN BUSINESS LTD (REGISTERED NUMBER: 01982116) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2023 |
5. | FIXED ASSET INVESTMENTS |
2023 | 2022 |
£ | £ |
Shares in group undertakings |
Loans to group undertakings |
Additional information is as follows: |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Loans to |
group |
undertakings |
£ |
At 1 April 2022 |
New in year |
Repayment in year | ( |
) |
At 31 March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
YORKSHIRE IN BUSINESS LTD (REGISTERED NUMBER: 01982116) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Creditors within one year | 31,784 | 82,350 |
Government grant | 388,500 | 388,500 |
The company has entered into an unlimited guarantee with its subsidiary, Yorkshire Coast Workshops Limited, to secure all the liabilities of each other. |
9. | CONTINGENT LIABILITIES |
The company has a unilateral guarantee with its subsidiary company, Yorkshire Coast Workshops Limited, to guarantee the liabilities of each other. The current and long term liabilities of the subsidiary at the year end is £205,657 excluding amounts due to the parent company. |
10. | LIMITED BY GUARANTEE |
The company is limited by guarantee and does not have a share capital. |
The liability of the members in the event of the company being liquidated is limited to £1 per member. |