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REGISTERED NUMBER: 11826052 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Yard Space (Wales) Limited

Yard Space (Wales) Limited (Registered number: 11826052)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Yard Space (Wales) Limited

Company Information
for the Year Ended 28 February 2023







Director: D D Jones





Registered office: Unit 5 Colomendy Industrial Estate
Denbigh
LL16 5TA





Registered number: 11826052 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Yard Space (Wales) Limited (Registered number: 11826052)

Statement of Financial Position
28 February 2023

28/2/23 28/2/22
Notes £    £    £    £   
Fixed assets
Investment property 4 2,223,905 2,100,000

Current assets
Debtors 5 245 17,058
Cash at bank 1,611 25,488
1,856 42,546
Creditors
Amounts falling due within one year 6 881,993 795,710
Net current liabilities (880,137 ) (753,164 )
Total assets less current liabilities 1,343,768 1,346,836

Provisions for liabilities 338,523 338,523
Net assets 1,005,245 1,008,313

Capital and reserves
Called up share capital 7 100 100
Other reserves 8 1,015,568 1,015,568
Retained earnings 8 (10,423 ) (7,355 )
Shareholders' funds 1,005,245 1,008,313

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Yard Space (Wales) Limited (Registered number: 11826052)

Statement of Financial Position - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 November 2023 and were signed by:





D D Jones - Director


Yard Space (Wales) Limited (Registered number: 11826052)

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

1. Statutory information

Yard Space (Wales) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

Yard Space (Wales) Limited (Registered number: 11826052)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. Investment property
Total
£   
Fair value
At 1 March 2022 2,100,000
Additions 123,905
At 28 February 2023 2,223,905
Net book value
At 28 February 2023 2,223,905
At 28 February 2022 2,100,000


5. Debtors: amounts falling due within one year
28/2/23 28/2/22
£    £   
Other debtors 245 17,058

6. Creditors: amounts falling due within one year
28/2/23 28/2/22
£    £   
Trade creditors - 750
Other creditors 881,993 794,960
881,993 795,710

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 28/2/23 28/2/22
value: £    £   
52 'A' shares £1 52 52
48 'B' shares £1 48 48
100 100

Yard Space (Wales) Limited (Registered number: 11826052)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. Reserves
Retained Other
earnings reserves Totals
£    £    £   

At 1 March 2022 (7,355 ) 1,015,568 1,008,213
Deficit for the year (3,068 ) (3,068 )
At 28 February 2023 (10,423 ) 1,015,568 1,005,145

Under FRS 102 surpluses on the revaluation of investment property are treated as fair value adjustments and are recognised in the statement of income. However under company law, these surpluses are not distributable. In these financial statements, the cumulative non-distributable revaluation surpluses net of deferred tax have been included in other reserves. On disposal of an investment property, any revaluation surplus realised on disposal is transferred to distributable reserves.

9. Related party disclosures

The director has made loans to the company. The balance on these loans at 28 February 2023 was £310,330 (2022 - £395,330). The loans are interest-free and repayable on demand.