REGISTERED NUMBER: |
YUCO PROPERTIES LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
23 FEBRUARY 2022 TO 31 MARCH 2023 |
REGISTERED NUMBER: |
YUCO PROPERTIES LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
23 FEBRUARY 2022 TO 31 MARCH 2023 |
YUCO PROPERTIES LTD (REGISTERED NUMBER: 13935955) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 23 February 2022 to 31 March 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
YUCO PROPERTIES LTD |
COMPANY INFORMATION |
for the Period 23 February 2022 to 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 Imperial Court |
Laporte Way |
Luton |
Bedfordshire |
LU4 8FE |
YUCO PROPERTIES LTD (REGISTERED NUMBER: 13935955) |
STATEMENT OF FINANCIAL POSITION |
31 March 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 | ( |
) |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up, paid and allotted share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
YUCO PROPERTIES LTD (REGISTERED NUMBER: 13935955) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 23 February 2022 to 31 March 2023 |
1. | STATUTORY INFORMATION |
Yuco Properties Ltd 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. |
The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Intangible fixed assets |
Negative goodwill arose on the acquisition of the investment properties during the year ended 31 March 2023. Under FRS 102, the negative goodwill is recognised in the income statement in the periods expected to be benefited. The rate of amortisation of the negative goodwill is 4%. |
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 |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
YUCO PROPERTIES LTD (REGISTERED NUMBER: 13935955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 23 February 2022 to 31 March 2023 |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
Additions - negative goodwill | ( |
) |
At 31 March 2023 | ( |
) |
AMORTISATION |
Charge for period | ( |
) |
At 31 March 2023 | ( |
) |
NET BOOK VALUE |
At 31 March 2023 | ( |
) |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
Investment properties were valued on an open market basis on 31 March 2023 by the directors. |
If investment properties had not been revalued they would have been included at historical cost totalling £446,000. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Taxation and social security |
Other creditors |
YUCO PROPERTIES LTD (REGISTERED NUMBER: 13935955) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 23 February 2022 to 31 March 2023 |
9. | CALLED UP, PAID AND ALLOTTED SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 300 |
Ordinary A | £1 | 1 |
Ordinary B | £1 | 1 |
Ordinary C | £1 | 1 |
Ordinary D | £1 | 1 |
1 | Ordinary E | £1 | 1 |
305 |
The following shares were issued during the period for cash at par : |
300 Ordinary shares of £1 |
1 Ordinary A share of £1 |
1 Ordinary B share of £1 |
1 Ordinary C share of £1 |
1 Ordinary D share of £1 |
1 Ordinary E share of £1 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 31 March 2023: |
£ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid |
Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
11. | RELATED PARTY DISCLOSURES |
The directors operate a loan account with the company, which is interest free and repayable on demand. Transactions of which can be found in the table above. |