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Registered Number: 09932556


 

 

 

Y&I PROPERTIES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 1,510,000    1,510,000 
1,510,000    1,510,000 
Current assets      
Cash at bank and in hand 57,313    38,774 
Creditors: amount falling due within one year (67,078)   (28,744)
Net current liabilities (9,765)   10,030 
 
Total assets less current liabilities 1,500,235    1,520,030 
Creditors: amount falling due after more than one year (1,278,370)   (1,331,018)
Accruals and deferred income (2,626)   (2,625)
Net assets 219,239    186,387 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 219,139    186,287 
Shareholder's funds 219,239    186,387 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 director on 27 October 2023 and were signed by:


-------------------------------
Imran Khaliq
Director
1
General Information
Y&I Properties Limited is a private company, limited by shares, registered in , registration number 09932556, registration address Gainford House, Chester Le Street, Durham, DH3 3SR.

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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and 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.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
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
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
2.

Staff Costs

2023   2022
 
Average number of employees during the year Number   Number
Administration 2    2 
 

3.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
4.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 April 2022 1,510,000    1,510,000 
Additions  
Disposals  
At 31 March 2023 1,510,000    1,510,000 
Depreciation
At 01 April 2022  
Charge for year  
On disposals  
At 31 March 2023  
Net book values
Closing balance as at 31 March 2023 1,510,000    1,510,000 
Opening balance as at 01 April 2022 1,510,000    1,510,000 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

2