2022-01-012022-12-312022-12-31false11107166YGL GROUP OF ASSOCIATES 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YGL GROUP OF ASSOCIATES LTD

Registered Number
11107166
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2022

YGL GROUP OF ASSOCIATES LTD
Company Information
for the year from 1 January 2022 to 31 December 2022

Directors

Olubusayo Oluwakoya
Olumuyiwa Oluwakoya

Registered Address

51a Beckenham Road
Beckenham
BR3 4PR

Registered Number

11107166 (England and Wales)
YGL GROUP OF ASSOCIATES LTD
Balance Sheet as at
31 December 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Intangible assets675,00075,000
Tangible assets7875,952884,965
950,952959,965
Current assets
Debtors833,86917,912
Cash at bank and on hand7,42011,439
41,28929,351
Creditors amounts falling due within one year9(179,157)(87,299)
Net current assets (liabilities)(137,868)(57,948)
Total assets less current liabilities813,084902,017
Creditors amounts falling due after one year(761,809)(1,028,396)
Provisions for liabilities(755)-
Net assets50,520(126,379)
Capital and reserves
Called up share capital100100
Profit and loss account50,420(126,479)
Shareholders' funds50,520(126,379)
The financial statements were approved and authorised for issue by the Board of Directors on 26 January 2024, and are signed on its behalf by:
Olumuyiwa Oluwakoya
Director
Registered Company No. 11107166
YGL GROUP OF ASSOCIATES LTD
Notes to the Financial Statements
for the year ended 31 December 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The company's principal activity during the period was that of residential care activities and accommodation for the elderly and disabled.
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery20-
Fixtures and fittings33-
Office Equipment15-
Intangible assets policy
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20222021
Average number of employees during the year1414
6.Intangible assets

Total

£
Cost or valuation
At 01 January 2275,000
At 31 December 2275,000
Net book value
At 31 December 2275,000
At 31 December 2175,000
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 January 22902,052
At 31 December 22902,052
Depreciation and impairment
At 01 January 2217,087
Charge for year9,013
At 31 December 2226,100
Net book value
At 31 December 22875,952
At 31 December 21884,965
8.Debtors

2022

2021

££
Trade debtors / trade receivables28,89711,307
Other debtors-6,605
Other debtors (Non-current)4,972-
Total33,86917,912
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2022

2021

££
Trade creditors / trade payables13,1377,969
Bank borrowings and overdrafts7783,214
Taxation and social security122,65474,520
Other creditors16,2881,596
Accrued liabilities and deferred income26,300-
Total179,15787,299
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.