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Company No: 13650286 (England and Wales)

YOF DEVELOPMENTS LTD

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

YOF DEVELOPMENTS LTD

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

YOF DEVELOPMENTS LTD

COMPANY INFORMATION

For the financial year ended 30 September 2023
YOF DEVELOPMENTS LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2023
DIRECTOR Mark Anthony Newton
REGISTERED OFFICE 40 Kings Court
Market Weighton
YO43 3FN
England
United Kingdom
COMPANY NUMBER 13650286 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
YOF DEVELOPMENTS LTD

BALANCE SHEET

As at 30 September 2023
YOF DEVELOPMENTS LTD

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 0 5,895
0 5,895
Current assets
Stocks 5 0 5,644
Debtors 6 11,567 4,844
Cash at bank and in hand 7 1,174 2,831
12,741 13,319
Creditors: amounts falling due within one year 8 ( 6,641) ( 18,064)
Net current assets/(liabilities) 6,100 (4,745)
Total assets less current liabilities 6,100 1,150
Net assets 6,100 1,150
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 6,000 1,050
Total shareholder's funds 6,100 1,150

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of YOF Developments Ltd (registered number: 13650286) were approved and authorised for issue by the Director on 07 February 2024. They were signed on its behalf by:

Mark Anthony Newton
Director
YOF DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
YOF DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

YOF Developments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 40 Kings Court, Market Weighton, YO43 3FN, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2023 the director made the decision that the Company would cease trading. As a result, the financial statements have been prepared on a basis other than the going concern basis of preparation. The director has included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Dividends on equity shares

2023 2022
£ £
Amounts recognised as distributions to equity holders in the financial year:
5,141 30,000

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 October 2022 7,858 7,858
Disposals ( 7,858) ( 7,858)
At 30 September 2023 0 0
Accumulated depreciation
At 01 October 2022 1,963 1,963
Disposals ( 1,963) ( 1,963)
At 30 September 2023 0 0
Net book value
At 30 September 2023 0 0
At 30 September 2022 5,895 5,895

5. Stocks

2023 2022
£ £
Work in progress 0 5,644

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

6. Debtors

2023 2022
£ £
Trade debtors 0 4,844
Other debtors 11,567 0
11,567 4,844

7. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 1,174 2,831

8. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 7,174
Amounts owed to director 0 3,071
Taxation and social security 6,641 7,819
6,641 18,064

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100