Company registration number 01222816 (England and Wales)
YANSPORT HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
YANSPORT HOLDINGS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
YANSPORT HOLDINGS LTD
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
550,068
547,850
Investments
4
750
750
550,818
548,600
Current assets
Debtors
5
287,339
262,405
Cash at bank and in hand
10,238
6,532
297,577
268,937
Creditors: amounts falling due within one year
6
(9,312)
(9,000)
Net current assets
288,265
259,937
Total assets less current liabilities
839,083
808,537
Creditors: amounts falling due after more than one year
7
(407,808)
(408,645)
Net assets
431,275
399,892
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
431,175
399,792
Total equity
431,275
399,892

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

YANSPORT HOLDINGS LTD
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 30 November 2023
Mr I P Cousins
Director
Company Registration No. 01222816
YANSPORT HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

Yansport Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 91 Frederick Street, Walsall, United Kingdom, WS2 9NE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis. The company continues to be profitable. At the year end the company has net current assets of £288,265 (2022 had net current assets of £259,937). The validity of the going concern basis depends on the continued support of the company's director. The director has assessed the 12 months from sign off of the financial statements in terms of profitability and cashflows and concluded that the going concern basis remains appropriate.

1.3
Turnover

Turnover consists of gross rental income receivable.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on recognised in profit or loss.

1.5
Fixed asset investments

Interests in jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
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.

YANSPORT HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including other creditors, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

 

Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

 

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.

YANSPORT HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -

Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted by the reporting date.

 

Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

 

For investment properties measured at fair value deferred tax is measured using the tax rates and allowances that apply to the sale of the property.

1.10
Retirement benefits

For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Investment property
2023
£
Fair value
At 1 July 2022
547,850
Additions
2,218
At 30 June 2023
550,068

Investment property comprises three freehold properties. The fair value of two of the investment properties has been arrived at on the basis of a valuation carried out on 8 September 2017 by John Emms commercial, totalling £341,850, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. One of the investment properties was acquired after the valuation and is valued at cost of £206,000 and in the opinion of the directors equates to market value. This leaves the total market value of investment properties £547,850 at the year end. There is no deferred tax on investment property due to the indexed cost exceeding valuation. There were no disposals of investment property during the year.

YANSPORT HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
750
750
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
283,589
256,583
Other debtors
3,750
5,822
287,339
262,405
6
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
7,312
7,000
Other creditors
2,000
2,000
9,312
9,000
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
407,808
408,645

Other creditors comprise of an amount due to the director of the company.

YANSPORT HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 7 -
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
9
Related party transactions

During the year the company advanced £27,006 (2022 - £34,352) to Yansport Safetywear Limited, a significant undertaking of the company. The company was repaid £Nil (2022 - £9,975) by Yansport Safetywear Limited. At the year end the balance owed by Yansport Safetywear Limited amounted to £283,589 (2022 - £256,583) This loan balance is unsecured.

 

Also, a pension contribution of £Nil (2022 - £1,320) was made by the company to the Yansport pension fund.

10
Directors' transactions

This amount is included within other creditors, creditors amounts falling due after one year. This loan balance is unsecured.

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