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REGISTERED NUMBER: 10562188 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Yearnglass Limited

Yearnglass Limited (Registered number: 10562188)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Yearnglass Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: J Kharsa
G Kharsa





REGISTERED OFFICE: 10 Blackhorse Lane
North Weald
Epping
CM16 6EP





REGISTERED NUMBER: 10562188 (England and Wales)





ACCOUNTANTS: Michael D Lawson & Co
10 Blackhorse Lane
North Weald
Epping
Essex
CM16 6EP

Yearnglass Limited (Registered number: 10562188)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 85,293 87,070
85,293 87,070

CURRENT ASSETS
Stocks 78,500 85,000
Debtors 6 278,051 245,286
Prepayments and accrued income 5,419 19,343
Cash at bank and in hand 924,513 916,038
1,286,483 1,265,667
CREDITORS
Amounts falling due within one year 7 247,438 232,426
NET CURRENT ASSETS 1,039,045 1,033,241
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,124,338

1,120,311

CREDITORS
Amounts falling due after more than one
year

8

41,852

53,770
NET ASSETS 1,082,486 1,066,541

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 11 1,082,286 1,066,341
SHAREHOLDERS' FUNDS 1,082,486 1,066,541

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Yearnglass Limited (Registered number: 10562188)

Balance Sheet - continued
31 January 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:




J Kharsa - Director



G Kharsa - Director


Yearnglass Limited (Registered number: 10562188)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Yearnglass Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible fixed assets are shown at cost less amortisation.

Amortisation of intangible fixed assets has been provided at 33.3% per annum.

Tangible fixed assets
Depreciation of tangible fixed assets is provided at the following annual rates in order to write off the cost of each asset over its expected useful life.

Plant and machinery - 10% reducing balance
Fixtures fittings and equipment - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 33.3% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Yearnglass Limited (Registered number: 10562188)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 7,000
AMORTISATION
At 1 February 2023
and 31 January 2024 7,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

Yearnglass Limited (Registered number: 10562188)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 141,708
Additions 9,358
At 31 January 2024 151,066
DEPRECIATION
At 1 February 2023 54,638
Charge for year 11,135
At 31 January 2024 65,773
NET BOOK VALUE
At 31 January 2024 85,293
At 31 January 2023 87,070

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 278,051 245,286

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 11,667 11,667
Trade creditors 102,750 109,119
Taxation and social security 117,528 104,342
Other creditors 15,493 7,298
247,438 232,426

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans 41,852 53,770

Yearnglass Limited (Registered number: 10562188)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 53,519 65,437

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary A Shares £1 100 100
100 Ordinary B Shares £1 100 100
200 200

11. RESERVES
Retained
earnings
£   

At 1 February 2023 1,066,341
Profit for the year 89,104
Dividends (73,159 )
At 31 January 2024 1,082,286