Registered number
04865649
YORK SURVEY SUPPLY CENTRE LIMITED
Filleted Accounts
30 November 2023
YORK SURVEY SUPPLY CENTRE LIMITED
Registered number: 04865649
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 - 62,189
Tangible assets 4 1,467,544 1,470,463
1,467,544 1,532,652
Current assets
Stocks 682,440 657,957
Debtors 5 178,540 190,576
Cash at bank and in hand 228,436 199,675
1,089,416 1,048,208
Creditors: amounts falling due within one year 6 (262,747) (258,260)
Net current assets 826,669 789,948
Total assets less current liabilities 2,294,213 2,322,600
Creditors: amounts falling due after more than one year 7 (33,333) (43,330)
Provisions for liabilities (2,511) (3,022)
Net assets 2,258,369 2,276,248
Capital and reserves
Called up share capital 83,333 83,333
Revaluation reserve 8 512,030 512,030
Capital redemption reserve 9 417,500 417,500
Profit and loss account 1,245,506 1,263,385
Shareholders' funds 2,258,369 2,276,248
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S R Rawlings
Director
Approved by the board on 14 February 2024
YORK SURVEY SUPPLY CENTRE LIMITED
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings not provided
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Motor vehicles over 4 years
Computer equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
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.
Government grants
Payments received in the year ended 30 November 2021 under the Coronavirus Job Retention Scheme have been accounted for as Grant income on accruals model and recorded within other operating income.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 1,245,053
At 30 November 2023 1,245,053
Amortisation
At 1 December 2022 1,182,864
Provided during the year 62,189
At 30 November 2023 1,245,053
Net book value
At 30 November 2023 -
At 30 November 2022 62,189
Goodwill has been written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 1,453,261 258,648 1,711,909
Additions - 1,127 1,127
At 30 November 2023 1,453,261 259,775 1,713,036
Depreciation
At 1 December 2022 - 241,446 241,446
Charge for the year - 4,046 4,046
At 30 November 2023 - 245,492 245,492
Net book value
At 30 November 2023 1,453,261 14,283 1,467,544
At 30 November 2022 1,453,261 17,202 1,470,463
5 Debtors 2023 2022
£ £
Trade debtors 178,540 190,576
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 129,310 110,989
Corporation tax 46,953 56,409
Taxation and social security costs 57,317 65,862
Other creditors 29,167 25,000
262,747 258,260
7 Creditors: amounts falling due after one year 2023 2022
£ £
Government Bouncve Back Loan Scheme 33,333 43,330
8 Revaluation reserve 2023 2022
£ £
At 1 December 2022 512,030 512,030
At 30 November 2023 512,030 512,030
9 Capital redemption reserve 2023 2022
£ £
At 1 December 2022 417,500 417,500
At 30 November 2023 417,500 417,500
9 Controlling party
S R Rawlings as a shareholder and managing director is deemed to be the ultimate controllong party.
10 Other information
YORK SURVEY SUPPLY CENTRE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Prospect House
George Cauley Drive, Clifton Moor
York
North Yorkshire
YO30 4XE
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