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Y Patel Limited
Registered Number:07695289
For the year ended 30 June 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 30 June 2023
Y Patel Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
07695289
As at 30 June 2023
Y Patel Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Intangible assets
13,600
15,300
2
Property, plant and equipment
8,732
9,798
3
22,332
25,098
Current assets
Inventories
5,800
6,100
4
Trade and other receivables
152,714
136,717
5
44,215
Cash and cash equivalents
4,329
147,146
202,729
Trade and other payables: amounts falling due within one
year
(140,671)
(80,032)
6
62,058
67,114
Net current assets
Total assets less current liabilities
89,446
87,156
Trade and other payables: amounts falling due after more
than one year
(21,461)
(14,236)
7
75,210
Net assets
65,695
Capital and reserves
Called up share capital
100
100
Retained earnings
75,110
65,595
75,210
65,695
Shareholders' funds
For the 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 members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Yunus Patel Director
These financial statements were approved and authorised for issue by the Board on 28 February 2024 and were signed by:
1 of 5
4
Registered Number :
07695289
For the year ended 30 June 2023
Y Patel Limited
Statement of Financial Position Continued
The notes form part of these financial statements
2 of 5
5
For the year ended 30 June 2023
Y Patel Limited
Notes to the Financial Statements
Statutory Information
Y Patel Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
07695289.
Registered address:
41 Highwood Gardens
Ilford
Essex
IG5 0AZ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of 20 years.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
15% Reducing balance
Fixtures and fittings
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 July 2022
34,000
At 30 June 2023
34,000
Amortisation
At 01 July 2022
18,700
1,700
Charge for year
At 30 June 2023
20,400
Net book value
At 30 June 2023
13,600
At 30 June 2022
15,300
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6
For the year ended 30 June 2023
Y Patel Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment
Fixtures and
fittings
£
Cost or
valuation
At 01 July 2022
33,226
474
Additions
At 30 June 2023
33,700
Provision for depreciation and impairment
At 01 July 2022
23,428
Charge for year
1,540
At 30 June 2023
24,968
At 30 June 2023
Net book value
8,732
At 30 June 2022
9,798
4. Inventories
2022
2023
£
£
Stocks
6,100
5,800
5. Trade and other receivables
2022
2023
£
£
Trade debtors
875
987
Other debtors
135,842
151,727
152,714
136,717
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
7,880
7,880
Trade creditors
1,176
841
Taxation and social security
4,389
4,055
Other creditors
66,587
127,895
80,032
140,671
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7
For the year ended 30 June 2023
Y Patel Limited
Notes to the Financial Statements Continued
7. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft
14,236
21,461
8. Average number of persons employed
During the year the average number of employees was 5 (2022 : 5)
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