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COMPANY REGISTRATION NUMBER: 07591488
YORKSHIRE PROPERTY FINANCE LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
YORKSHIRE PROPERTY FINANCE LTD
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 3
YORKSHIRE PROPERTY FINANCE LTD
BALANCE SHEET
31 December 2023
2023
2022
Note
£
£
Current assets
Debtors
4
4,483,483
4,012,474
Cash at bank and in hand
594,250
66,130
------------
------------
5,077,733
4,078,604
Creditors: amounts falling due within one year
5
3,771,221
3,022,105
------------
------------
Net current assets
1,306,512
1,056,499
------------
------------
Total assets less current liabilities
1,306,512
1,056,499
Creditors: amounts falling due after more than one year
6
17,613
27,442
------------
------------
Net assets
1,288,899
1,029,057
------------
------------
Capital and reserves
Called up share capital
7
100
100
Profit and loss account
1,288,799
1,028,957
------------
------------
Shareholders funds
1,288,899
1,029,057
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 March 2024 , and are signed on behalf of the board by:
T N Gledhill
A J Newham
Director
Director
Company registration number: 07591488
YORKSHIRE PROPERTY FINANCE LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 The Mews, Little Brunswick Street, Huddersfield, HD1 5JL, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents amounts earned during the period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Debtors
2023
2022
£
£
Trade debtors
4,451,999
3,982,693
Called up share capital not paid
100
100
Prepayments and accrued income
31,384
29,681
------------
------------
4,483,483
4,012,474
------------
------------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,829
9,829
Trade creditors
457
518
Accruals and deferred income
8,012
4,969
Corporation tax
79,912
40,149
Other creditors
3,673,011
2,966,640
------------
------------
3,771,221
3,022,105
------------
------------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
17,613
27,442
------------
------------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
8. Related party transactions
The other creditors balance set out above represents amounts owed to shareholders or their associates. These loans are secured by charges over the company and accrue interest at commercial rates. They are repayable by agreement between the company and the lender. Aggregate dividends paid to each director amounted to £Nil (2022: £Nil).