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Registration number: 12243864

Yallops Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Yallops Holdings Limited

Contents

Company Information

1

Statement of financial position

2

Notes to the Unaudited Financial Statements

3 to 7

 

Yallops Holdings Limited

Company Information

Directors

Mr Paul Yallop

Mr Daniel Yallop

Mrs Claire Rosalind Yallop

Registered office

19 King Street
King's Lynn
Norfolk
PE30 1HB

Accountants

Hayhow & Co.
Chartered Certified Accountants & Business Advisers
19 King Street
King's Lynn
Norfolk
PE30 1HB

 

Yallops Holdings Limited

(Registration number: 12243864)
Statement of financial position as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,177

4,237

Investment property

5

492,367

484,720

 

495,544

488,957

Current assets

 

Debtors

6

1,070

1,070

Cash at bank and in hand

 

31,615

965

 

32,685

2,035

Creditors: Amounts falling due within one year

7

(505,543)

(499,328)

Net current liabilities

 

(472,858)

(497,293)

Net assets/(liabilities)

 

22,686

(8,336)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

22,586

(8,436)

Shareholders' funds/(deficit)

 

22,686

(8,336)

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of comprehensive income.

Approved and authorised by the Board on 14 March 2024 and signed on its behalf by:
 

.........................................
Mr Paul Yallop
Director

 

Yallops Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
19 King Street
King's Lynn
Norfolk
PE30 1HB

These financial statements were authorised for issue by the Board on 14 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Yallops Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25% reducing balance

Investment property

Investment property is carried at cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Yallops Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

5,649

5,649

At 31 October 2023

5,649

5,649

Depreciation

At 1 November 2022

1,412

1,412

Charge for the year

1,060

1,060

At 31 October 2023

2,472

2,472

Carrying amount

At 31 October 2023

3,177

3,177

At 31 October 2022

4,237

4,237

5

Investment properties

2023
£

At 1 November

484,720

Additions

7,647

At 31 October

492,367

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

9

1,070

1,070

   

1,070

1,070

 

Yallops Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts due to related parties

9

500,228

498,248

Other payables

 

(1)

-

Accruals

 

1,020

1,080

Tax liability

4,296

-

 

505,543

499,328

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A of £1 each

40

40

40

40

Ordinary B of £1 each

40

40

40

40

Ordinary C of £1 each

20

20

20

20

100

100

100

100

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.

9

Related party transactions

Summary of transactions with other related parties

R D Yallop Granchildren Settlement
Oakkeepers Settlement
King's Lynn Caravan and Camping Ltd

 Loans from Settlements in which D Yallop is a beneficiary.
Loans from Companies controlled by the directors.
 

Loans to related parties

2023

Key management
£

Total
£

At start of period

1,070

1,070

At end of period

1,070

1,070

 

Yallops Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2022

Key management
£

Total
£

At start of period

43,690

43,690

Repaid

(42,620)

(42,620)

At end of period

1,070

1,070

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

491,735

491,735

Advanced

8,492

8,492

At end of period

500,227

500,227

2022

Other related parties
£

Total
£

At start of period

487,336

487,336

Advanced

4,399

4,399

At end of period

491,735

491,735