Company registration number 08841990 (England and Wales)
YORK HOUSE INVESTMENT COMPANY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
YORK HOUSE INVESTMENT COMPANY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
YORK HOUSE INVESTMENT COMPANY LTD
BALANCE SHEET
AS AT 29 DECEMBER 2023
29 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
63,718
38,462
Investment property
4
1,419,709
1,154,909
Investments
5
4,520,741
3,573,178
6,004,168
4,766,549
Current assets
Debtors
7
234,684
215,955
Cash at bank and in hand
131,864
36,148
366,548
252,103
Creditors: amounts falling due within one year
8
(941,716)
(46,528)
Net current (liabilities)/assets
(575,168)
205,575
Total assets less current liabilities
5,429,000
4,972,124
Provisions for liabilities
(580,828)
(471,080)
Net assets
4,848,172
4,501,044
Capital and reserves
Called up share capital
2,800,000
2,800,000
Profit and loss reserves
2,048,172
1,701,044
Total equity
4,848,172
4,501,044

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

YORK HOUSE INVESTMENT COMPANY LTD
BALANCE SHEET (CONTINUED)
AS AT 29 DECEMBER 2023
29 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 March 2024 and are signed on its behalf by:
Mr M S Hepworth
Director
Company Registration No. 08841990
YORK HOUSE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

York House Investment Company Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Kendal House, Murley Moss Business Village, Oxenholme Road, Kendal, LA9 7RL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Rental income is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Other turnover represents amounts receivable for recharges, feed in tariffs and consultancy, net of VAT, to the extent that the company has a right to consideration arising from the performance of contractual obligations.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
No depreciation charged
Computer equipment
20% Reducing Balance
Motor vehicles
20% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

 

No depreciation is provided in respect of this property as the useful life is considered to be so long and the residual value estimated to be so high, as a result of the ongoing maintenance, as to render any depreciation charges and accumulated depreciation immaterial.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

YORK HOUSE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments

Interests in jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

YORK HOUSE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

YORK HOUSE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2023
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
-
0
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 30 December 2022
39,213
Additions
31,499
At 29 December 2023
70,712
Depreciation and impairment
At 30 December 2022
751
Depreciation charged in the year
6,243
At 29 December 2023
6,994
Carrying amount
At 29 December 2023
63,718
At 29 December 2022
38,462

 

4
Investment property
2023
£
Fair value
At 30 December 2022
1,154,908
Additions
335,626
Disposals
(70,825)
At 29 December 2023
1,419,709

The fair value of investment property has been estimated by the directors based on informal discussions with a suitably qualified individual, and in the opinion of the directors this fair value is the same as the original purchase costs of the property.

YORK HOUSE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2023
- 7 -
5
Fixed asset investments
2023
2022
£
£
Unlisted investments
4,365,219
4,018,878
Loans
155,522
(445,700)
4,520,741
3,573,178
Movements in fixed asset investments
Investments other than loans
Other investments
Total
£
£
£
Cost or valuation
At 30 December 2022
4,018,878
(445,700)
3,573,178
Additions
76,923
1,222
78,145
Valuation changes
413,734
-
413,734
Transfers
-
600,000
600,000
Disposals
(144,316)
-
(144,316)
At 29 December 2023
4,365,219
155,522
4,520,741
Carrying amount
At 29 December 2023
4,365,219
155,522
4,520,741
At 29 December 2022
4,018,878
(445,700)
3,573,178
6
Financial instruments
2023
2022
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
3,859,934
3,446,200
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
15,479
30,800
Other debtors
219,205
185,155
234,684
215,955
YORK HOUSE INVESTMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2023
- 8 -
8
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
56,649
3,154
Trade creditors
68,784
10,804
Taxation and social security
19,133
133
Other creditors
797,150
32,437
941,716
46,528

Bank loans and overdrafts totalling £56,649 (2022: £3,154) are secured by way of a fixed and floating charge over all the property and undertakings of the company.

9
Related party transactions
Transactions with related parties

The following amounts were outstanding from key management personnel at the reporting end date: £nil (2022: £61,501).

2023-12-292022-12-30false30 March 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr J P HepworthMrs L C HepworthMr M S Hepworthfalse088419902022-12-302023-12-29088419902023-12-29088419902022-12-2908841990core:OtherPropertyPlantEquipment2023-12-2908841990core:OtherPropertyPlantEquipment2022-12-2908841990core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-2908841990core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-2908841990core:CurrentFinancialInstruments2023-12-2908841990core:CurrentFinancialInstruments2022-12-2908841990core:ShareCapital2023-12-2908841990core:ShareCapital2022-12-2908841990core:RetainedEarningsAccumulatedLosses2023-12-2908841990core:RetainedEarningsAccumulatedLosses2022-12-2908841990bus:Director32022-12-302023-12-2908841990core:PlantMachinery2022-12-302023-12-2908841990core:ComputerEquipment2022-12-302023-12-2908841990core:MotorVehicles2022-12-302023-12-29088419902021-12-302022-12-2908841990core:OtherPropertyPlantEquipment2022-12-2908841990core:OtherPropertyPlantEquipment2022-12-302023-12-29088419902022-12-2908841990core:Non-currentFinancialInstrumentscore:UnlistedNon-exchangeTraded2023-12-2908841990core:Non-currentFinancialInstrumentscore:UnlistedNon-exchangeTraded2022-12-2908841990core:Non-currentFinancialInstruments2023-12-2908841990core:Non-currentFinancialInstruments2022-12-2908841990core:WithinOneYear2023-12-2908841990core:WithinOneYear2022-12-2908841990bus:PrivateLimitedCompanyLtd2022-12-302023-12-2908841990bus:SmallCompaniesRegimeForAccounts2022-12-302023-12-2908841990bus:FRS1022022-12-302023-12-2908841990bus:AuditExemptWithAccountantsReport2022-12-302023-12-2908841990bus:Director12022-12-302023-12-2908841990bus:Director22022-12-302023-12-2908841990bus:FullAccounts2022-12-302023-12-29xbrli:purexbrli:sharesiso4217:GBP