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Registered Number: 10245587


 

 

 

YAGAN LTD


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
Report to the directors on the preparation of the unaudited statutory accounts of YAGAN LTD for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of YAGAN LTD for the year ended 31 July 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of YAGAN LTD, as a body, in accordance with the terms of our engagement letter dated 09 April 2024 . Our work has been undertaken solely to prepare for your approval the accounts of YAGAN LTD and state those matters that we have agreed to state to the Board of Directors of YAGAN LTD, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than YAGAN LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that YAGAN LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of YAGAN LTD.You consider that YAGAN LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of YAGAN LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 31 July 2023.



....................................................
UK Venus LTD
1
Ridgeside Avenue
Hove
BN1 8WD
09 April 2024
1
 
 
Notes
 
2023
£
Fixed assets    
Intangible fixed assets 3 475,232 
Tangible fixed assets 4 38,673 
513,905 
Current assets    
Debtors 462,021 
Cash at bank and in hand 96,773 
558,794 
Creditors: amount falling due within one year (74,205)
Net current assets 484,589 
 
Total assets less current liabilities 998,494 
Creditors: amount falling due after more than one year (556,833)
Net assets 441,661 
 

Capital and reserves
   
Called up share capital 5 2 
Profit and loss account 441,659 
Shareholder's funds 441,661 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 09 April 2024 and were signed by:


-------------------------------
Abrahim ASKARI YAGANE
Director
2
General Information
YAGAN LTD is a private company, limited by shares, registered in , registration number 10245587, registration address 10 WITHDEAN ROAD, BRIGHTON ENGLAND, BN1 5BL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 15 years.
Tangible fixed assets
Tangible fixed assets, 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:
Plant & Machinery 5 Reducing Balance
2.

Average number of employees

Average number of employees=10
Average number of employees during the year was 10.
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 August 2022 555,733    555,733 
Additions  
Disposals  
At 31 July 2023 555,733    555,733 
Amortisation
At 01 August 2022 41,600    41,600 
Charge for year 38,901    38,901 
On disposals  
At 31 July 2023 80,501    80,501 
Net book values
At 31 July 2023 475,232    475,232 
At 31 July 2022 514,133    514,133 


4.

Tangible fixed assets

Cost or valuation Plant & Machinery   Total
  £   £
At 01 August 2022 48,341    48,341 
Additions  
Disposals  
At 31 July 2023 48,341    48,341 
Depreciation
At 01 August 2022  
Charge for year 9,668    9,668 
On disposals  
At 31 July 2023 9,668    9,668 
Net book values
Closing balance as at 31 July 2023 38,673    38,673 
Opening balance as at 01 August 2022 48,341    48,341 


5.

Share Capital

Allotted, called up and fully paid
2023
£
2 Class A shares of £1.00 each

3