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Registration number: 02564003

Gordon Yates Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Gordon Yates Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Gordon Yates Limited

Company Information

Directors

Mr R J R Grace

Mr M B B Grace

Company secretary

Mr R J R Grace

Registered office

5th Floor
167-169 Great Portland Street
London
W1W 5PF

Accountants

DG Accountancy Services Limited
Chartered Accountants
17 Stonecot Hill
Sutton
Surrey
SM3 9HB

 

Gordon Yates Limited

(Registration number: 02564003)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,367

9,823

Investment property

5

1,778,000

1,819,000

Investments

6

1,000

1,000

 

1,786,367

1,829,823

Current assets

 

Debtors

7

425,007

306,964

Cash at bank and in hand

 

846,504

429,883

 

1,271,511

736,847

Creditors: Amounts falling due within one year

8

(999,691)

(604,501)

Net current assets

 

271,820

132,346

Total assets less current liabilities

 

2,058,187

1,962,169

Provisions for liabilities

(34,376)

(42,166)

Net assets

 

2,023,811

1,920,003

Capital and reserves

 

Called up share capital

9

60,000

60,000

Share premium reserve

10,000

10,000

Capital redemption reserve

90,000

90,000

Retained earnings

1,863,811

1,760,003

Shareholders' funds

 

2,023,811

1,920,003

 

Gordon Yates Limited

(Registration number: 02564003)
Balance Sheet as at 31 December 2023

For the financial 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 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 within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 3 April 2024 and signed on its behalf by:
 

.........................................
Mr R J R Grace
Company secretary and director

   
     
 

Gordon Yates Limited

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

1

General information

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

The address of its registered office is:
5th Floor
167-169 Great Portland Street
London
W1W 5PF

These financial statements were authorised for issue by the Board on 3 April 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.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant and machinery

25% on reducing balance

 

Gordon Yates Limited

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

Investment property

Investment properties are initially measured at cost and subsequently measured at fair value where a reliable measure of fair value is available without undue cost or effort.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principles set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Hire Purchase and leasing commitments

Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

 

Gordon Yates Limited

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

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

651,654

651,654

At 31 December 2023

651,654

651,654

Depreciation

At 1 January 2023

641,831

641,831

Charge for the year

2,456

2,456

At 31 December 2023

644,287

644,287

Carrying amount

At 31 December 2023

7,367

7,367

At 31 December 2022

9,823

9,823

5

Investment properties

2023
£

At 1 January

1,819,000

Revaluations

(41,000)

At 31 December

1,778,000

6

Investments

2023
£

2022
£

Investments in subsidiaries

1,000

1,000

Subsidiaries

£

Cost or valuation

At 1 January 2023

1,000

Provision

Carrying amount

At 31 December 2023

1,000

At 31 December 2022

1,000

 

Gordon Yates Limited

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

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

150

150

Amounts owed by related parties

10

397,896

298,342

Prepayments

 

1,655

1,656

Other debtors

 

25,306

6,816

   

425,007

306,964

 

Gordon Yates Limited

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

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

501,816

188,118

Accruals and deferred income

399,476

336,848

Other creditors

98,399

79,535

999,691

604,501

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

60,000

60,000

60,000

60,000

Share Premium of £1 each

10,000

10,000

10,000

10,000

Capital Redemption Reserve of £1 each

90,000

90,000

90,000

90,000

 

160,000

160,000

160,000

160,000

10

Related party transactions

At the balance sheet date, Gordon Yates Limited were owed by Gordon Yates Recruiting & Training Limited (a subsidiary company) £397,896 (2022: £298,342). During the year sales totalling £378,383 (2022: £360,276) were made to Gordon Yates Recruiting & Training Limited. During the year the company received dividends of Nil (2022: Nil) from the subsidiary company.

The company has a fixed and floating charge on all assets belonging to Gordon Yates Recruiting & Training Limited.