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Company Registration No. 12577932 (England and Wales)
YORVIK LAND LIMITED Unaudited accounts for the year ended 30 September 2023
YORVIK LAND LIMITED Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
45,938 
26,007 
Current assets
Inventories
2,282,225 
2,804,101 
Debtors
1,817,778 
182,333 
Cash at bank and in hand
10,531 
4,907 
4,110,534 
2,991,341 
Creditors: amounts falling due within one year
(61,259)
(27,784)
Net current assets
4,049,275 
2,963,557 
Total assets less current liabilities
4,095,213 
2,989,564 
Creditors: amounts falling due after more than one year
(3,986,000)
(3,006,000)
Provisions for liabilities
Deferred tax
(10,091)
- 
Net assets/(liabilities)
99,122 
(16,436)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
99,022 
(16,536)
Shareholders' funds
99,122 
(16,436)
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 March 2024 and were signed on its behalf by
M J Gath Director Company Registration No. 12577932
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YORVIK LAND LIMITED Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
YORVIK LAND LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12577932. The registered office is First Floor, 4 Audax Court, Audax Close, YORK, YO30 4RB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing Balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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YORVIK LAND LIMITED Notes to the Accounts for the year ended 30 September 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 October 2022
38,708 
Additions
51,520 
Disposals
(38,708)
At 30 September 2023
51,520 
Depreciation
At 1 October 2022
12,701 
Charge for the year
8,562 
Surplus on revaluation
(15,681)
At 30 September 2023
5,582 
Net book value
At 30 September 2023
45,938 
At 30 September 2022
26,007 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
3,117 
- 
Trade debtors
502,310 
18,000 
Accrued income and prepayments
67,351 
64,333 
Other debtors
93,000 
- 
665,778 
82,333 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
452,000 
- 
Other debtors
700,000 
100,000 
1,152,000 
100,000 
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YORVIK LAND LIMITED Notes to the Accounts for the year ended 30 September 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
- 
22,643 
Obligations under finance leases and hire purchase contracts
13,333 
- 
Amounts owed to group undertakings and other participating interests
25,000 
- 
Taxes and social security
17,297 
- 
Other creditors
593 
- 
Loans from directors
3,836 
3,941 
Accruals
1,200 
1,200 
61,259 
27,784 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
20,000 
- 
Amounts owed to group undertakings and other participating interests
465,000 
- 
Other creditors
300,000 
25,000 
Loans from directors
3,201,000 
2,981,000 
3,986,000 
3,006,000 
Included within creditors falling due after more than one year is a loan of £300,000 from Miss L G Gath.
8
Transactions with related parties
At 30 September 2023 the company owed the Director, Mr M J Gath £3,204,835 (2022 - £2,984,941).
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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