Yarwoods Properties Ltd 12422260 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is that of property rental Digita Accounts Production Advanced 6.30.9574.0 true true 12422260 2023-02-01 2024-01-31 12422260 2024-01-31 12422260 bus:Director1 1 2024-01-31 12422260 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-01-31 12422260 core:CurrentFinancialInstruments 2024-01-31 12422260 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 12422260 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 12422260 core:FurnitureFittingsToolsEquipment 2024-01-31 12422260 core:LandBuildings 2024-01-31 12422260 core:OtherPropertyPlantEquipment 2024-01-31 12422260 bus:SmallEntities 2023-02-01 2024-01-31 12422260 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 12422260 bus:FilletedAccounts 2023-02-01 2024-01-31 12422260 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 12422260 bus:Director1 2023-02-01 2024-01-31 12422260 bus:Director1 1 2023-02-01 2024-01-31 12422260 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-02-01 2024-01-31 12422260 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12422260 core:FurnitureFittings 2023-02-01 2024-01-31 12422260 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 12422260 core:LandBuildings 2023-02-01 2024-01-31 12422260 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 12422260 core:PlantMachinery 2023-02-01 2024-01-31 12422260 countries:EnglandWales 2023-02-01 2024-01-31 12422260 2023-01-31 12422260 bus:Director1 1 2023-01-31 12422260 core:FurnitureFittingsToolsEquipment 2023-01-31 12422260 core:LandBuildings 2023-01-31 12422260 core:OtherPropertyPlantEquipment 2023-01-31 12422260 2022-02-01 2023-01-31 12422260 2023-01-31 12422260 bus:Director1 1 2023-01-31 12422260 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-01-31 12422260 core:CurrentFinancialInstruments 2023-01-31 12422260 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 12422260 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 12422260 core:FurnitureFittingsToolsEquipment 2023-01-31 12422260 core:LandBuildings 2023-01-31 12422260 core:OtherPropertyPlantEquipment 2023-01-31 12422260 bus:Director1 1 2022-02-01 2023-01-31 12422260 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-02-01 2023-01-31 12422260 bus:Director1 1 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12422260

Yarwoods Properties Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2024

 

Yarwoods Properties Ltd

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 7

 

Yarwoods Properties Ltd

(Registration number: 12422260)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

670,956

490,977

Current assets

 

Debtors

4

-

14,019

Cash at bank and in hand

 

2,398

1,467

 

2,398

15,486

Creditors: Amounts falling due within one year

(167,844)

(115,918)

Net current liabilities

 

(165,446)

(100,432)

Total assets less current liabilities

 

505,510

390,545

Creditors: Amounts falling due after more than one year

(278,922)

(152,250)

Accruals and deferred income

 

(360)

(360)

Net assets

 

226,228

237,935

Capital and reserves

 

Called up share capital

5

594

532

Retained earnings

225,634

237,403

Shareholders' funds

 

226,228

237,935

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Yarwoods Properties Ltd

(Registration number: 12422260)
Abridged Balance Sheet as at 31 January 2024

Approved and authorised by the director on 16 April 2024
 

.........................................
Mr Paul Anthony Yarwood
Director

 

Yarwoods Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

1

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 abridged 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 abridged 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.

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

Property

Held at cost

Plant and machinery

20% Reducing balance method

Fixtures and fittings

20% Reducing balance method

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.

 

Yarwoods Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Yarwoods Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

481,000

11,494

2,294

494,788

Additions

180,000

2,098

369

182,467

At 31 January 2024

661,000

13,592

2,663

677,255

Depreciation

At 1 February 2023

-

3,185

626

3,811

Charge for the year

-

2,081

407

2,488

At 31 January 2024

-

5,266

1,033

6,299

Carrying amount

At 31 January 2024

661,000

8,326

1,630

670,956

At 31 January 2023

481,000

8,309

1,668

490,977

Included within the net book value of land and buildings above is £661,000 (2023 - £481,000) in respect of freehold land and buildings.
 

4

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £594 (2023 - £532) each

1

594

1

532

       
 

Yarwoods Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

6

Related party transactions

 

Yarwoods Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Transactions with the director

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Mr Paul Anthony Yarwood

Directors loan account

13,808

51

(61,673)

(47,814)

2023

At 1 February 2022
£

Advances to director
£

Repayments by director
£

At 31 January 2023
£

Mr Paul Anthony Yarwood

Directors loan account

188,450

1,915

(176,557)

13,808