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REGISTERED NUMBER: 09726270 (England and Wales)












Financial Statements

for the Year Ended 31 August 2023

for

Young Tech Solutions Limited

Young Tech Solutions Limited (Registered number: 09726270)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Young Tech Solutions Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: A P Freeman
D Freeman





REGISTERED OFFICE: 46-48 Long Street
Middleton
Manchester
M24 6UQ





REGISTERED NUMBER: 09726270 (England and Wales)





ACCOUNTANTS: Archwood Accountants
Archwood House
46-48 Long Street
Middleton
Manchester
M24 6UQ

Young Tech Solutions Limited (Registered number: 09726270)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,783
Tangible assets 5 11,693 15,888
11,693 17,671

CURRENT ASSETS
Debtors 6 67,329 19,582
Cash at bank 13,389 10,284
80,718 29,866
CREDITORS
Amounts falling due within one year 7 20,451 21,007
NET CURRENT ASSETS 60,267 8,859
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,960

26,530

CREDITORS
Amounts falling due after more than one
year

8

(2,333

)

(6,332

)

PROVISIONS FOR LIABILITIES (2,923 ) (3,019 )
NET ASSETS 66,704 17,179

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 66,703 17,178
66,704 17,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Young Tech Solutions Limited (Registered number: 09726270)

Balance Sheet - continued
31 August 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:





A P Freeman - Director


Young Tech Solutions Limited (Registered number: 09726270)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Young Tech Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Young Tech Solutions Limited (Registered number: 09726270)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 September 2022
and 31 August 2023 5,350
AMORTISATION
At 1 September 2022 3,567
Amortisation for year 1,783
At 31 August 2023 5,350
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 1,783

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 19,999 1,333 21,332
DEPRECIATION
At 1 September 2022 5,000 444 5,444
Charge for year 3,750 445 4,195
At 31 August 2023 8,750 889 9,639
NET BOOK VALUE
At 31 August 2023 11,249 444 11,693
At 31 August 2022 14,999 889 15,888

Young Tech Solutions Limited (Registered number: 09726270)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2022
and 31 August 2023 19,999
DEPRECIATION
At 1 September 2022 5,000
Charge for year 3,750
At 31 August 2023 8,750
NET BOOK VALUE
At 31 August 2023 11,249
At 31 August 2022 14,999

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 27,296 2,035
Other debtors 15,033 10,686
Tax - 6,861
Prepayments and accrued income 25,000 -
67,329 19,582

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts 4,000 4,000
Tax 13,807 -
Social security and other taxes (1 ) 1,858
Other creditors 719 503
Directors' current accounts 551 13,033
Accrued expenses 1,375 1,613
20,451 21,007

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts 2,333 6,332

Young Tech Solutions Limited (Registered number: 09726270)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Hire purchase contracts 6,333 10,332