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REGISTERED NUMBER: 01127955 (England and Wales)
















YCR DISTRIBUTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






YCR DISTRIBUTION LIMITED (REGISTERED NUMBER: 01127955)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


YCR DISTRIBUTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J Hall
P Hall
K Earnshaw





SECRETARY: K Earnshaw





REGISTERED OFFICE: Shaw Cross Court
Shaw Cross Business Park
Dewsbury
West Yorkshire
WF12 7RF





REGISTERED NUMBER: 01127955 (England and Wales)





ACCOUNTANTS: UHY BPR Heaton
Chartered Accountants
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY

YCR DISTRIBUTION LIMITED (REGISTERED NUMBER: 01127955)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,243 7,713

CURRENT ASSETS
Stocks 1,472,841 1,186,425
Debtors 5 704,280 643,491
Cash at bank and in hand 370,624 221,532
2,547,745 2,051,448
CREDITORS
Amounts falling due within one year 6 732,645 354,686
NET CURRENT ASSETS 1,815,100 1,696,762
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,824,343

1,704,475

CREDITORS
Amounts falling due after more than one
year

7

(157,500

)

(227,500

)

PROVISIONS FOR LIABILITIES (911 ) (1,928 )
NET ASSETS 1,665,932 1,475,047

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 1,615,932 1,425,047
SHAREHOLDERS' FUNDS 1,665,932 1,475,047

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

YCR DISTRIBUTION LIMITED (REGISTERED NUMBER: 01127955)

BALANCE SHEET - continued
31 DECEMBER 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 24 April 2024 and were signed on its behalf by:





J Hall - Director


YCR DISTRIBUTION LIMITED (REGISTERED NUMBER: 01127955)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

YCR Distribution 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.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest pound.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - 2% to 25% on cost or reducing balance
Fixtures and fittings - 33% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.

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.


YCR DISTRIBUTION LIMITED (REGISTERED NUMBER: 01127955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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

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.

Trade debtors under invoice discounting arrangement
The company utilises an invoice discounting agreement in respect of trade debtors. The terms of the arrangement are such that the company is obliged to support any losses made by the factor. Therefore separate presentation of trade debtors and the related advances has been adopted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

YCR DISTRIBUTION LIMITED (REGISTERED NUMBER: 01127955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 59,063 97,021 156,084
Additions 6,400 249 6,649
At 31 December 2023 65,463 97,270 162,733
DEPRECIATION
At 1 January 2023 59,063 89,308 148,371
Charge for year 800 4,319 5,119
At 31 December 2023 59,863 93,627 153,490
NET BOOK VALUE
At 31 December 2023 5,600 3,643 9,243
At 31 December 2022 - 7,713 7,713

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 667,343 603,463
Amounts owed by group undertakings 5,893 5,893
Other debtors 31,044 34,135
704,280 643,491

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 70,000 70,000
Trade creditors 409,184 66,352
Taxation and social security 175,278 187,900
Other creditors 78,183 30,434
732,645 354,686

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 157,500 227,500

YCR DISTRIBUTION LIMITED (REGISTERED NUMBER: 01127955)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 96,080 84,974
Between one and five years 380,000 259,164
In more than five years 422,180 -
898,260 344,138

9. SECURED DEBTS

The following security is held ultimately by HSBC Bank Plc:

A Fixed Charge over all book and other debts, goodwill, uncalled capital, contract monies and intellectual property rights, and a First Floating Charge over all assets of the Company.

A personal guarantee limited to £35,000 has been provided by J Hall in respect of the coronavirus business interruption loan from HSBC Bank Plc.

10. CONTINGENT LIABILITIES

HSBC Bank Plc issued Letters of Credit totalling £160,366 (2022 - £nil) at the balance sheet date.