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Registration number: 09939340

YSS Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

YSS Solutions Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

YSS Solutions Limited

(Registration number: 09939340)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

64,796

84,857

Current assets

 

Debtors

5

158,869

143,663

Cash at bank and in hand

 

69,101

33,933

 

227,970

177,596

Creditors: Amounts falling due within one year

6

(147,759)

(101,483)

Net current assets

 

80,211

76,113

Total assets less current liabilities

 

145,007

160,970

Creditors: Amounts falling due after more than one year

6

(47,046)

(69,290)

Provisions for liabilities

(16,199)

(16,123)

Net assets

 

81,762

75,557

Capital and reserves

 

Called up share capital

7

101

100

Retained earnings

81,661

75,457

Shareholders' funds

 

81,762

75,557

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.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

YSS Solutions Limited

(Registration number: 09939340)
Balance Sheet as at 31 January 2024

Approved and authorised by the Board on 22 July 2024 and signed on its behalf by:
 

.........................................
Mr DP Huzzard
Director

 

YSS Solutions Limited

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

1

General information

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

The address of its registered office is:
Paddock View
Spen Lane
Holme on Spalding Moor
York
YO43 4AQ

These financial statements were authorised for issue by the Board on 22 July 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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

YSS Solutions Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Motor vehicles

25% on cost

Plant and machinery

25% on cost

Computer equipment

25% on cost

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.

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.

 

YSS Solutions Limited

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

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

YSS Solutions Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2023 - 15).

 

YSS Solutions Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

4,602

121,421

126,023

Additions

262

20,348

20,610

Disposals

-

(11,500)

(11,500)

At 31 January 2024

4,864

130,269

135,133

Depreciation

At 1 February 2023

3,052

38,114

41,166

Charge for the year

981

31,544

32,525

Eliminated on disposal

-

(3,354)

(3,354)

At 31 January 2024

4,033

66,304

70,337

Carrying amount

At 31 January 2024

831

63,965

64,796

At 31 January 2023

1,550

83,307

84,857

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

80,360

63,872

Amounts owed by related parties

9

13,089

19,215

Prepayments

 

1,935

-

Other debtors

 

63,485

60,576

   

158,869

143,663

 

YSS Solutions Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

33,671

23,665

Trade creditors

 

5,598

3,151

Taxation and social security

 

92,521

64,311

Accruals and deferred income

 

13,194

-

Other creditors

 

2,775

10,356

 

147,759

101,483

Creditors include net obligations under hire purchase contracts which are secured of £24,822 (2023 - £14,816).

Creditors include unsecured bank loans of £8,849 (2023 - £8,849).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

47,046

69,290

Creditors include net obligations under hire purchase contracts which are secured of £31,229 (2023 - £45,473).

Creditors include unsecured bank loans of £15,817 (2023 - £23,817).

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

YSS Solutions Limited

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

15,817

23,817

Hire purchase contracts

31,229

45,473

47,046

69,290

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,849

8,850

Hire purchase contracts

24,822

14,815

33,671

23,665

9

Related party transactions

Summary of transactions with other related parties

Huzzard Blocks Ltd is a company registered in England number 13152363.
Mr DP Huzzard, a director and shareholder, is a director and shareholder of Huzzard Blocks Ltd.

 The company made a loan to Huzzard Blocks Ltd during the year that is repayable on demand. Interest has not been charged on the loan.

 

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

19,215

19,215

Repaid

(6,126)

(6,126)

At end of period

13,089

13,089

2023

Other related parties
£

Total
£

At start of period

26,632

26,632

Repaid

(7,417)

(7,417)

At end of period

19,215

19,215