Company Registration No. SC548854 (Scotland)
Yo Soy Group Limited
Unaudited accounts
for the year ended 31 October 2023
Yo Soy Group Limited
Unaudited accounts
Contents
Yo Soy Group Limited
Company Information
for the year ended 31 October 2023
Directors
Mr AJ Rennie
Mr TJ O'Brien
Company Number
SC548854 (Scotland)
Registered Office
41 Lothian Street
Edinburgh
EH1 1HB
Accountants
Added Accounting Ltd
8 Whitehouse Crescent
Gorebridge
EH23 4FT
Yo Soy Group Limited
Statement of financial position
as at 31 October 2023
Tangible assets
35,466
45,874
Cash at bank and in hand
80,521
124,408
Creditors: amounts falling due within one year
(193,131)
(168,226)
Net current assets
118,503
84,365
Total assets less current liabilities
153,969
130,239
Creditors: amounts falling due after more than one year
(15,175)
(24,867)
Net assets
138,794
105,372
Called up share capital
1,000
1,000
Capital contribution reserve
101,336
101,336
Profit and loss account
36,458
3,036
Shareholders' funds
138,794
105,372
For the year ending 31 October 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 directors acknowledge their 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 of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by
Mr AJ Rennie
Director
Company Registration No. SC548854
Yo Soy Group Limited
Notes to the Accounts
for the year ended 31 October 2023
Yo Soy Group Limited is a private company, limited by shares, registered in Scotland, registration number SC548854. The registered office is 41 Lothian Street, Edinburgh, EH1 1HB .
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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:
Plant & machinery
20% on Straight Line
Motor vehicles
20% on Straight Line
Fixtures & fittings
20% on Straight Line
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Yo Soy Group Limited
Notes to the Accounts
for the year ended 31 October 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2022
90,916
6,800
72,900
170,616
Additions
7,889
-
7,495
15,384
Disposals
(6,659)
-
-
(6,659)
At 31 October 2023
92,146
6,800
80,395
179,341
At 1 November 2022
63,989
4,447
56,306
124,742
Charge for the year
16,442
1,167
6,629
24,238
On disposals
(5,105)
-
-
(5,105)
At 31 October 2023
75,326
5,614
62,935
143,875
At 31 October 2023
16,820
1,186
17,460
35,466
At 31 October 2022
26,927
2,353
16,594
45,874
Amounts falling due within one year
Trade debtors
2,296
18,067
Amounts due from group undertakings etc.
167,030
33,734
Accrued income and prepayments
10,500
35,000
Other debtors
25,875
25,875
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,658
10,966
Trade creditors
76,882
77,753
Taxes and social security
96,142
74,649
Other creditors
8,686
2,578
7
Creditors: amounts falling due after more than one year
2023
2022
This loan is a Covid 19 Bounce Back Loan.
Yo Soy Group Limited
Notes to the Accounts
for the year ended 31 October 2023
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
9
Average number of employees
During the year the average number of employees was 28 (2022: 31).