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Registered Number: 08445085
England and Wales

 

 

 

YARROW ART & DESIGN LIMITED


Filleted Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 30 April 2024
Director James Yarrow
Registered Number 08445085
Registered Office Bristol North Baths c/o Bond & Co Accountants Limited
Gloucester Road
Bristol
BS7 8BN
Accountants Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
1
Director's report and financial statements
The director presents his annual report and the financial statements for the period ended 30 April 2024.
Principal activities
Principal activity of the company during the financial period was that of sale of furniture.
Director
The director who served the company throughout the period was as follows:
James Yarrow
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
James Yarrow
Director

Date approved: 01 August 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of Yarrow Art & Design Limited for the period ended 30 April 2024. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Yarrow Art & Design Limited for the period ended 30 April 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/. This report is made solely to the Board of Directors of Yarrow Art & Design Limited, as a body, in accordance with the terms of our engagement letter dated 19 December 2019. Our work has been undertaken solely to prepare for your approval the accounts of Yarrow Art & Design Limited and state those matters that we have agreed to state to the Board of Directors of Yarrow Art & Design Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Yarrow Art & Design Limited and its Board of Directors as a body for our work or for this report. It is your duty to ensure that Yarrow Art & Design Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Yarrow Art & Design Limited. You consider that Yarrow Art & Design Limited is exempt from the statutory audit requirement for the year.  We have not been instructed to carry out an audit or a review of the accounts of Yarrow Art & Design Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts 30 April 2024.


Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
01 August 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3   4,466 
  4,466 
Current assets      
Stocks 4   46,057 
Debtors 5 71,442    17,822 
Cash at bank and in hand 584,806    455,757 
656,248    519,636 
Creditors: amount falling due within one year 6 (67,617)   (83,309)
Net current assets 588,631    436,327 
 
Total assets less current liabilities 588,631    440,793 
Provisions for liabilities 7   (849)
Net assets 588,631    439,944 
 

Capital and reserves
     
Called up share capital 75    75 
Profit and loss account 588,556    439,869 
Shareholders' funds 588,631    439,944 
 


For the period ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 01 August 2024 and were signed by:


-------------------------------
James Yarrow
Director
4
General Information
Yarrow Art & Design Limited is a private company, limited by shares, registered in England and Wales, registration number 08445085, registration address Bristol North Baths c/o Bond & Co Accountants Limited, Gloucester Road, Bristol, BS7 8BN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The director has decided to cease trading. These are final trading accounts and the
company will soon be dissolved.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 April 2023 14,197    14,197 
Additions  
Disposals (14,197)   (14,197)
At 30 April 2024  
Depreciation
At 01 April 2023 9,731    9,731 
Charge for period 2,883    2,883 
On disposals (12,614)   (12,614)
At 30 April 2024  
Net book values
Closing balance as at 30 April 2024  
Opening balance as at 01 April 2023 4,466    4,466 


4.

Stocks

2024
£
  2023
£
Stocks   46,057 
  46,057 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 6,644    17,822 
Other Debtors 60,000   
VAT 4,798   
71,442    17,822 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 65,101    35,162 
PAYE & Social Security   724 
Accrued Expenses 2,160    900 
Other Creditors 71    1,401 
Director's Current Accounts 285    19,840 
VAT   25,282 
67,617    83,309 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax   849 
  849 

8.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
 2023
£
 2024
£
 2023
£
James Yarrow Limited50,000 
Yarrow Containers Direct Limited10,000 

A company in which James Yarrow is a director and shareholder. Both loans were fully repaid on 12/07/2024.
5