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COMPANY REGISTRATION NUMBER: 13598184
YOP Property Investment Limited
Unaudited Financial Statements
30 September 2023
YOP Property Investment Limited
Director's Report
Year ended 30 September 2023
The director presents his report and the unaudited financial statements of the company for the year ended 30 September 2023 .
Principal activities
The principal activity of the company during the year was buying and selling of own real estate, other letting and operating of own or leased real estate and management of real estate on a fee or contract basis
Director
The director who served the company during the year was as follows:
Y F Yoboue
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 31 July 2024 and signed on behalf of the board by:
Y F Yoboue
Director
Registered office:
4 King Alfred Avenue
London
England
SE6 3HT
YOP Property Investment Limited
Statement of Comprehensive Income
Year ended 30 September 2023
Period from
Year to
1 Sep 21 to
30 Sep 23
30 Sep 22
Note
£
£
Turnover
4
20,025
28,000
Cost of sales
48,590
36,872
--------
--------
Gross loss
( 28,565)
( 8,872)
Administrative expenses
46,720
31,240
--------
--------
Operating loss
5
( 75,285)
( 40,112)
--------
--------
Loss before taxation
( 75,285)
( 40,112)
Tax on loss
--------
--------
Loss for the financial year and total comprehensive income
( 75,285)
( 40,112)
--------
--------
All the activities of the company are from continuing operations.
YOP Property Investment Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
321,860
322,358
Current assets
Cash at bank and in hand
12,059
1,580
Creditors: amounts falling due within one year
7
59,066
58,800
--------
--------
Net current liabilities
47,007
57,220
---------
---------
Total assets less current liabilities
274,853
265,138
Creditors: amounts falling due after more than one year
8
390,249
305,249
---------
---------
Net liabilities
( 115,396)
( 40,111)
---------
---------
YOP Property Investment Limited
Statement of Financial Position (continued)
30 September 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
9
1
1
Profit and loss account
10
( 115,397)
( 40,112)
---------
--------
Shareholders deficit
( 115,396)
( 40,111)
---------
--------
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of directors and authorised for issue on 31 July 2024 , and are signed on behalf of the board by:
Y F Yoboue
Director
Company registration number: 13598184
YOP Property Investment Limited
Statement of Cash Flows
Year ended 30 September 2023
2023
2022
£
£
Cash flows from operating activities
Loss for the financial year
( 75,285)
( 40,112)
Adjustments for:
Depreciation of tangible assets
498
664
--------
--------
Cash generated from operations
( 74,787)
( 39,448)
--------
--------
Net cash used in operating activities
( 74,787)
( 39,448)
--------
--------
Cash flows from investing activities
Purchase of tangible assets
( 323,022)
--------
---------
Net cash used in investing activities
( 323,022)
--------
---------
Cash flows from financing activities
Proceeds from issue of ordinary shares
1
Proceeds from borrowings
85,266
364,049
--------
---------
Net cash from financing activities
85,266
364,050
--------
---------
Net increase in cash and cash equivalents
10,479
1,580
Cash and cash equivalents at beginning of year
1,580
--------
-------
Cash and cash equivalents at end of year
12,059
1,580
--------
-------
YOP Property Investment Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 King Alfred Avenue, London, SE6 3HT, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Turnover
Turnover arises from:
Period from
Year to
1 Sep 21 to
30 Sep 23
30 Sep 22
£
£
Sale of goods
20,025
28,000
--------
--------
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Operating loss
Operating profit or loss is stated after charging:
Period from
Year to
1 Sep 21 to
30 Sep 23
30 Sep 22
£
£
Depreciation of tangible assets
498
664
----
----
6. Tangible assets
Freehold property
Equipment
Total
£
£
£
Cost
At 1 October 2022 and 30 September 2023
320,367
2,655
323,022
---------
-------
---------
Depreciation
At 1 October 2022
664
664
Charge for the year
498
498
---------
-------
---------
At 30 September 2023
1,162
1,162
---------
-------
---------
Carrying amount
At 30 September 2023
320,367
1,493
321,860
---------
-------
---------
At 30 September 2022
320,367
1,991
322,358
---------
-------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Director loan accounts
59,066
58,800
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
390,249
305,249
---------
---------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
10. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses .
11. Analysis of changes in net debt
At 1 Oct 2022
Cash flows
At 30 Sep 2023
£
£
£
Cash at bank and in hand
1,580
10,479
12,059
Debt due within one year
(58,800)
(266)
(59,066)
Debt due after one year
(305,249)
(85,000)
(390,249)
---------
--------
---------
( 362,469)
( 74,787)
( 437,256)
---------
--------
---------
12. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Y F Yoboue
----
----
----
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Y F Yoboue
( 58,800)
( 58,800)
----
--------
--------