4 false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2021 - FRS102_2021 100,000 100,000 xbrli:pure xbrli:shares iso4217:GBP 04706576 2022-12-01 2023-11-30 04706576 2023-11-30 04706576 2022-11-30 04706576 2021-12-01 2022-11-30 04706576 2022-11-30 04706576 core:NetGoodwill 2022-12-01 2023-11-30 04706576 core:PlantMachinery 2022-12-01 2023-11-30 04706576 core:MotorVehicles 2022-12-01 2023-11-30 04706576 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 04706576 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 04706576 bus:OrdinaryShareClass3 2022-12-01 2023-11-30 04706576 bus:OrdinaryShareClass4 2022-12-01 2023-11-30 04706576 bus:Director1 2022-12-01 2023-11-30 04706576 core:NetGoodwill 2023-11-30 04706576 core:PlantMachinery 2022-11-30 04706576 core:MotorVehicles 2022-11-30 04706576 core:PlantMachinery 2023-11-30 04706576 core:MotorVehicles 2023-11-30 04706576 core:WithinOneYear 2023-11-30 04706576 core:WithinOneYear 2022-11-30 04706576 core:ShareCapital 2023-11-30 04706576 core:ShareCapital 2022-11-30 04706576 core:RetainedEarningsAccumulatedLosses 2023-11-30 04706576 core:RetainedEarningsAccumulatedLosses 2022-11-30 04706576 core:PlantMachinery 2022-11-30 04706576 core:MotorVehicles 2022-11-30 04706576 bus:SmallEntities 2022-12-01 2023-11-30 04706576 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 04706576 bus:FullAccounts 2022-12-01 2023-11-30 04706576 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 04706576 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04706576 bus:OrdinaryShareClass1 2023-11-30 04706576 bus:OrdinaryShareClass1 2022-11-30 04706576 bus:OrdinaryShareClass2 2023-11-30 04706576 bus:OrdinaryShareClass2 2022-11-30 04706576 bus:OrdinaryShareClass3 2023-11-30 04706576 bus:OrdinaryShareClass3 2022-11-30 04706576 bus:OrdinaryShareClass4 2023-11-30 04706576 bus:OrdinaryShareClass4 2022-11-30 04706576 bus:AllOrdinaryShares 2023-11-30 04706576 bus:AllOrdinaryShares 2022-11-30
COMPANY REGISTRATION NUMBER: 04706576
Alan J. Young Limited
Filleted Unaudited Financial Statements
30 November 2023
Alan J. Young Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
2,001
2,231
Current assets
Debtors
7
27,533
9,715
Investments
8
207,929
235,724
Cash at bank and in hand
131,458
296,091
---------
---------
366,920
541,530
Creditors: amounts falling due within one year
9
22,809
45,966
---------
---------
Net current assets
344,111
495,564
---------
---------
Total assets less current liabilities
346,112
497,795
Provisions
Taxation including deferred tax
380
424
---------
---------
Net assets
345,732
497,371
---------
---------
Capital and reserves
Called up share capital
10
10,003
10,003
Profit and loss account
335,729
487,368
---------
---------
Shareholders funds
345,732
497,371
---------
---------
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Alan J. Young Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 21 August 2024 , and are signed on behalf of the board by:
A. J. Young
Director
Company registration number: 04706576
Alan J. Young Limited
Notes to the Financial Statements
Year ended 30 November 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 6, The Linen Yard, South Street, Crewkerne, Somerset, TA18 8AB. The principal place of business is The Lodge, Penn Hill, Yeovil, Somerset, BA20 1SF.
2. Statement of compliance
These financial statements have been prepared in accordance with FRS 102 taking advantage of the disclosure exemptions of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
-
10% straight line
Goodwill has been fully amortised.
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.
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
Motor Vehicles
-
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
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. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss. 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
100,000
---------
Amortisation
At 1 December 2022 and 30 November 2023
100,000
---------
Carrying amount
At 30 November 2023
---------
At 30 November 2022
---------
6. Tangible assets
Equipment
Motor vehicles
Total
£
£
£
Cost
At 1 December 2022
23,557
8,990
32,547
Additions
453
453
Disposals
( 5,306)
( 5,306)
--------
-------
--------
At 30 November 2023
18,704
8,990
27,694
--------
-------
--------
Depreciation
At 1 December 2022
22,526
7,790
30,316
Charge for the year
365
300
665
Disposals
( 5,288)
( 5,288)
--------
-------
--------
At 30 November 2023
17,603
8,090
25,693
--------
-------
--------
Carrying amount
At 30 November 2023
1,101
900
2,001
--------
-------
--------
At 30 November 2022
1,031
1,200
2,231
--------
-------
--------
7. Debtors
2023
2022
£
£
Trade debtors
7,015
3,875
Other debtors
20,518
5,840
--------
-------
27,533
9,715
--------
-------
8. Investments
2023
2022
£
£
Other investments
207,929
235,724
---------
---------
Listed current asset investments are included at fair value. The original cost of these being £211,893.
9. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
767
525
Corporation tax
22,893
Social security and other taxes
17,116
17,660
Other creditors
4,926
4,888
--------
--------
22,809
45,966
--------
--------
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
A Ordinary shares of £ 1 each
9,000
9,000
9,000
9,000
B Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
C Ordinary shares of £ 1 each
1
1
1
1
D Ordinary shares of £ 1 each
2
2
2
2
--------
--------
--------
--------
10,003
10,003
10,003
10,003
--------
--------
--------
--------
11. Related party transactions
The company trades from premises owned by a director, A. J. Young , who made them available without charge, although the company undertakes any remedial repairs required.