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REGISTERED NUMBER: 11362105 (England and Wales)









Financial Statements for the Year Ended 31st May 2023

for

Yianni Motors Limited

Yianni Motors Limited (Registered number: 11362105)

Contents of the Financial Statements
for the Year Ended 31st May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Yianni Motors Limited

Company Information
for the Year Ended 31st May 2023







DIRECTORS: P Yianni
Mrs L S Yianni
R Allen





REGISTERED OFFICE: 54 Newberries Avenue
Radlett
WD7 7EP





REGISTERED NUMBER: 11362105 (England and Wales)





ACCOUNTANTS: Vitta Advisory Limited
54 Newberries Avenue
Radlett
WD7 7EP

Yianni Motors Limited (Registered number: 11362105)

Balance Sheet
31st May 2023

31/5/23 31/5/22
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 162,945 183,466

CURRENT ASSETS
Inventories 40,605 29,101
Debtors 5 49,088 51,680
Cash at bank 9,366 37,329
99,059 118,110
CREDITORS
Amounts falling due within one year 6 (238,171 ) (234,432 )
NET CURRENT LIABILITIES (139,112 ) (116,322 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,833

67,144

CREDITORS
Amounts falling due after more than one
year

7

(34,156

)

(38,970

)
NET (LIABILITIES)/ASSETS (10,323 ) 28,174

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings (60,323 ) (21,826 )
(10,323 ) 28,174

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Yianni Motors Limited (Registered number: 11362105)

Balance Sheet - continued
31st May 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 27th August 2024 and were signed on its behalf by:





P Yianni - Director


Yianni Motors Limited (Registered number: 11362105)

Notes to the Financial Statements
for the Year Ended 31st May 2023


1. STATUTORY INFORMATION

Yianni Motors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The Director believes, after due and careful enquiry, that the company has sufficient resources for its present requirements and is able to meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date of signing of these financial statements.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over the lease term
Plant and machinery - at varying rates on cost
Fixtures and fittings - at varying rates on cost
Computer equipment - at varying rates on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Yianni Motors Limited (Registered number: 11362105)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st June 2022
and 31st May 2023 19,651 55,016 130,635 21,629 226,931
DEPRECIATION
At 1st June 2022 2,856 10,753 20,646 9,210 43,465
Charge for year 1,371 4,632 11,060 3,458 20,521
At 31st May 2023 4,227 15,385 31,706 12,668 63,986
NET BOOK VALUE
At 31st May 2023 15,424 39,631 98,929 8,961 162,945
At 31st May 2022 16,795 44,263 109,989 12,419 183,466

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 27,737 1,644
Deferred tax asset 16,386 10,453
Prepayments and accrued income 4,965 39,583
49,088 51,680

Yianni Motors Limited (Registered number: 11362105)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Bank loans and overdrafts 24,331 8,443
Trade creditors 31,051 60,892
Tax 100 -
Social security and other taxes 8,237 2,009
Peoples pension 485 450
VAT 7,045 8,459
Other creditors 27,039 24,313
Directors' current accounts 121,683 121,683
Accruals and deferred income 18,200 8,183
238,171 234,432

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/23 31/5/22
£    £   
Bank loans - 1-2 years 34,156 38,970