Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01falsefalseThe elevation and facilitation of creative excellence.34falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03871034 2022-12-01 2023-11-30 03871034 2023-11-30 03871034 2021-12-01 2022-11-30 03871034 2022-11-30 03871034 c:Director1 2022-12-01 2023-11-30 03871034 d:Buildings d:ShortLeaseholdAssets 2022-12-01 2023-11-30 03871034 d:Buildings d:ShortLeaseholdAssets 2023-11-30 03871034 d:Buildings d:ShortLeaseholdAssets 2022-11-30 03871034 d:ComputerEquipment 2022-12-01 2023-11-30 03871034 d:ComputerEquipment 2023-11-30 03871034 d:ComputerEquipment 2022-11-30 03871034 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 03871034 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 03871034 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-11-30 03871034 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-30 03871034 d:Goodwill 2022-12-01 2023-11-30 03871034 d:Goodwill 2023-11-30 03871034 d:Goodwill 2022-11-30 03871034 d:CurrentFinancialInstruments 2023-11-30 03871034 d:CurrentFinancialInstruments 2022-11-30 03871034 d:Non-currentFinancialInstruments 2023-11-30 03871034 d:Non-currentFinancialInstruments 2022-11-30 03871034 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 03871034 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 03871034 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 03871034 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 03871034 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 03871034 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 03871034 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 03871034 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 03871034 d:ShareCapital 2023-11-30 03871034 d:ShareCapital 2022-11-30 03871034 d:RetainedEarningsAccumulatedLosses 2023-11-30 03871034 d:RetainedEarningsAccumulatedLosses 2022-11-30 03871034 c:FRS102 2022-12-01 2023-11-30 03871034 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 03871034 c:FullAccounts 2022-12-01 2023-11-30 03871034 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 03871034 2 2022-12-01 2023-11-30 03871034 d:Goodwill d:OwnedIntangibleAssets 2022-12-01 2023-11-30 03871034 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-12-01 2023-11-30 03871034 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure
Registered number: 03871034


YCN LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
YCN LIMITED
REGISTERED NUMBER: 03871034

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
10,414
11,571

Tangible assets
 5 
4,529
11,517

  
14,943
23,088

Current assets
  

Work in progress
  
1,950
3,500

Debtors: amounts falling due within one year
 6 
430,705
440,532

Cash at bank and in hand
 7 
91,320
103,969

  
523,975
548,001

Creditors: amounts falling due within one year
 8 
(407,908)
(410,038)

Net current assets
  
 
 
116,067
 
 
137,963

Total assets less current liabilities
  
131,010
161,051

Creditors: amounts falling due after more than one year
 9 
(15,000)
(88,415)

  

Net assets
  
116,010
72,636


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
115,910
72,536

  
116,010
72,636


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Page 1

 
YCN LIMITED
REGISTERED NUMBER: 03871034
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr N M Defty
Director
Date: 26 August 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
YCN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

YCN Limited is a private company limited by share capital, registered in England and Wales.
The company's registration number is 03871034. 
The company's registered office is 1 Vincent Square, London SW1P 2PN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
YCN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

  
2.4

Pensions

The company contributes to defined contribution plans for its employees.  A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity.  Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due.  Amounts not paid are shown in accruals as a liability in the Balance Sheet.  The assets of the plan are held separately from the company in independently administered funds.



 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

 
YCN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
20%
Straight-line
Computer equipment
-
33%
Straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stock and work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
YCN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 4).

Page 6

 
YCN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Intangible assets




Website
Domain names
Total

£
£
£



Cost


At 1 December 2022
13,007
11,571
24,578



At 30 November 2023

13,007
11,571
24,578



Amortisation


At 1 December 2022
13,007
-
13,007


Charge for the year on owned assets
-
1,157
1,157



At 30 November 2023

13,007
1,157
14,164



Net book value



At 30 November 2023
-
10,414
10,414



At 30 November 2022
-
11,571
11,571



Page 7

 
YCN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Tangible fixed assets





S/Term Leasehold Property
Computer equipment
Total

£
£
£



Cost or valuation


At 1 December 2022
42,756
124,883
167,639


Additions
-
1,219
1,219



At 30 November 2023

42,756
126,102
168,858



Depreciation


At 1 December 2022
38,732
117,390
156,122


Charge for the year on owned assets
4,024
4,183
8,207



At 30 November 2023

42,756
121,573
164,329



Net book value



At 30 November 2023
-
4,529
4,529



At 30 November 2022
4,024
7,493
11,517


6.


Debtors

2023
2022
£
£


Trade debtors
107,775
117,942

Other debtors
320,707
321,051

Prepayments and accrued income
2,223
1,539

430,705
440,532


Page 8

 
YCN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
91,320
103,969

91,320
103,969



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Other loans
73,596
90,945

Trade creditors
15,825
16,583

Corporation tax
139,912
149,589

Other taxation and social security
65,828
96,108

Other creditors
1,918
6,151

Accruals and deferred income
100,829
40,662

407,908
410,038



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
15,000
25,000

Other loans
-
63,415

15,000
88,415


Page 9

 
YCN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Other loans
73,596
90,945


83,596
100,945

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Other loans
-
63,415


10,000
73,415

Amounts falling due 2-5 years

Bank loans
5,002
15,000


5,002
15,000


98,598
189,360



11.


Pension commitments

During the year under review the company contributed £5,142 (2022 : £6,418) to a defined contribution scheme on behalf of it's employees and directors.  As at the Balance Sheet date, £177 (2022 : £608)  was outstanding and included within creditors due within one year.


12.


Related party transactions

Included in other debtors is an amount of £240,700 (2022 : £241,344)  owed to the company by the director Mr N M Defty.  Interest is being charged at the HMRC official rate.

 
Page 10