5 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 46,944 2,916 49,860 32,485 4,349 36,834 13,026 14,459 xbrli:pure xbrli:shares iso4217:GBP 07090563 2022-12-01 2023-11-30 07090563 2023-11-30 07090563 2022-11-30 07090563 2021-12-01 2022-11-30 07090563 2022-11-30 07090563 core:FurnitureFittings 2022-12-01 2023-11-30 07090563 bus:Director1 2022-12-01 2023-11-30 07090563 core:FurnitureFittings 2022-11-30 07090563 core:FurnitureFittings 2023-11-30 07090563 core:WithinOneYear 2023-11-30 07090563 core:WithinOneYear 2022-11-30 07090563 core:AfterOneYear 2023-11-30 07090563 core:AfterOneYear 2022-11-30 07090563 core:ShareCapital 2023-11-30 07090563 core:ShareCapital 2022-11-30 07090563 core:RetainedEarningsAccumulatedLosses 2023-11-30 07090563 core:RetainedEarningsAccumulatedLosses 2022-11-30 07090563 core:FurnitureFittings 2022-11-30 07090563 bus:Director1 2022-11-30 07090563 bus:Director1 2023-11-30 07090563 bus:Director1 2021-11-30 07090563 bus:Director1 2022-11-30 07090563 bus:Director1 2021-12-01 2022-11-30 07090563 bus:SmallEntities 2022-12-01 2023-11-30 07090563 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07090563 bus:FullAccounts 2022-12-01 2023-11-30 07090563 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07090563 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30
COMPANY REGISTRATION NUMBER: 07090563
Yadav Properties Ltd
Filleted Unaudited Financial Statements
30 November 2023
Yadav Properties Ltd
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
13,026
14,459
Current assets
Debtors
6
45,304
45,811
Cash at bank and in hand
76,122
195,422
---------
---------
121,426
241,233
Creditors: amounts falling due within one year
7
68,749
146,164
---------
---------
Net current assets
52,677
95,069
--------
---------
Total assets less current liabilities
65,703
109,528
Creditors: amounts falling due after more than one year
8
15,522
25,598
Provisions
Taxation including deferred tax
3,257
3,615
--------
---------
Net assets
46,924
80,315
--------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
46,824
80,215
--------
--------
Shareholders funds
46,924
80,315
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
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 .
Yadav Properties Ltd
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 22 August 2024 , and are signed on behalf of the board by:
Mr R Yadav
Director
Company registration number: 07090563
Yadav Properties Ltd
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 Bruce Grove, London, N17 6RA, Uk.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of 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. 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. There are no significant judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Revenue recognition
Revenue, which is shown net of Value Added Tax, arises from sales commissions and is recognised on exchange of contracts. Revenue arising from letting commissions is recognised on the receipt of the rentals due from the tenants.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non- discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.
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:
Fixtures and fittings
-
25% reducing balance
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 3 ).
5. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 December 2022
46,944
46,944
Additions
2,916
2,916
--------
--------
At 30 November 2023
49,860
49,860
--------
--------
Depreciation
At 1 December 2022
32,485
32,485
Charge for the year
4,349
4,349
--------
--------
At 30 November 2023
36,834
36,834
--------
--------
Carrying amount
At 30 November 2023
13,026
13,026
--------
--------
At 30 November 2022
14,459
14,459
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
7,602
32,805
Other debtors
37,702
13,006
--------
--------
45,304
45,811
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,123
9,874
Corporation tax
6,516
19,923
Social security and other taxes
17,080
28,009
Other creditors
35,030
88,358
--------
---------
68,749
146,164
--------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
15,522
25,598
--------
--------
Included in creditors amounts falling due after more than one year is the Bounce Back Loan of £15,522(2022: £25,598). The loan is 100% guaranteed by the government and the interest rate is fixed at 2.5% per annum.
9. Government grants
The amounts recognised in the financial statements for government grants are as follows:
2023
2022
£
£
Recognised in other operating income:
Government grants recognised directly in income
161
----
----
10. 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
Amounts repaid
Balance outstanding
£
£
£
£
Mr R Yadav
( 42,508)
69,025
26,517
--------
--------
----
--------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr R Yadav
68,700
( 42,508)
( 68,700)
( 42,508)
--------
--------
--------
--------
The loan to the director of £26,517 was repaid on 18 June 2024.