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Registration number: 14525444

York Promotions Ltd

Unaudited Financial Statements

for the Period from 6 December 2022 to 31 December 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

York Promotions Ltd

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

York Promotions Ltd

Company Information

Directors

E B Haaland

A Haaland

J A Hoyle

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

York Promotions Ltd

Statement of Financial Position as at 31 December 2023

Note

2023
£

Current assets

 

Debtors

5

5,143,548

Cash at bank and in hand

 

6,997,563

 

12,141,111

Creditors: Amounts falling due within one year

6

(2,792,856)

Total assets less current liabilities

 

9,348,255

Creditors: Amounts falling due after more than one year

6

(6,821,174)

Net assets

 

2,527,081

Capital and reserves

 

Called up share capital

100

Retained earnings

2,526,981

Shareholders' funds

 

2,527,081

For the financial period ending 31 December 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

York Promotions Ltd

Statement of Financial Position as at 31 December 2023

Approved and authorised by the Board on 27 August 2024 and signed on its behalf by:
 

.........................................

A Haaland

Director

.........................................

J A Hoyle

Director

Company registration number: 14525444

 

York Promotions Ltd

Notes to the Unaudited Financial Statements for the Period from 6 December 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU
 

The principal activity of the company is Other service activities not elsewhere classified

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company has net assets of £2,527,081 at 31 December 2023 including cash at bank of £6,997,563.

After making enquiries, the directors have confirmed that recourse to sufficient working capital is available to enable the company to continue to meet its obligations as they fall due. As such they have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the services provided in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax.

The company recognises revenue evenly over the period in which the image rights are being exploited.

 

York Promotions Ltd

Notes to the Unaudited Financial Statements for the Period from 6 December 2022 to 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Image rights

Straight line over length of contract

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Operating leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the period, was 0.

 

York Promotions Ltd

Notes to the Unaudited Financial Statements for the Period from 6 December 2022 to 31 December 2023

4

Intangible assets

Image Rights
 £

Total
£

Cost or valuation

Additions acquired separately

1

1

At 31 December 2023

1

1

Amortisation

Amortisation charge

1

1

At 31 December 2023

1

1

Carrying amount

At 31 December 2023

-

-

5

Debtors

2023
£

Other debtors

5,143,548

5,143,548

6

Creditors

Creditors: amounts falling due within one year

2023
£

Trade creditors

69,469

Accruals and deferred income

1,759,625

Other creditors

963,762

2,792,856

Creditors: amounts falling due after more than one year

2023
£

Deferred income

6,821,174

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £131,604.

 

York Promotions Ltd

Notes to the Unaudited Financial Statements for the Period from 6 December 2022 to 31 December 2023

8

Transactions with Directors

At 31 December 2023 an amount of £Nil was due to one of the directors. During the period there were advances of £189,548 and repayments of £1,141,309. Interest of £1,021 was charged at 2.25% per annum. There are no set terms in place.

9

Capital commitment

The company has entered into an agreement to acquire an interest in two aircraft for an amount of £2,155,342.