Registered number
SC710868
Onestop Yorkermill Limited
Filleted Accounts
30 September 2023
Onestop Yorkermill Limited
Registered number: SC710868
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 156,299 156,299
Tangible assets 4 53,543 -
209,842 156,299
Current assets
Stocks 71,128 15,183
Debtors 5 9,385 600
Cash at bank and in hand 76,598 8,477
157,111 24,260
Creditors: amounts falling due within one year 6 (123,078) (10,397)
Net current assets 34,033 13,863
Total assets less current liabilities 243,875 170,162
Creditors: amounts falling due after more than one year 7 (225,970) (168,299)
Net assets 17,905 1,863
Capital and reserves
Called up share capital 100 100
Profit and loss account 17,805 1,763
Shareholder's funds 17,905 1,863
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MR Malik Hayat
Director
Approved by the board on 28 August 2024
Onestop Yorkermill Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2022 156,299
At 30 September 2023 156,299
Amortisation
At 30 September 2023 -
Net book value
At 30 September 2023 156,299
At 30 September 2022 156,299
4 Tangible fixed assets
Improvement to property Fixture & fittings Total
£ £ £
Cost
Additions 37,249 18,104 55,353
At 30 September 2023 37,249 18,104 55,353
Depreciation
Charge for the year - 1,810 1,810
At 30 September 2023 - 1,810 1,810
Net book value
At 30 September 2023 37,249 16,294 53,543
5 Debtors 2023 2022
£ £
Trade debtors 529 -
Other debtors 8,856 600
9,385 600
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 119,717 9,984
Taxation and social security costs 3,361 413
123,078 10,397
7 Creditors: amounts falling due after one year 2023 2022
£ £
Directors loan account 225,970 168,299
8 Other information
Onestop Yorkermill Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
14 Yoker Mill Road
Glasgow
G13 4PF
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