Registered number
07450308
Y & F PROPERTY LIMITED
Unaudited Filleted Accounts
30 November 2023
Y & F PROPERTY LIMITED
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Y & F PROPERTY LIMITED for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Y & F PROPERTY LIMITED for the year ended 30 November 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Fordhams & Co Limited
Chartered Accountants
Studio 6
6 Hornsey Street
London
N7 8GR
22 August 2024
Y & F PROPERTY LIMITED
Registered number: 07450308
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 384 480
Investments 4 575,341 575,341
575,725 575,821
Current assets
Debtors 5 254,989 234,509
Cash at bank and in hand 3,636 2,603
258,625 237,112
Creditors: amounts falling due within one year 6 (198,488) (188,350)
Net current assets 60,137 48,762
Total assets less current liabilities 635,862 624,583
Creditors: amounts falling due after more than one year 7 (294,018) (314,055)
Net assets 341,844 310,528
Capital and reserves
Called up share capital 100 100
Profit and loss account 341,744 310,428
Shareholders' funds 341,844 310,528
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 members have 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 T Bhad
Director
Approved by the board on 22 August 2024
Y & F PROPERTY LIMITED
Notes to the Accounts
for the year ended 30 November 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 represent rent received .
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 20% reducing balance
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 4,550
At 30 November 2023 4,550
Depreciation
At 1 December 2022 4,070
Charge for the year 96
At 30 November 2023 4,166
Net book value
At 30 November 2023 384
At 30 November 2022 480
4 Investments
Other
investments
£
Cost
At 1 December 2022 575,341
At 30 November 2023 575,341
5 Debtors 2023 2022
£ £
Amount owed by Associated companies 236,789 234,509
Other debtors 18,200 -
254,989 234,509
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 19,439 19,420
Amounts owed to Associated Companies 10,000 10,000
Taxation and social security costs 35,714 25,714
Other creditors 133,335 133,216
198,488 188,350
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 171,179 48,377
Other creditors 122,839 265,678
294,018 314,055
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 182,741 201,548
Bank loans are secured against the investment properties.
9 Other information
Y & F PROPERTY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Mehmuda House 212c
Romford Road
London
E7 9HY
Y & F PROPERTY LIMITED 07450308 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2022 MR T Bhad No description of principal activity 07450308 2021-12-01 2022-11-30 07450308 core:WithinOneYear 2022-11-30 07450308 core:AfterOneYear 2022-11-30 07450308 core:ShareCapital 2022-11-30 07450308 core:RetainedEarningsAccumulatedLosses 2022-11-30 07450308 2022-12-01 2023-11-30 07450308 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07450308 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07450308 bus:Director40 2022-12-01 2023-11-30 07450308 1 2022-12-01 2023-11-30 07450308 2 2022-12-01 2023-11-30 07450308 core:PlantMachinery 2022-12-01 2023-11-30 07450308 countries:England 2022-12-01 2023-11-30 07450308 bus:FRS102 2022-12-01 2023-11-30 07450308 bus:FullAccounts 2022-12-01 2023-11-30 07450308 2023-11-30 07450308 core:WithinOneYear 2023-11-30 07450308 core:AfterOneYear 2023-11-30 07450308 core:ShareCapital 2023-11-30 07450308 core:RetainedEarningsAccumulatedLosses 2023-11-30 07450308 core:PlantMachinery 2023-11-30 07450308 2022-11-30 07450308 core:PlantMachinery 2022-11-30 iso4217:GBP xbrli:pure