Registered number
09894239
Yardsale Ltd
Filleted Accounts
30 November 2023
Yardsale Ltd
Company Information
Directors
Mr D. Kreitem
Accountants
K. Amos & Co.
Chartered Certified Accountants
Unit 50b,
St Olav's Court, City Business Centre,
Lower Road,
London,
SE16 2XB.
Bankers
National Westminster Bank PLC
Registered office
Unit 20,
Greenwich Centre Business Park,
53 Norman Road,
London,
SE10 9QF.
Registered number
09894239
Yardsale Ltd
Registered number: 09894239
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 298 2,724
Current assets
Stocks 232,352 121,370
Debtors 4 282,843 160,427
Cash at bank and in hand 1,248 95,463
516,443 377,260
Creditors: amounts falling due within one year 5 (431,008) (333,212)
Net current assets/(liabilities) 85,435 44,048
Total assets less current liabilities 85,733 46,772
Creditors: amounts falling due after more than one year 6 (60,879) (51,527)
Net assets/(liabilities) 24,854 (4,755)
Capital and reserves
Called up share capital 1 1
Profit and loss account 24,853 (4,756)
Shareholders' funds 24,854 (4,755)
The directors are 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 directors acknowledge their 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 D. Kreitem
Director
Approved by the board on 5 August 2024
Yardsale Ltd
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 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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 15,235 5,568 20,803
At 30 November 2023 15,235 5,568 20,803
Depreciation
At 1 December 2022 13,923 4,156 18,079
Charge for the year 1,312 1,114 2,426
At 30 November 2023 15,235 5,270 20,505
Net book value
At 30 November 2023 - 298 298
At 30 November 2022 1,312 1,412 2,724
4 Debtors 2023 2022
£ £
Trade debtors 282,843 160,427
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 25,307 -
Trade creditors 349,115 292,515
Taxation and social security costs 16,721 17,807
Other creditors 39,865 22,890
431,008 333,212
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 60,879 51,527
7 Other information
Yardsale Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 20,
Greenwich Centre Business Park,
53 Norman Road,
London,
SE10 9QF.
Yardsale Ltd 09894239 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2024 No description of principal activity 09894239 2021-12-01 2022-11-30 09894239 core:WithinOneYear 2022-11-30 09894239 core:AfterOneYear 2022-11-30 09894239 core:ShareCapital 2022-11-30 09894239 core:RetainedEarningsAccumulatedLosses 2022-11-30 09894239 2022-12-01 2023-11-30 09894239 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 09894239 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 09894239 bus:Director1 2022-12-01 2023-11-30 09894239 1 2022-12-01 2023-11-30 09894239 2 2022-12-01 2023-11-30 09894239 core:PlantMachinery 2022-12-01 2023-11-30 09894239 core:Vehicles 2022-12-01 2023-11-30 09894239 countries:England 2022-12-01 2023-11-30 09894239 bus:FRS102 2022-12-01 2023-11-30 09894239 bus:FilletedAccounts 2022-12-01 2023-11-30 09894239 2023-11-30 09894239 core:WithinOneYear 2023-11-30 09894239 core:AfterOneYear 2023-11-30 09894239 core:ShareCapital 2023-11-30 09894239 core:RetainedEarningsAccumulatedLosses 2023-11-30 09894239 core:PlantMachinery 2023-11-30 09894239 core:Vehicles 2023-11-30 09894239 2022-11-30 09894239 core:PlantMachinery 2022-11-30 09894239 core:Vehicles 2022-11-30 iso4217:GBP xbrli:pure