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REGISTERED NUMBER: 00468300 (England and Wales)










YOUNG BROS LTD

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






YOUNG BROS LTD (REGISTERED NUMBER: 00468300)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Report of the Directors 2

Statement of Financial Position 3

Notes to the Financial Statements 5


YOUNG BROS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: A C Young
A F Young
A M Young





SECRETARY: A F Young





REGISTERED OFFICE: The Ashes
Llandissillio
Clynderwen
Pembrokeshire
SA66 7TT





REGISTERED NUMBER: 00468300 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Chartered Accountants
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP

YOUNG BROS LTD (REGISTERED NUMBER: 00468300)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MAY 2024

The directors present their report with the financial statements of the company for the year ended 31 May 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2023 to the date of this report.

A C Young
A F Young
A M Young

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A F Young - Director


30 August 2024

YOUNG BROS LTD (REGISTERED NUMBER: 00468300)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,583,943 1,565,691
Investments 6 10,995 10,285
Investment property 7 745,235 697,921
2,340,173 2,273,897

CURRENT ASSETS
Stocks 2,726,257 3,751,277
Debtors 8 4,450,218 2,164,948
Cash in hand 1,730,644 2,004,793
8,907,119 7,921,018
CREDITORS
Amounts falling due within one year 9 4,015,515 3,794,811
NET CURRENT ASSETS 4,891,604 4,126,207
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,231,777

6,400,104

PROVISIONS FOR LIABILITIES 331,666 325,771
NET ASSETS 6,900,111 6,074,333

CAPITAL AND RESERVES
Called up share capital 4,425 4,425
Retained earnings 6,895,686 6,069,908
SHAREHOLDERS' FUNDS 6,900,111 6,074,333

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

YOUNG BROS LTD (REGISTERED NUMBER: 00468300)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:




A F Young - Director A C Young - Director




A M Young - Director


YOUNG BROS LTD (REGISTERED NUMBER: 00468300)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Young Bros Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The company adopted FRS 102 from 1 May 2017 onwards. FRS102 requires revaluation of investments to pass through the income and expenditure account. This has been adjusted accordingly.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the period ended 31 May 2022 have been prepared using the going concern basis of accounting.

Turnover
Turnover represents invoiced and completed contracts, excluding value added tax. Long term contracts are invoiced monthly.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and Machinery - 15% reducing balance

Assets over £1,000 are capitalised and impairment reviews are carried out annually. Freehold property is held at cost less accumulated depreciation.

Fixed asset investments
Fixed asset investments are included at market value at balance sheet date.

Investment property
The properties have been valued at open market value by the directors, reflecting comparable valuations in the local area. The valuations were carried out in 2020 and are equal to historic cost. Investment properties are not depreciated as they are held for their investment potential.

Work in progress
Work in progress represents contracts that have been completed, but not invoiced at the year end and includes profits earned. The sales application is included with debtors. Work in progress is included in stocks and work in progress


YOUNG BROS LTD (REGISTERED NUMBER: 00468300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 41 ) .

YOUNG BROS LTD (REGISTERED NUMBER: 00468300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property Machinery Totals
£    £    £   
COST
At 1 June 2023 271,906 2,763,239 3,035,145
Additions - 346,358 346,358
Disposals - (234,915 ) (234,915 )
At 31 May 2024 271,906 2,874,682 3,146,588
DEPRECIATION
At 1 June 2023 25,732 1,443,722 1,469,454
Charge for year 4,344 236,847 241,191
Eliminated on disposal - (148,000 ) (148,000 )
At 31 May 2024 30,076 1,532,569 1,562,645
NET BOOK VALUE
At 31 May 2024 241,830 1,342,113 1,583,943
At 31 May 2023 246,174 1,319,517 1,565,691

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 June 2023 10,285
Share of profit/(loss) 710
At 31 May 2024 10,995
NET BOOK VALUE
At 31 May 2024 10,995
At 31 May 2023 10,285

Cost or valuation at 31 May 2024 is represented by:

Other
investments
£   
Valuation in 2016 9,250
Valuation in 2018 7,113
Valuation in 2019 1,326
Valuation in 2020 (3,167 )
Valuation in 2021 1,025
Valuation in 2022 (5,262 )
Valuation in 2023 710
10,995

YOUNG BROS LTD (REGISTERED NUMBER: 00468300)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. INVESTMENT PROPERTY
Total
£   
COST
At 1 June 2023 697,921
Additions 47,314
At 31 May 2024 745,235
NET BOOK VALUE
At 31 May 2024 745,235
At 31 May 2023 697,921

The properties have been valued at open market value by the directors, reflecting comparable valuations in the local area. The valuations were carried out in 2020 and are equal to historic cost. Investment properties are not depreciated as they are held for their investment potential.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 4,099,814 1,815,970
Other debtors 350,404 348,978
4,450,218 2,164,948

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade creditors 810,086 540,238
Taxation and social security 973,807 340,529
Other creditors 2,231,622 2,914,044
4,015,515 3,794,811

10. RELATED PARTY DISCLOSURES

The company operates a Self Administered Pension Plan (SAPP) for its directors. During the year, the company paid rent amounting to £25,500 (2023 £25,500) to the SAPP.