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Registered Number: 12270923


 

 

 

YOGI NEWS & OFF LICENCE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Director Yogesh Patel
Registered Number 12270923
Registered Office 129/131 Long Lane
Chadderton
OL9 8AY
Accountants Sai No8 Ltd
5 Lower Broadacre
Stalybridge
Manchester
SK15 2UE
Secretary Yogesh Patel
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 July 2020.
Principal activities
Principal activity of the company during the financial year was off licence and grocers
Director
The director who served the company throughout the year was as follows:
Yogesh Patel
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Yogesh Patel
Director

Date approved: 12 September 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 July 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Sai No8 Ltd
31 July 2024



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

Sai No8 Ltd

5 Lower Broadacre
Stalybridge
Manchester
SK15 2UE
12 September 2024
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 4 17,250    18,400 
Tangible fixed assets 5 11,898    9,681 
29,148    28,081 
Current assets      
Stocks 6 48,555    39,655 
Debtors 7 20,000    20,000 
Cash at bank and in hand 199,361    203,135 
267,916    262,790 
Creditors: amount falling due within one year 8 (168,307)   (178,744)
Net current assets 99,609    84,046 
 
Total assets less current liabilities 128,757    112,127 
Net assets 128,757    112,127 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 128,657    112,027 
Shareholders' funds 128,757    112,127 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 12 September 2024 and were signed by:


-------------------------------
Yogesh Patel
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 August 2022 100  80,015  80,115 
Profit for the year 47,012  47,012 
Total comprehensive income for the year 47,012  47,012 
Dividends (15,000) (15,000)
Total investments by and distributions to owners (15,000) (15,000)
At 31 July 2023 100  112,027  112,127 
At 01 August 2023 100  112,027  112,127 
Profit for the year 31,630  31,630 
Total comprehensive income for the year 31,630  31,630 
Dividends (15,000) (15,000)
Total investments by and distributions to owners (15,000) (15,000)
At 31 July 2024 100  128,657  128,757 
5
General Information
Yogi News & Off Licence Limited is a private company, limited by shares, registered in , registration number 12270923, registration address 129/131 Long Lane, Chadderton, OL9 8AY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20 Reducing Balance
Fixtures and Fittings 15 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Staff Costs

2024
£
  2023
£
Wages and salaries 32,529    37,072 
32,529    37,072 
 
Average number of employees during the year Number   Number
Sales 2    1 
 

3.

Average number of employees

Average number of employees during the year was 2 (2023 : 1).
4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 August 2023 23,000    23,000 
Additions  
Disposals  
At 31 July 2024 23,000    23,000 
Amortisation
At 01 August 2023 4,600    4,600 
Charge for year 1,150    1,150 
On disposals  
At 31 July 2024 5,750    5,750 
Net book values
At 31 July 2024 17,250    17,250 
At 31 July 2023 18,400    18,400 


5.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 August 2023 14,156    38,180    52,336 
Additions   4,600    4,600 
Disposals    
At 31 July 2024 14,156    42,780    56,936 
Depreciation
At 01 August 2023 9,324    33,331    42,655 
Charge for year 966    1,417    2,383 
On disposals    
At 31 July 2024 10,290    34,748    45,038 
Net book values
Closing balance as at 31 July 2024 3,866    8,032    11,898 
Opening balance as at 01 August 2023 4,832    4,849    9,681 


6.

Stocks

2024
£
  2023
£
Stocks 48,555    39,655 
48,555    39,655 

7.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors-Interest Free Loan 20,000    20,000 
20,000    20,000 

8.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 2,555    2,555 
Corporation Tax 8,046    12,160 
Accrued Expenses 2,350    2,350 
Directors' Current Accounts 145,402    151,402 
VAT 9,954    10,277 
168,307    178,744 

6