3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 11,884 3,732 1,223 4,955 6,929 8,152 xbrli:pure xbrli:shares iso4217:GBP 10693527 2023-01-01 2023-12-31 10693527 2023-12-31 10693527 2022-12-31 10693527 2022-01-01 2022-12-31 10693527 2022-12-31 10693527 2021-12-31 10693527 core:FurnitureFittings 2023-01-01 2023-12-31 10693527 bus:Director1 2023-01-01 2023-12-31 10693527 bus:Director2 2023-01-01 2023-12-31 10693527 core:WithinOneYear 2023-12-31 10693527 core:WithinOneYear 2022-12-31 10693527 core:FurnitureFittings 2022-12-31 10693527 core:FurnitureFittings 2023-12-31 10693527 core:ShareCapital 2023-12-31 10693527 core:ShareCapital 2022-12-31 10693527 core:RetainedEarningsAccumulatedLosses 2023-12-31 10693527 core:RetainedEarningsAccumulatedLosses 2022-12-31 10693527 core:FurnitureFittings 2022-12-31 10693527 bus:Director1 2022-12-31 10693527 bus:Director1 2023-12-31 10693527 bus:Director2 2022-12-31 10693527 bus:Director1 2021-12-31 10693527 bus:Director1 2022-12-31 10693527 bus:Director2 2021-12-31 10693527 bus:Director2 2022-12-31 10693527 bus:Director1 2022-01-01 2022-12-31 10693527 bus:Director2 2022-01-01 2022-12-31 10693527 bus:SmallEntities 2023-01-01 2023-12-31 10693527 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10693527 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10693527 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10693527 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 10693527
THINK YETI LIMITED
Filleted Unaudited Financial Statements
31 December 2023
THINK YETI LIMITED
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
6,929
8,152
Current assets
Stocks
4,550
4,625
Debtors
6
10,417
10,417
Cash at bank and in hand
18,143
10,951
--------
--------
33,110
25,993
Creditors: amounts falling due within one year
7
137,412
96,851
---------
--------
Net current liabilities
104,302
70,858
---------
--------
Total assets less current liabilities
( 97,373)
( 62,706)
--------
--------
Net liabilities
( 97,373)
( 62,706)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 97,473)
( 62,806)
--------
--------
Shareholders deficit
( 97,373)
( 62,706)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
M Bambrook
Director
THINK YETI LIMITED
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 27, Waterborne Walk, Leighton Buzzard, LU7 1DH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 5 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 January 2023 and 31 December 2023
11,884
--------
Depreciation
At 1 January 2023
3,732
Charge for the year
1,223
--------
At 31 December 2023
4,955
--------
Carrying amount
At 31 December 2023
6,929
--------
At 31 December 2022
8,152
--------
6. Debtors
2023
2022
£
£
Prepayments and accrued income
10,417
10,417
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
38,111
26,352
Accruals and deferred income
8,878
2,763
Social security and other taxes
10,907
9,303
Director loan accounts
71,900
58,433
Sundry Loans
7,616
---------
--------
137,412
96,851
---------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
M Bambrook
( 25,350)
( 46,550)
( 71,900)
V Hill
( 25,350)
25,350
--------
--------
--------
--------
( 50,700)
25,350
( 46,550)
( 71,900)
--------
--------
--------
--------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
M Bambrook
( 25,350)
( 3,866)
(29,216)
V Hill
( 25,350)
( 3,867)
(29,217)
--------
----
-------
--------
( 50,700)
( 7,733)
(58,433)
--------
----
-------
--------