Registered number
05371471
The Yes Yes Company Limited
Unaudited Filleted Accounts
31 December 2023
The Yes Yes Company Limited
Statement of Financial Position
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 28,223 28,740
Investments 5 421 421
28,644 29,161
Current assets
Stocks 506,864 447,721
Debtors 6 998,221 675,829
Cash at bank and in hand 28,456 45,681
1,533,541 1,169,231
Creditors: amounts falling due within one year 7 (864,876) (480,840)
Net current assets 668,665 688,391
Total assets less current liabilities 697,309 717,552
Creditors: amounts falling due after more than one year 8 (104,167) (154,167)
Provisions for liabilities - (9,633)
Net assets 593,142 553,752
Capital and reserves
Called up share capital 200,100 200,100
Profit and loss account 393,042 353,652
Shareholders' funds 593,142 553,752
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.
Sarah Brooks
Director
Approved by the board on 11 September 2024
Company registration number: 05371471
The Yes Yes Company Limited
Notes to the Accounts
for the year ended 31 December 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of the revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Provision is made for anticipated returns where goods are supplied on a sale or return basis.
Going Concern
The financial statements have been prepared on a going concern basis. The Directors have prepared forecasts for a period greater than one year from the date of signature of the financial statements and have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future.
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:
Plant and machinery 20% straight line
Office equipment 25% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. 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.
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.
Provisions
Provisions (i.e. 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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Profit before taxation 2023 2022
£ £
Profit before taxation is stated after charging:
Depreciation of tangible assets 15,570 15,744
15,570 15,744
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 29 26
4 Tangible fixed assets
Plant and machinery Office equipment Total
£ £ £
Cost
At 1 January 2023 10,212 58,510 68,722
Additions 5,377 9,676 15,053
At 31 December 2023 15,589 68,186 83,775
Depreciation
At 1 January 2023 602 39,380 39,982
Charge for the year 2,849 12,721 15,570
At 31 December 2023 3,451 52,101 55,552
Net book value
At 31 December 2023 12,138 16,085 28,223
At 31 December 2022 9,610 19,130 28,740
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 421
At 31 December 2023 421
The company owns 100% of the issued share capital of Yes Yes Europe Sarl, a company incorporated in France. The directors believe that the value of this investment is not less than cost.
6 Debtors 2023 2022
£ £
Trade debtors 360,116 189,825
Amounts owed by group undertakings and undertakings in which the company has a participating interest 529,294 404,785
Other debtors 108,811 81,219
998,221 675,829
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 50,000 50,000
Trade creditors 397,778 243,309
Amounts owed to group undertakings and undertakings in which the company has a participating interest 86,908 107,377
Taxation and social security costs 63,249 56,691
Other creditors 266,941 23,463
864,876 480,840
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 104,167 154,167
Bank loans and overdrafts includes 104,167 in respect of a loan under the Coronavirus Business Interruption Loan Scheme ('CBILS') (2022: £154,167). The CBILS is guaranteed by the government, bears interest at 3.8% over base rate and is repayable over 6 years.
9 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 154,167 204,167
Bank loans and overdrafts includes 154,167 in respect of a loan under the Coronavirus Business Interruption Loan Scheme ('CBILS') (2022: £204,167). The CBILS is guaranteed by the government, bears interest at 3.8% over base rate and is repayable over 6 years.
10 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 126,875 199,375
11 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Sarah Brooks
Loan 9,610 24 (6,000) 3,634
9,610 24 (6,000) 3,634
12 Controlling party
The ultimate holding company is Yes Syzygy Limited which is incorporated in England and Wales under number 05371196.
13 Other information
The Yes Yes Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
Meadow Barn, Norton Farm
Selborne Road
Alton
Hampshire
GU34 3NB
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