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REGISTERED NUMBER: 04943654 (England and Wales)
























FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

YORK ASSOCIATES INTERNATIONAL LIMITED

YORK ASSOCIATES INTERNATIONAL LIMITED (REGISTERED NUMBER: 04943654)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


YORK ASSOCIATES INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: R W Dignen
I F Faure
S Le Gault
S Bradshaw
J Raine



SECRETARY: R W Dignen



REGISTERED OFFICE: Peasholme House
St Saviours Place
York
YO1 7PJ



REGISTERED NUMBER: 04943654 (England and Wales)



SENIOR STATUTORY AUDITOR: Rachel Davis BA FCA



AUDITORS: Just Audit Limited
Chartered Accountants & Statutory
Auditors
Strelley Hall, Main Street
Strelley, Nottingham
NG8 6PE

YORK ASSOCIATES INTERNATIONAL LIMITED (REGISTERED NUMBER: 04943654)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,600 40,488
Tangible assets 5 17,018 1,254
Investments 6 102 102
40,720 41,844

CURRENT ASSETS
Debtors 7 801,464 567,241
Cash at bank and in hand 136,310 269,871
937,774 837,112
CREDITORS
Amounts falling due within one year 8 761,398 560,402
NET CURRENT ASSETS 176,376 276,710
TOTAL ASSETS LESS CURRENT LIABILITIES 217,096 318,554

CREDITORS
Amounts falling due after more than one year 9 (23,822 ) (33,830 )

PROVISIONS FOR LIABILITIES (3,233 ) (238 )
NET ASSETS 190,041 284,486

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Share premium 98,550 98,550
Other reserves 300 300
Capital contribution reserves - 2,490
Retained earnings 89,191 181,146
SHAREHOLDERS' FUNDS 190,041 284,486

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 24th September 2024 and were signed on its behalf by:





S Le Gault - Director


YORK ASSOCIATES INTERNATIONAL LIMITED (REGISTERED NUMBER: 04943654)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

York Associates International Limited 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 financial statements have been prepared under the historical cost convention.

Turnover
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.

Income is recognised when the right to consideration becomes due.

Goodwill and intangible fixed assets
Goodwill amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

- Goodwill from transfer of Partnership on 31/12/2003 - 20 years straight line basis.

From the date of transition to FRS102 Section 1A 9 years remained and it was not considered that any change was required to the amortisation policy.

- Goodwill from purchase of an existing trade on 29/04/2016 is amortised over 10 years on a straight line basis. This is considered a reasonable estimate of useful life by the board.

Goodwill and Intangible assets are measured at cost. After initial recognition, Goodwill and Intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment.

Deferred consideration for the purchase of goodwill which has not yet been paid has been estimated and included in the overall Goodwill value.

Business combinations, the value of the separate elements have only been included to the extent that they can be reliably valued.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

The tangible fixed assets are originally recognised at cost, the residual values and useful economic lives are reviewed at the end of each accounting period.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Treatment of loans from group undertakings
Loans received from the parent company have been recognised at the present value of the cash flows using a market rate of interest of 9%.

The difference between the initial carrying amount of the loan and the amount repayable is included within the Capital contribution reserve which is included within equity.

Each year the effective interest is included within the profit & loss accounts and the amount is written off as a transfer between capital contribution reserve and profit and loss reserve to match the unwinding discount passing through the profit & loss reserve.


YORK ASSOCIATES INTERNATIONAL LIMITED (REGISTERED NUMBER: 04943654)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Current and deferred 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Presentation currency
The accounts are presented in GBP.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Going concern
The directors have reviewed the current sales position of the Company and continue to pursue new business revenue streams. Revenue projections support the existing business model and the Directors are confident and firmly believe that the Company will continue to meet all its financial obligations in the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 219,755
AMORTISATION
At 1st January 2023 179,267
Charge for year 16,888
At 31st December 2023 196,155
NET BOOK VALUE
At 31st December 2023 23,600
At 31st December 2022 40,488

YORK ASSOCIATES INTERNATIONAL LIMITED (REGISTERED NUMBER: 04943654)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1st January 2023 77,107 15,361 73,487 165,955
Additions - - 18,086 18,086
At 31st December 2023 77,107 15,361 91,573 184,041
DEPRECIATION
At 1st January 2023 77,107 14,107 73,487 164,701
Charge for year - 359 1,963 2,322
At 31st December 2023 77,107 14,466 75,450 167,023
NET BOOK VALUE
At 31st December 2023 - 895 16,123 17,018
At 31st December 2022 - 1,254 - 1,254


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 102
NET BOOK VALUE
At 31st December 2023 102
At 31st December 2022 102

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 646,445 406,608
Amounts owed by group undertakings 23,596 -
Other debtors 131,423 158,750
801,464 565,358

Amounts falling due after more than one year:
Other debtors - 1,883

Aggregate amounts 801,464 567,241

YORK ASSOCIATES INTERNATIONAL LIMITED (REGISTERED NUMBER: 04943654)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 9,800 9,600
Trade creditors 182,127 106,207
Amounts owed to group undertakings 36,413 68,363
Taxation and social security 13,950 47,103
Other creditors 519,108 329,129
761,398 560,402

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 10) 23,822 33,830

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,800 9,600
R Dignen loan account - 15,000
9,800 24,600

Amounts falling due between two and five years:
Bank loans - 2-5 years 23,822 33,830

Bank loans represent bounce back loans secured by the government.

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 37,500

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rachel Davis BA FCA (Senior Statutory Auditor)
for and on behalf of Just Audit Limited

13. CONTINGENT LIABILITIES

The company is in the process of negotiating a lease renewal. As part of those negotiations, it is possible that the company may need to fund the cost of certain dilapidations to the building they currently occupy and have done so for many years.

The stage of the negotiations and information available is not sufficiently advanced to be able to assess the potential liability with any degree of accuracy or reliability. In the directors opinion the range of potential outcomes are between £30,000 and £140,000; the upper figure being based on a landlords estimate obtained 3 years ago which estimate is considered excessive by the Directors.

YORK ASSOCIATES INTERNATIONAL LIMITED (REGISTERED NUMBER: 04943654)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

14. RELATED PARTY DISCLOSURES

Claret Holdings Limited
Majority shareholder of York Associates International Ltd
Claret Holdings Limited granted an unsecured, interest-free loan to York Associates International Ltd:

The net present value of the balance outstanding at the year end date is £Nil (2022: £27,664) and is included within amounts owed to group undertakings (see note 8 and 9).

Repayments made in the year totalled £30,155 (2022: £Nil).

The Loan was repaid in full in 2023.

A loan was made to Claret Holdings Limited in the year of £23,596, no interest has been charged and the loan will be repaid within 12 months and is included within amounts owed from group undertakings.


Purchases of £40,298 (2022: £40,698) were made with fellow group companies. The amount outstanding as at the year end and included within amounts owed to group undertakings was £36,413 (2022: £Nil). There is no interest due on these amounts and they are repayable on demand.

The parent undertaking of the smallest group which prepares consolidated financial statements which include the results of York Associates International Limited is Claret Holdings Limited. Its registered office address is:

ESE Building
Paceville Avenue
St Julians
Malta

15. TRANSACTIONS WITH DIRECTORS

At the balance sheet date, the Directors owed £3,371 to the company. No interest has been charged in respect of this loan which is repayable on demand and is presented within debtors due within one year.


In 2022 the company owed £22,576 to directors. No interest was charged to the company in respect of this loan which has now been repaid in full and was presented within creditors due within one year.