Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Andrew George Whitney 01/09/2017 27 August 2024 The principal activity of the company during the year was that of providing health related services. 10941358 2023-12-31 10941358 bus:Director1 2023-12-31 10941358 2022-12-31 10941358 core:CurrentFinancialInstruments 2023-12-31 10941358 core:CurrentFinancialInstruments 2022-12-31 10941358 core:Non-currentFinancialInstruments 2023-12-31 10941358 core:Non-currentFinancialInstruments 2022-12-31 10941358 core:ShareCapital 2023-12-31 10941358 core:ShareCapital 2022-12-31 10941358 core:RetainedEarningsAccumulatedLosses 2023-12-31 10941358 core:RetainedEarningsAccumulatedLosses 2022-12-31 10941358 core:OtherPropertyPlantEquipment 2022-12-31 10941358 core:OtherPropertyPlantEquipment 2023-12-31 10941358 core:CostValuation 2022-12-31 10941358 core:AdditionsToInvestments 2023-12-31 10941358 core:CostValuation 2023-12-31 10941358 2021-12-31 10941358 bus:OrdinaryShareClass1 2023-12-31 10941358 2023-01-01 2023-12-31 10941358 bus:FilletedAccounts 2023-01-01 2023-12-31 10941358 bus:SmallEntities 2023-01-01 2023-12-31 10941358 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10941358 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10941358 bus:Director1 2023-01-01 2023-12-31 10941358 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 10941358 2022-01-01 2022-12-31 10941358 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 10941358 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 10941358 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10941358 (England and Wales)

YORMED LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

YORMED LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

YORMED LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
YORMED LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Andrew George Whitney
REGISTERED OFFICE Ambulance Station Manor Farm
Eddlethorpe
Malton
YO17 9QT
United Kingdom
COMPANY NUMBER 10941358 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
YORMED LIMITED

BALANCE SHEET

As at 31 December 2023
YORMED LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 258,781 158,230
Investments 4 233,780 203,680
492,561 361,910
Current assets
Debtors 5 622,597 351,066
Cash at bank and in hand 6 45,436 126,190
668,033 477,256
Creditors: amounts falling due within one year 7 ( 729,313) ( 593,249)
Net current liabilities (61,280) (115,993)
Total assets less current liabilities 431,281 245,917
Creditors: amounts falling due after more than one year 8 ( 118,515) ( 28,264)
Provision for liabilities 9 ( 49,168) ( 28,361)
Net assets 263,598 189,292
Capital and reserves
Called-up share capital 10 100 100
Profit and loss account 263,498 189,192
Total shareholder's funds 263,598 189,292

For the financial 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.

Director's responsibilities:

The financial statements of Yormed Limited (registered number: 10941358) were approved and authorised for issue by the Director on 27 August 2024. They were signed on its behalf by:

Andrew George Whitney
Director
YORMED LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
YORMED LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Yormed Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ambulance Station Manor Farm, Eddlethorpe, Malton, YO17 9QT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 25 27

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 261,556 261,556
Additions 143,089 143,089
At 31 December 2023 404,645 404,645
Accumulated depreciation
At 01 January 2023 103,326 103,326
Charge for the financial year 42,538 42,538
At 31 December 2023 145,864 145,864
Net book value
At 31 December 2023 258,781 258,781
At 31 December 2022 158,230 158,230

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 203,680 203,680
Additions 30,100 30,100
At 31 December 2023 233,780 233,780
Carrying value at 31 December 2023 233,780 233,780
Carrying value at 31 December 2022 203,680 203,680

5. Debtors

2023 2022
£ £
Trade debtors 135,246 121,624
Amounts owed by associates 469,765 209,773
Other debtors 17,586 19,669
622,597 351,066

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 45,436 126,190

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 3,788 9,167
Trade creditors 87,932 57,186
Amounts owed to associates 240,627 126,560
Taxation and social security 38,932 25,770
Obligations under finance leases and hire purchase contracts 33,489 0
Other creditors 324,545 374,566
729,313 593,249

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 23,820 28,264
Obligations under finance leases and hire purchase contracts 94,695 0
118,515 28,264

There are no amounts included above in respect of which any security has been given by the small entity.

9. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 28,361) ( 23,021)
Charged to the Statement of Income and Retained Earnings ( 20,807) ( 5,340)
At the end of financial year ( 49,168) ( 28,361)

10. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100