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REGISTERED NUMBER: SC189433 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Yearsettle Limited

Yearsettle Limited (Registered number: SC189433)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Yearsettle Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Ms S Ahmad





REGISTERED OFFICE: 157 Curle Street
Glasgow
G14 0TT





REGISTERED NUMBER: SC189433 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Yearsettle Limited (Registered number: SC189433)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 32,981 41,116
32,981 41,116

CURRENT ASSETS
Debtors 6 3,118 161,548
Cash at bank and in hand 8,620 50,306
11,738 211,854
CREDITORS
Amounts falling due within one year 7 (22,874 ) (144,785 )
NET CURRENT (LIABILITIES)/ASSETS (11,136 ) 67,069
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,845

108,185

CREDITORS
Amounts falling due after more than one
year

8

(22,014

)

(24,737

)
NET (LIABILITIES)/ASSETS (169 ) 83,448

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 1,199 1,199
Retained earnings (2,368 ) 81,249
(169 ) 83,448

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Yearsettle Limited (Registered number: SC189433)

Balance Sheet - continued
31 January 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 September 2024 and were signed by:





Ms S Ahmad - Director


Yearsettle Limited (Registered number: SC189433)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Yearsettle Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance, 25% on cost and 20% on reducing balance

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Yearsettle Limited (Registered number: SC189433)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 35,000
AMORTISATION
At 1 February 2023
and 31 January 2024 35,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

Yearsettle Limited (Registered number: SC189433)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 786,399
Additions 14,694
Disposals (211,583 )
At 31 January 2024 589,510
DEPRECIATION
At 1 February 2023 745,283
Charge for year 22,595
Eliminated on disposal (211,349 )
At 31 January 2024 556,529
NET BOOK VALUE
At 31 January 2024 32,981
At 31 January 2023 41,116

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 February 2023 22,450
Additions 14,457
Transfer to ownership (22,450 )
At 31 January 2024 14,457
DEPRECIATION
At 1 February 2023 16,369
Charge for year 9,226
Transfer to ownership (21,982 )
At 31 January 2024 3,613
NET BOOK VALUE
At 31 January 2024 10,844
At 31 January 2023 6,081

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 3,118 940
Other debtors - 160,608
3,118 161,548

Yearsettle Limited (Registered number: SC189433)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 5,433 3,043
Trade creditors 10,210 23,054
Taxation and social security (4,820 ) 21,105
Other creditors 2,051 87,583
22,874 144,785

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 14,770 24,737
Hire purchase contracts (see note 9) 7,244 -
22,014 24,737

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year 5,433 3,043
Between one and five years 7,244 -
12,677 3,043

Non-cancellable operating leases
31.1.24 31.1.23
£    £   
Within one year 30,000 18,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Hire purchase contracts 12,677 3,043

Hire purchase contracts are secured over the assets to which the individual agreements relate.