IRIS Accounts Production v24.3.0.553 06347684 Board of Directors 1.4.23 31.3.24 31.3.24 the retail sale of second hand and used goods. true false true true false false false true false Ordinary 1.00000 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REGISTERED NUMBER: 06347684 (England and Wales)







Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 March 2024

for

Cash Converters Yorkshire Limited

Cash Converters Yorkshire Limited (Registered number: 06347684)

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










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


Cash Converters Yorkshire Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B W Cox
J T Cox





SECRETARY: J P Spratley





REGISTERED OFFICE: 28 Prescott Street
Halifax
HX1 2LG





REGISTERED NUMBER: 06347684 (England and Wales)





AUDITORS: Lindley Adams Limited Chartered Accountants
Statutory Auditor
28 Prescott Street
Halifax
West Yorkshire
HX1 2LG

Cash Converters Yorkshire Limited (Registered number: 06347684)

Strategic Report
for the Year Ended 31 March 2024


The directors present their strategic report for the year ended 31 March 2024.

Cash Converters Yorkshire Limited operates a chain of 22 stores under the Cash Converters franchise offering the sale of second hand goods and pawnbroking services.

REVIEW OF BUSINESS
The results of the company for the year show a total profit after tax of £2,515,284 (2023 - £2,197,917). The shareholders' funds of the company total £4,476,703 (2023 - £4,348,919).

STRATEGY

The continuing success of the company is dependent upon the proper selection, pricing and ongoing management of stock and personnel. We have continued to consolidate our position in the North of England and consider that it is important to retain a diversified portfolio of risk in order to achieve maximum profitability in a highly competitive market.

The company will continue to consolidate its existing chain of stores whilst also looking to expand its position through acquisition of suitable stores or by organic growth where possible.

KEY PERFORMANCE INDICATORS

The directors consider that our key financial performance indicators are those which communicate the financial performance and strength of the company. The company uses its IT systems to measure several key performance indicators against its targets including turnover, sales margins, aged stock, street values and employee performance.

The gross profit percentage of the company is 33% (2023 - 33%).

The return on capital employed is 75% (2023 - 69%). Return on capital employed is calculated as profit before interest and taxation divided by capital employed, which constitutes total assets less current liabilities.

The directors consider that the company continues to perform in line with the expectations of the board and consider that the results for the year ended 31 March 2024 continue to show that the company remains a key player in the industry.

PRINCIPAL RISKS AND UNCERTAINTIES
The process of risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. All policies are subject to management approval and ongoing review.

The company has developed a framework for identifying risks to which it is exposed and the impact on economic capital of each of those risks.

The principal risks that the directors consider the company faces are from inaccurate pricing and competition.

The directors maintain a system of monitoring the key risks to the company and the key performance indicators. This ensures that the company complies with the strict regulatory controls under which it operates.

ON BEHALF OF THE BOARD:





J T Cox - Director


22 October 2024

Cash Converters Yorkshire Limited (Registered number: 06347684)

Report of the Directors
for the Year Ended 31 March 2024


The directors present their report with the financial statements of the company for the year ended 31 March 2024.

DIVIDENDS
An interim dividend of £596,875 per share was paid on 23 April 2023. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2024 will be £ 2,387,500 .

FUTURE DEVELOPMENTS
Although the growth of the UK economy again strengthened in the year, the risks to UK economic growth remain significant and future prospects may be influenced by developments in Europe. The directors consider the current economic environment to favour the activities of the company.

The directors again consider the next twelve months to be a period of continued consolidation before looking for further growth.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

B W Cox
J T Cox

Other changes in directors holding office are as follows:

G W Cox - resigned 24 April 2023
J M E Cox - resigned 24 April 2023

DISABLED PERSONS
It is the company's policy to offer equal opportunities to disabled persons applying for vacancies and to provide them with the same opportunities for employment, training, career development and promotion as are available to all employees, within the limitations of their aptitude and abilities.

DISCLOSURE IN THE STRATEGIC REPORT
The business review and other mandatory disclosures which the directors consider to be of strategic importance are disclosed in the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Cash Converters Yorkshire Limited (Registered number: 06347684)

Report of the Directors
for the Year Ended 31 March 2024


AUDITORS
The auditors, Lindley Adams Limited Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J T Cox - Director


22 October 2024

Report of the Independent Auditors to the Members of
Cash Converters Yorkshire Limited


Opinion
We have audited the financial statements of Cash Converters Yorkshire Limited (the 'company') for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Cash Converters Yorkshire Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Cash Converters Yorkshire Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of our audit, we determined a level for materiality and assessed the risk of material misstatement in the financial statements. Based on our understanding of the company and discussions with the management, we gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates.

We identified the laws and regulations which we considered to have a direct effect on the financial statements and considered that the most significant are the Companies Act 2006, Financial Reporting Standards and UK tax legislation. The engagement partner assessed that the engagement team had the appropriate competence and capabilities to identify or recognise non-compliance with the laws and regulations.

We enquired with management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations including fraud. We also designed specific appropriate audit procedures including:

- Agreeing financial statement disclosures to supporting documentation.
- Analytical procedures to identify any unusual or unexpected relationships.
- Testing appropriateness of journal entries.
- Review of accounting estimates for potential bias.
- Review of minutes of meetings of those charged with governance.
- Enquire with management as to actual and potential litigation and claims.
- Review of correspondence.

We are not aware of any actual or suspected non-compliance with laws and regulations, and we are not responsible for preventing or detecting non-compliance with all laws and regulations. The primary responsibility for the prevention and detection of fraud rests with management and those charged with governance.

There are inherent limitations in audit procedures and there is an unavoidable risk that we may not have detected
material misstatements within the financial statements, even though the audit is properly planned and performed in accordance with ISA's UK. The further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. The risk of not detecting a material misstatement

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




David Charles Adams FCA (Senior Statutory Auditor)
for and on behalf of Lindley Adams Limited Chartered Accountants
Statutory Auditor
28 Prescott Street
Halifax
West Yorkshire
HX1 2LG

22 October 2024

Cash Converters Yorkshire Limited (Registered number: 06347684)

Statement of Comprehensive
Income
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 4 39,407,219 37,677,263

Cost of sales (26,550,750 ) (25,222,003 )
GROSS PROFIT 12,856,469 12,455,260

Administrative expenses (9,369,015 ) (9,614,794 )
3,487,454 2,840,466

Other operating income - 1,755
OPERATING PROFIT 6 3,487,454 2,842,221

Interest receivable and similar income 41,840 7,306
3,529,294 2,849,527

Interest payable and similar expenses 7 (169,860 ) (123,104 )
PROFIT BEFORE TAXATION 3,359,434 2,726,423

Tax on profit 8 (844,150 ) (528,506 )
PROFIT FOR THE FINANCIAL YEAR 2,515,284 2,197,917

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

2,515,284

2,197,917

Cash Converters Yorkshire Limited (Registered number: 06347684)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 1 134
Tangible assets 11 594,851 324,579
594,852 324,713

CURRENT ASSETS
Stocks 12 3,569,388 3,643,168
Debtors 13 4,400,798 4,110,403
Cash at bank and in hand 2,746,137 1,003,353
10,716,323 8,756,924
CREDITORS
Amounts falling due within one year 14 6,688,469 3,996,750
NET CURRENT ASSETS 4,027,854 4,760,174
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,622,706

5,084,887

CREDITORS
Amounts falling due after more than one
year

15

-

(665,456

)

PROVISIONS FOR LIABILITIES 19 (146,003 ) (70,512 )
NET ASSETS 4,476,703 4,348,919

CAPITAL AND RESERVES
Called up share capital 20 4 4
Capital redemption reserve 21 1 1
Retained earnings 21 4,476,698 4,348,914
SHAREHOLDERS' FUNDS 4,476,703 4,348,919

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by:





J T Cox - Director


Cash Converters Yorkshire Limited (Registered number: 06347684)

Statement of Changes in Equity
for the Year Ended 31 March 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 April 2022 4 2,150,997 1 2,151,002

Changes in equity
Total comprehensive income - 2,197,917 - 2,197,917
Balance at 31 March 2023 4 4,348,914 1 4,348,919

Changes in equity
Dividends - (2,387,500 ) - (2,387,500 )
Total comprehensive income - 2,515,284 - 2,515,284
Balance at 31 March 2024 4 4,476,698 1 4,476,703

Cash Converters Yorkshire Limited (Registered number: 06347684)

Cash Flow Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,583,841 2,294,075
Interest paid (169,860 ) (123,104 )
Government grants - 1,755
Tax paid (654,047 ) (259,024 )
Net cash from operating activities 3,759,934 1,913,702

Cash flows from investing activities
Purchase of tangible fixed assets (620,888 ) (357,302 )
Sale of tangible fixed assets 249,449 -
Interest received 41,840 7,306
Net cash from investing activities (329,599 ) (349,996 )

Cash flows from financing activities
New bank loan - 507,555
Capital repayments in year (873,913 ) (190,461 )
Movement on intercompany loans 1,808,862 (2,103,637 )
Amount introduced by directors - 537,500
Amount withdrawn by directors (235,000 ) -
Equity dividends paid (2,387,500 ) -
Net cash from financing activities (1,687,551 ) (1,249,043 )

Increase in cash and cash equivalents 1,742,784 314,663
Cash and cash equivalents at beginning
of year

2

1,003,353

688,690

Cash and cash equivalents at end of year 2 2,746,137 1,003,353

Cash Converters Yorkshire Limited (Registered number: 06347684)

Notes to the Cash Flow Statement
for the Year Ended 31 March 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.24 31.3.23
£    £   
Profit before taxation 3,359,434 2,726,423
Depreciation charges 107,132 167,191
Profit on disposal of fixed assets (5,833 ) -
Government grants - (1,755 )
Finance costs 169,860 123,104
Finance income (41,840 ) (7,306 )
3,588,753 3,007,657
Decrease/(increase) in stocks 73,780 (567,058 )
(Increase)/decrease in trade and other debtors (263,594 ) 177,382
Increase/(decrease) in trade and other creditors 1,184,902 (323,906 )
Cash generated from operations 4,583,841 2,294,075

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 2,746,137 1,003,353
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 1,003,353 688,690


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 1,003,353 1,742,784 2,746,137
1,003,353 1,742,784 2,746,137
Debt
Debts falling due within 1 year (208,457 ) 208,457 -
Debts falling due after 1 year (665,456 ) 665,456 -
(873,913 ) 873,913 -
Total 129,440 2,616,697 2,746,137

Cash Converters Yorkshire Limited (Registered number: 06347684)

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


1. STATUTORY INFORMATION

Cash Converters Yorkshire 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.

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


2. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

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

Turnover
Turnover represents the fair value of consideration received net of value added tax as follows:
Sale of goods is recognised at the point of sale with the exception of reserved goods ("laybys") which are recognised as a sale when the customer has paid in full for the item.

Commissions received from cash advances, cheque cashing, log book and personal loans are recognised when received. Pawnbroking interest is recognised when the customer repays the loan in full.

Goodwill
Goodwill being the amount paid in connection with the acquisition of stores is amortised evenly over its estimated useful life of four 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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold property - 25% on cost
Fixtures and equipment - 25% on cost
Motor vehicles - 25% on cost
Office equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Included in stock are "buybacks", representing items on which customers have a repurchase option at a fixed amount.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.


Cash Converters Yorkshire Limited (Registered number: 06347684)

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


3. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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.

4. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

31.3.24 31.3.23
£    £   
Retail sales 37,635,910 36,148,208
Pawnbroking interest 1,763,579 1,518,789
Commissions receivable 7,730 10,266
39,407,219 37,677,263

5. EMPLOYEES AND DIRECTORS
31.3.24 31.3.23
£    £   
Wages and salaries 5,451,506 5,294,001
Social security costs 544,333 503,212
Other pension costs 153,524 144,671
6,149,363 5,941,884

The average number of employees during the year was as follows:
31.3.24 31.3.23

Directors 3 3
Other retail managers and staff 221 218
224 221

31.3.24 31.3.23
£    £   
Directors' remuneration - -
Compensation to directors for loss of office 60,000 -

Cash Converters Yorkshire Limited (Registered number: 06347684)

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


6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.3.24 31.3.23
£    £   
Other operating leases 9,316 5,213
Depreciation - owned assets 107,000 166,925
Profit on disposal of fixed assets (5,833 ) -
Patents and licences amortisation 133 266
Auditors' remuneration 11,250 12,700

7. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.24 31.3.23
£    £   
Bank loan interest 18,112 38,691
Loan interest paid 151,748 84,413
169,860 123,104

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.24 31.3.23
£    £   
Current tax:
UK corporation tax 768,659 473,400

Deferred tax 75,491 55,106
Tax on profit 844,150 528,506

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.24 31.3.23
£    £   
Profit before tax 3,359,434 2,726,423
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

839,859

518,020

Effects of:
Expenses not deductible for tax purposes - 133
Capital allowances in excess of depreciation (125,641 ) (44,753 )
Adjustments to tax charge in respect of previous periods 4,893 -

Accelerated capital allowances 75,491 55,106
Profit on disposal of fixed assets 49,548 -
Total tax charge 844,150 528,506

Cash Converters Yorkshire Limited (Registered number: 06347684)

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


9. DIVIDENDS
31.3.24 31.3.23
£    £   
Ordinary shares of £1 each
Ordinary interim paid 2,387,500 -

10. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 April 2023 338,406 43,558 381,964
Disposals (42,047 ) (2,660 ) (44,707 )
At 31 March 2024 296,359 40,898 337,257
AMORTISATION
At 1 April 2023 338,406 43,424 381,830
Amortisation for year - 133 133
Eliminated on disposal (42,047 ) (2,660 ) (44,707 )
At 31 March 2024 296,359 40,897 337,256
NET BOOK VALUE
At 31 March 2024 - 1 1
At 31 March 2023 - 134 134

11. TANGIBLE FIXED ASSETS
Short Fixtures
leasehold and Motor Office
property equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 50,019 1,167,309 43,127 216,499 1,476,954
Additions 11,190 578,932 26,145 4,621 620,888
Disposals (12,350 ) (310,009 ) (16,190 ) (22,882 ) (361,431 )
At 31 March 2024 48,859 1,436,232 53,082 198,238 1,736,411
DEPRECIATION
At 1 April 2023 46,704 944,918 43,127 117,626 1,152,375
Charge for year 814 73,614 4,902 27,670 107,000
Eliminated on disposal (9,498 ) (85,883 ) (16,190 ) (6,244 ) (117,815 )
At 31 March 2024 38,020 932,649 31,839 139,052 1,141,560
NET BOOK VALUE
At 31 March 2024 10,839 503,583 21,243 59,186 594,851
At 31 March 2023 3,315 222,391 - 98,873 324,579

Cash Converters Yorkshire Limited (Registered number: 06347684)

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


12. STOCKS
31.3.24 31.3.23
£    £   
Goods for resale 2,151,961 2,152,678
Buybacks 1,417,427 1,490,490
3,569,388 3,643,168

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,046,285 1,818,729
Amounts owed by group undertakings 2,130,439 2,103,638
Other debtors 9,442 5,478
Prepayments 214,632 182,558
4,400,798 4,110,403

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 16) - 208,457
Trade creditors 68,945 91,023
Amounts owed to group undertakings 1,835,662 -
Tax 369,503 254,891
Social security and other taxes 117,186 104,407
Other creditors 2,840,420 1,446,380
Directors' loan accounts 302,500 537,500
Accruals & deferred income 1,154,253 1,354,092
6,688,469 3,996,750

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 16) - 665,456

16. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - 208,457

Amounts falling due between one and two years:
Bank loans - 1-2 years - 208,457

Amounts falling due between two and five years:
Bank loans - 2-5 years - 456,999

Cash Converters Yorkshire Limited (Registered number: 06347684)

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


17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 446,114 461,407
Between one and five years 948,008 980,317
In more than five years 768 70,213
1,394,890 1,511,937

Operating lease commitments relate to properties from which the company trades, and represent the future lease payments due for the duration of the lease. However many of these leases are subject to a rent review during the period of the lease. As a result the future commitments may vary once such reviews have taken place.

18. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Lloyds Bank PLC - 873,913

19. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 146,003 70,512

Deferred
tax
£   
Balance at 1 April 2023 70,512
Provided during year 75,491
Balance at 31 March 2024 146,003

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
4 Ordinary £1 4 4

Cash Converters Yorkshire Limited (Registered number: 06347684)

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


21. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2023 4,348,914 1 4,348,915
Profit for the year 2,515,284 2,515,284
Dividends (2,387,500 ) (2,387,500 )
At 31 March 2024 4,476,698 1 4,476,699

22. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

23. ULTIMATE PARENT COMPANY

The Company's ultimate parent company is JBG Holdings Limited (a company registered in England and Wales). The address is 28 Prescott Street, Halifax, West Yorkshire, HX1 2LG. Copies of its group accounts are available from the Registrar of Companies.

24. AFTER DATE DIVIDEND

On the 21 June 2024 the company paid a dividend of £2,000,000.00 to its holding company JBG Holding Limited.