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REGISTERED NUMBER: 07643085 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 January 2024

for

YIELDSTEEL LIMITED

YIELDSTEEL LIMITED (REGISTERED NUMBER: 07643085)

Contents of the Financial Statements
for the year ended 31 January 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


YIELDSTEEL LIMITED

Company Information
for the year ended 31 January 2024







Director: N Lemetti





Registered office: Juniper House
Warley Hill Business Park, The Drive
Brentwood
Essex
CM13 3BE





Registered number: 07643085 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

YIELDSTEEL LIMITED (REGISTERED NUMBER: 07643085)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 317 945

Current assets
Debtors 5 52,895 623,508
Cash at bank 120,244 470,515
173,139 1,094,023
Creditors
Amounts falling due within one year 6 44,287 1,006,334
Net current assets 128,852 87,689
Total assets less current liabilities 129,169 88,634

Creditors
Amounts falling due after more than one
year

7

(99,399

)

(24,946

)

Provisions for liabilities 9 - (236 )
Net assets 29,770 63,452

Capital and reserves
Called up share capital 10 10,000 10,000
Retained earnings 19,770 53,452
Shareholders' funds 29,770 63,452

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 his 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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2024 and were signed by:



N Lemetti - Director


YIELDSTEEL LIMITED (REGISTERED NUMBER: 07643085)

Notes to the Financial Statements
for the year ended 31 January 2024


1. Statutory information

Yieldsteel 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. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Derivative financial instruments are initially measured at fair value at the date on which a derivative contract is entered into and are subsequently measured at fair value through the income statement.

The company uses derivatives in the form of forward foreign exchange currency contracts to facilitate the purchase of goods invoiced in foreign currencies. The value fo the contract at the year-end is computed by comparison of the contract rate with the rate of an equivalent instrument at the statement of financial position date.

Fair value profits and losses that arise from the year end valuation of forward foreign exchange contracts, where they relate to the same class of contract and are contracted to the same bank, are netted off and are shown as one amount measured through the income statement after operating profit.


YIELDSTEEL LIMITED (REGISTERED NUMBER: 07643085)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 February 2023
and 31 January 2024 846 1,660 2,506
Depreciation
At 1 February 2023 547 1,014 1,561
Charge for year 75 553 628
At 31 January 2024 622 1,567 2,189
Net book value
At 31 January 2024 224 93 317
At 31 January 2023 299 646 945

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 3,302 618,703
Other debtors 49,593 4,805
52,895 623,508

YIELDSTEEL LIMITED (REGISTERED NUMBER: 07643085)

Notes to the Financial Statements - continued
for the year ended 31 January 2024


6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 24,696 9,890
Trade creditors 358 431,061
Taxation and social security 15,897 562,331
Other creditors 3,336 3,052
44,287 1,006,334

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans (see note 8) 99,399 24,946

8. Loans

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 24,696 9,890

Amounts falling due between two and five years:
Bank loans - 2-5 years 99,399 24,946

9. Provisions for liabilities
2024 2023
£    £   
Deferred tax
Other timing differences - 236

Deferred
tax
£   
Balance at 1 February 2023 236
Balance at 31 January 2024 236

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary 1 10,000 10,000