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Registered Number: 12968364
England and Wales

 

 

 

YOUR OWN MARKET (YOM) LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
  2023   2022
    £ £   £ £
Fixed assets   57,363      66,976 
Current assets 73,609      62,999   
Prepayments and accrued income 9,000      9,000   
Creditors: amount falling due within one year (7,006)     (8,150)  
Net current assets   75,603      63,849 
Total assets less current liabilities   132,966      130,825 
Creditors: amount falling due after more than one year   (145,000)     (145,000)
Net assets   (12,034)     (14,175)
 

         
Capital and reserves   (12,034)     (14,175)
 
NOTES TO THE ACCOUNTS

General Information
Your Own Market (YOM) Limited is a private company, limited by shares, registered in England and Wales, registration number 12968364, registration address 140 Broadway , Didcot , Oxfordshire , OX11 8RJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The director believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 18 Reducing Balance
Fixtures and Fittings 18 Reducing Balance
Computer Equipment 18 Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 January 2023 43,523    34,335    9,013    86,871 
Additions     2,539    2,539 
Disposals      
At 31 December 2023 43,523    34,335    11,552    89,410 
Depreciation
At 01 January 2023 9,933    8,100    1,862    19,895 
Charge for year 6,046    4,723    1,383    12,152 
On disposals      
At 31 December 2023 15,979    12,823    3,245    32,047 
Net book values
Closing balance as at 31 December 2023 27,544    21,512    8,307    57,363 
Opening balance as at 01 January 2023 33,590    26,235    7,151    66,976 

The net book value of Plant and Machinery includes £ 2,748 (2022 £3,351) in respect of assets leased under finance leases or hire purchase contracts.

3.

Average number of employees


Average number of employees during the year was 5 (2022 : 3).


For the year ended 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts.
The financial statements were approved by the director on 08 October 2024 and were signed by:


--------------------------------
Muhammad Mutahar Islam
Director
1