Acorah Software Products - Accounts Production 15.0.600 true true true 29 November 2022 31 January 2024 31 January 2024 14514613 Ms G Robertson Mr C Hughes Mr A Dent Mr B Basham iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14514613 2022-11-28 14514613 2024-01-31 14514613 2022-11-29 2024-01-31 14514613 frs-core:CurrentFinancialInstruments 2024-01-31 14514613 frs-core:Non-currentFinancialInstruments 2024-01-31 14514613 frs-core:SharePremium 2024-01-31 14514613 frs-core:ShareCapital 2024-01-31 14514613 frs-bus:PrivateLimitedCompanyLtd 2022-11-29 2024-01-31 14514613 frs-bus:FullAccounts 2022-11-29 2024-01-31 14514613 frs-bus:SmallEntities 2022-11-29 2024-01-31 14514613 frs-bus:EntityHasNeverTraded 2022-11-29 2024-01-31 14514613 frs-bus:AuditExempt-NoAccountantsReport 2022-11-29 2024-01-31 14514613 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-29 2024-01-31 14514613 frs-bus:SmallCompaniesRegimeForDirectorsReport 2022-11-29 2024-01-31 14514613 frs-core:CostValuation 2022-11-28 14514613 frs-core:AdditionsToInvestments 2024-01-31 14514613 frs-core:CostValuation 2024-01-31 14514613 frs-core:ProvisionsForImpairmentInvestments 2022-11-28 14514613 frs-core:ProvisionsForImpairmentInvestments 2024-01-31 14514613 frs-bus:Director1 2022-11-29 2024-01-31 14514613 frs-bus:Director1 2024-01-31 14514613 frs-bus:Director2 2022-11-29 2024-01-31 14514613 frs-bus:Director2 2024-01-31 14514613 frs-bus:Director3 2022-11-29 2024-01-31 14514613 frs-bus:Director3 2024-01-31 14514613 frs-bus:Director4 2022-11-29 2024-01-31 14514613 frs-bus:Director4 2024-01-31 14514613 frs-countries:EnglandWales 2022-11-29 2024-01-31
Registered number: 14514613
Project Yonder Holdings Ltd
Directors' Report and
Financial Statements
For the Period 29 November 2022 to 31 January 2024
Contents
Page
Company Information 1
Directors' Report 2—4
Dormant Income Statement 5
Statement of Financial Position 6—7
Notes to the Financial Statements 8—10
Page 1
Company Information
Directors Ms G Robertson
Mr C Hughes
Mr A Dent
Mr B Basham
Company Number 14514613
Registered Office Unit 8 Platform Business Centre
Haywood Way
Hastings
East Sussex
TN35 4FB
Accountants BKS Business Services Ltd
17 Clifton Close
Farnham
Surrey
GU10 4TP
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Directors' Report
The directors present their report and the financial statements for the period ended 31 January 2024.
Principal Activity
Project Yonder Holdings Ltd (PYH) is the parent company of the Project Yonder group, holding ownership stakes in two key subsidiaries:
• Project Yonder Ltd (PY): The trading arm responsible for the design, development, and sale of high-end 4X4 Mercedes Sprinter motorhomes.
• Project Yonder IP Ltd (PYIP): The entity that manages the intellectual property (IP) portfolio for the group.
The group specialises in designing and building luxury, off-grid 4X4 motorhomes that combine cutting-edge technology with impeccable design and high-end craftsmanship. The group's vehicles are designed to offer absolute freedom without limitation, positioning Project Yonder as a leader in the luxury motorhome industry.
Review of the Business
FY 2024 was a landmark year for the group, with considerable investment and focus on the research and development of the Freedom 4X, a long-wheelbase all-wheel-drive Mercedes Sprinter motorhome featuring a revolutionary gas-free habitation system.
The Directors spearheaded an extensive R&D program, ensuring that the Freedom 4X was equipped with state-of-the-art internal systems, sourced from the highest quality suppliers. The group's decision to adopt a gas-free approach has set it apart from competitors, with an electrical system that supports off-grid living for extended periods. Custom components, such as a fast-charging component and a lithium battery system, enable the vehicle to operate independently with remarkable efficiency.
Prototype Development
In addition to the comprehensive research and development undertaken for the Freedom 4X, the Directors dedicated time to creating a prototype from rough plywood. This initial prototype allowed the team to assess how the 3D CAD designs translated into real-world applications.
During this hands-on development phase, the design team identified substantial design modifications necessary for optimising functionality and aesthetics. The insights gained from working with the prototype led to a more polished and thoughtfully designed final product. This iterative process emphasized the importance of practical testing and user feedback in refining the motorhome's layout and features, ultimately contributing to the Freedom 4X's exceptional quality and user experience.
The development process led to several innovations:
3D CAD design: The group developed and refined 3D CAD files to perfect the interior layout of the motorhomes. This enabled the transition to CNC cutting for the precision manufacturing of furniture, improving quality and accuracy.
Marine-inspired features: Drawing inspiration from the luxury marine industry, Project Yonder introduced innovative design elements such as marine cork flooring, combining luxury, durability, and sustainability.
GRP Sleeping Pods: The group designed unique GRP sleeping pods that allow users to sleep comfortably across the width of the van. These pods not only add internal space but also serve as distinctive design features, with the Project Yonder logo embossed on the exterior.
Notable Achievements
The group’s achievements during the year:
Development of the Freedom 4X: Development of the Freedom 4X which later went on to win the prestigious "Best in Class" award at the UK’s largest camping and motorhome show, dethroning the previous winner of six consecutive years.
Collaboration with Garmin
In a significant technological breakthrough, Project Yonder became the first UK company to collaborate with Garmin to integrate the EmpirBus control system into its motorhomes. The system allows users to control key features of the vehicle, such as lighting, awning deployment, and electronic waste management, through a 10-inch touch screen branded with Project Yonder's unique interface. Additionally, the system offers app connectivity, enabling control of the motorhome from outside the vehicle, further enhancing the user experience.
Marketing and Brand Development
A substantial investment was made in building the Project Yonder brand:
...CONTINUED
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Review of the Business - continued
• A complete rebranding initiative was undertaken, including the redesign of the company logo and brand scheme.
• A custom-built website was developed to showcase the group’s vehicles and brand identity.
• Several photoshoots and renderings were produced to highlight the Freedom 4X, with a focus on both interior and exterior design features.
• Social media presence grew significantly, with the group's Instagram following exceeding 70k
Additionally, the group featured in numerous online publications, magazines, and blogs, further solidifying its reputation as a trailblazer in the motorhome sector.
Strategic Partnerships
Project Yonder developed strong relationships with key suppliers and partners:
• The group secured a Mercedes-Benz bodybuilder license, allowing it to build on pre-registration vehicles and ensuring that customers become the first registered keepers of their motorhomes.
• All vehicles will undergo rigorous independent testing by the DVSA, ensuring compliance with IVA road safety standards. This enabled the Freedom 4X to be officially registered as a motorhome on the vehicle logbook.
Future Developments
Looking ahead, PYH plans to continue supporting the growth of its subsidiaries by:
• Increasing production capacity to meet growing demand for the Freedom 4X.
• Further investment in R&D to innovate new products and enhance existing models.
• Further investment in machinery to improve productivity and quality control.
• Further investment in people to offering employment opportunities and providing relevant training.
• Expanding marketingefforts to increase brand awareness.
• Strengthening the group's supplier and partner network to ensure the highest standards of production and customer service.
Financial Overview
PYH operates as a holding company and does not engage in direct trading activities. The financial performance of the group reflects the substantial investments made in R&D, marketing, and infrastructure during the year. The Directors are confident that these investments will support the long-term growth and profitability of the group as it continues to establish itself in the luxury motorhome market.
Corporate Governance
The Board remains committed to upholding high standards of corporate governance and ensuring that the group’s operations are aligned with its long-term strategic goals. The Directors are responsible for overseeing financial performance, risk management, and compliance with applicable regulations. The Board is also mindful of the company’s environmental impact and is committed to implementing sustainable practices in both production and operations.
Conclusion
2024 marked a year of remarkable progress for PYH and its subsidiaries. The launch of the Freedom 4X, the group’s successful collaborations with partners such as Garmin, and the significant brand recognition achieved have laid a solid foundation for future growth. The Directors are optimistic about the company’s prospects and remain focused on driving innovation and expanding the group’s market presence.
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Directors
The directors who held office during the period were as follows:
Ms G Robertson Appointed 29/11/2022
Mr C Hughes Appointed 29/11/2022
Mr A Dent Appointed 09/01/2023
Mr B Basham Appointed 09/01/2023
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Ms G Robertson
Director
30 October 2024
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Dormant Income Statement
The company has not traded during the financial period. During this period, the company received no income and incurred no expenditure and therefore made neither profit nor loss.
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Statement of Financial Position
31 January 2024
Notes £ £
FIXED ASSETS
Investments 4 200
200
CURRENT ASSETS
Debtors 5 303,875
303,875
Creditors: Amounts Falling Due Within One Year 6 (77,000 )
NET CURRENT ASSETS (LIABILITIES) 226,875
TOTAL ASSETS LESS CURRENT LIABILITIES 227,075
Creditors: Amounts Falling Due After More Than One Year 7 (195,000 )
NET ASSETS 32,075
CAPITAL AND RESERVES
Called up share capital 8 100
Share premium account 31,975
SHAREHOLDERS' FUNDS 32,075
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For the period ending 31 January 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Ms G Robertson
Director
30 October 2024
The notes on pages 8 to 10 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Project Yonder Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14514613 . The registered office is Unit 8 Platform Business Centre, Haywood Way, Hastings, East Sussex, TN35 4FB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Project Yonder Ltd and Project Yonder IP Ltd are wholly owned subsidiaries of Project Yonder Holdings Ltd.  The group is classified as small as defined by The Companies Act 2006 and is therefore exempt from the requirement to prepare consolidated financial statements.
2.2. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 4
4
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4. Investments
Subsidiaries
£
Cost
As at 29 November 2022 -
Additions 200
As at 31 January 2024 200
Provision
As at 29 November 2022 -
As at 31 January 2024 -
Net Book Value
As at 31 January 2024 200
As at 29 November 2022 -
The investments in subsidiaries represents 100% of the issued share capital of Project Yonder Ltd and Project Yonder IP Ltd, companies incorporated in England.
5. Debtors
31 January 2024
£
Due within one year
Amounts owed by group undertakings 108,875
Due after more than one year
Amounts owed by group undertakings 195,000
303,875
Amounts owed by group undertakings represents loans and working capital provided to the subsidiary companies, Project Yonder Ltd and Project Yonder IP Ltd, to provide funding to develop the group's IP and provide working capital for its trading activities.
6. Creditors: Amounts Falling Due Within One Year
31 January 2024
£
Other loans 77,000
7. Creditors: Amounts Falling Due After More Than One Year
31 January 2024
£
Other loans 195,000
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8. Share Capital
31 January 2024
£
Allotted, Called up and fully paid 100
During the year, 10,000 Ordinary 1p shares were issued at an aggregate premium of £31,975.
9. Related Party Transactions
At the balance sheet date £303,875 was due from Project Yonder Ltd, a subsidiary company, and £272,000 was due to B & L Basham, directors of the company. 
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