Registered number
07656849
EASTWAY YILMAZ LTD
Filleted Accounts
28 July 2024
EASTWAY YILMAZ LTD
Registered number: 07656849
Balance Sheet
as at 28 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 21,589
Current assets
Stocks - 70,030
Debtors 4 9,766 8,000
Cash at bank and in hand 3,287 10,857
13,053 88,887
Creditors: amounts falling due within one year 5 (926) (23,673)
Net current assets 12,127 65,214
Total assets less current liabilities 12,127 86,803
Creditors: amounts falling due after more than one year 6 - (46,830)
Net assets 12,127 39,973
Capital and reserves
Called up share capital 100 100
Profit and loss account 12,027 39,873
Shareholder's funds 12,127 39,973
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Mehmet YILMAZ
Director
Approved by the board on 13 November 2024
EASTWAY YILMAZ LTD
Notes to the Accounts
for the period from 1 July 2023 to 28 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 18% pa (reducing balance method)
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.Corporation tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 14,469 16,000 30,469
Disposals (14,469) (16,000) (30,469)
At 28 July 2024 - - -
Depreciation
At 1 July 2023 6,000 2,880 8,880
On disposals (6,000) (2,880) (8,880)
At 28 July 2024 - - -
Net book value
At 28 July 2024 - - -
At 30 June 2023 8,469 13,120 21,589
4 Debtors 2024 2023
£ £
Prepayments & other debtors 9,766 8,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Overdrafts 589 -
Trade creditors 48 11,330
Taxation and social security costs 289 12,343
926 23,673
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors - 46,830
7 Other information
EASTWAY YILMAZ LTD is a private company limited by shares and incorporated in England. Its registered office is:
33d Eastway
London
E9 5JB
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