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REGISTERED NUMBER: 04182000 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Yorkshire Profiles Limited

Yorkshire Profiles Limited (Registered number: 04182000)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Yorkshire Profiles Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: M Halliwell
A J R R Halliwell





SECRETARY: M Halliwell





REGISTERED OFFICE: Unit 6A Hessay Industrial Estate
Hessay
York
North Yorkshire
YO26 8LE





REGISTERED NUMBER: 04182000 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Oak Tree House, Harwood Road
Northminster Business Park
Upper Poppleton
York
YO26 6QU

Yorkshire Profiles Limited (Registered number: 04182000)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 662,406 695,125

CURRENT ASSETS
Stocks 5 73,810 78,132
Debtors 6 374,026 438,906
Cash at bank 236,428 279,149
684,264 796,187
CREDITORS
Amounts falling due within one year 7 487,284 532,204
NET CURRENT ASSETS 196,980 263,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

859,386

959,108

CREDITORS
Amounts falling due after more than one
year

8

(277,237

)

(318,664

)

PROVISIONS FOR LIABILITIES 12 (122,478 ) (151,897 )
NET ASSETS 459,671 488,547

CAPITAL AND RESERVES
Called up share capital 13 160 160
Retained earnings 459,511 488,387
SHAREHOLDERS' FUNDS 459,671 488,547

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Yorkshire Profiles Limited (Registered number: 04182000)

Balance Sheet - continued
31 August 2024


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 Board of Directors and authorised for issue on 4 November 2024 and were signed on its behalf by:





M Halliwell - Director


Yorkshire Profiles Limited (Registered number: 04182000)

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

1. STATUTORY INFORMATION

Yorkshire Profiles 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.

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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income Recognition
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold improvements - 10% on cost
Plant and machinery - 15% on cost and 10% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

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

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.


Yorkshire Profiles Limited (Registered number: 04182000)

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

2. 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 September 2023 - 1,806,162 6,377
Additions 50,414 144,621 443
At 31 August 2024 50,414 1,950,783 6,820
DEPRECIATION
At 1 September 2023 - 1,143,571 1,680
Charge for year 3,999 213,275 873
At 31 August 2024 3,999 1,356,846 2,553
NET BOOK VALUE
At 31 August 2024 46,415 593,937 4,267
At 31 August 2023 - 662,591 4,697

Yorkshire Profiles Limited (Registered number: 04182000)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 29,201 24,345 1,866,085
Additions - 1,583 197,061
At 31 August 2024 29,201 25,928 2,063,146
DEPRECIATION
At 1 September 2023 10,804 14,905 1,170,960
Charge for year 7,300 4,333 229,780
At 31 August 2024 18,104 19,238 1,400,740
NET BOOK VALUE
At 31 August 2024 11,097 6,690 662,406
At 31 August 2023 18,397 9,440 695,125

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 September 2023 743,750
Additions 123,200
At 31 August 2024 866,950
DEPRECIATION
At 1 September 2023 292,910
Charge for year 117,723
At 31 August 2024 410,633
NET BOOK VALUE
At 31 August 2024 456,317
At 31 August 2023 450,840

5. STOCKS
2024 2023
£    £   
Stocks 73,810 78,132

Yorkshire Profiles Limited (Registered number: 04182000)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 284,759 361,093
Other debtors 79,689 70,965
Directors' current accounts 1,200 -
Prepayments and accrued income 8,378 6,848
374,026 438,906

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Hire purchase contracts (see note 10) 129,986 122,901
Trade creditors 264,698 326,996
Taxation and social security 72,501 65,508
Other creditors 6,849 3,649
Accruals and deferred income 3,250 3,150
487,284 532,204

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 7,500 17,500
Hire purchase contracts (see note 10) 269,737 301,164
277,237 318,664

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 7,500 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 7,500

Yorkshire Profiles Limited (Registered number: 04182000)

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

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 129,986 122,901
Between one and five years 269,737 301,164
399,723 424,065

Non-cancellable operating leases
2024 2023
£    £   
Within one year 75,845 27,904
Between one and five years 225,090 3,451
In more than five years 26,000 -
326,935 31,355

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 17,500 27,500
Hire purchase contracts 399,723 424,065
417,223 451,565

Hire purchase liabilities are secured against the assets to which they relate.

Bank loans are secured by the UK Government under the Bounce Back Loan Scheme and are subject to a fixed interest rate of 2.5% per annum.

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 122,478 151,897

Deferred
tax
£   
Balance at 1 September 2023 151,897
Utilised during year (29,419 )
Balance at 31 August 2024 122,478

Yorkshire Profiles Limited (Registered number: 04182000)

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

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 A ordinary shares £1 100 100
60 B ordinary shares £1 60 60
160 160

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£    £   
M Halliwell
Balance outstanding at start of year - -
Amounts advanced 1,200 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,200 -

The loan account was repaid on 3 September 2024.