Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 04651433 Mr Lindsay Yelland Mrs Amanda Yelland Mrs Amanda Yelland Mr L Yelland false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04651433 2023-02-28 04651433 2024-02-29 04651433 2023-03-01 2024-02-29 04651433 frs-core:Non-currentFinancialInstruments 2024-02-29 04651433 frs-core:BetweenOneFiveYears 2024-02-29 04651433 frs-core:ComputerEquipment 2023-03-01 2024-02-29 04651433 frs-core:NetGoodwill 2023-03-01 2024-02-29 04651433 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 04651433 frs-core:PlantMachinery 2023-03-01 2024-02-29 04651433 frs-core:WithinOneYear 2024-02-29 04651433 frs-core:RevaluationReserve 2023-02-28 04651433 frs-core:RevaluationReserve 2024-02-29 04651433 frs-core:ShareCapital 2024-02-29 04651433 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 04651433 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04651433 frs-bus:AbridgedAccounts 2023-03-01 2024-02-29 04651433 frs-bus:SmallEntities 2023-03-01 2024-02-29 04651433 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 04651433 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04651433 1 2023-03-01 2024-02-29 04651433 frs-bus:Director1 2023-03-01 2024-02-29 04651433 frs-bus:Director2 2023-03-01 2024-02-29 04651433 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 04651433 frs-countries:EnglandWales 2023-03-01 2024-02-29 04651433 2022-02-28 04651433 2023-02-28 04651433 2022-03-01 2023-02-28 04651433 frs-core:Non-currentFinancialInstruments 2023-02-28 04651433 frs-core:BetweenOneFiveYears 2023-02-28 04651433 frs-core:WithinOneYear 2023-02-28 04651433 frs-core:RevaluationReserve 2023-02-28 04651433 frs-core:ShareCapital 2023-02-28 04651433 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 04651433
Yelland's Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 04651433
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 348,607 360,942
Investment Properties 6 462,151 462,151
810,758 823,093
CURRENT ASSETS
Stocks 1,909 2,103
Cash at bank and in hand (2,668 ) 20,547
(759 ) 22,650
Creditors: Amounts Falling Due Within One Year (138,857 ) (112,388 )
NET CURRENT ASSETS (LIABILITIES) (139,616 ) (89,738 )
TOTAL ASSETS LESS CURRENT LIABILITIES 671,142 733,355
Creditors: Amounts Falling Due After More Than One Year (228,984 ) (284,717 )
NET ASSETS 442,158 448,638
CAPITAL AND RESERVES
Called up share capital 7 101 101
Revaluation reserve 9 220,271 220,271
Profit and Loss Account 221,786 228,266
SHAREHOLDERS' FUNDS 442,158 448,638
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 29 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Lindsay Yelland
Director
6th November 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Yelland's Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04651433 . The registered office is Unit 7 Seaton Business Park, 36 William Prance Road, Plymouth, Devon, PL6 5WR.
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.
2.2. 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 and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Plant & Machinery 20% straight line
Computer Equipment 33% straight line
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
Page 3
Page 4
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. 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 year was: 24 (2023: 20)
24 20
Page 4
Page 5
4. Intangible Assets
Total
£
Cost
As at 1 March 2023 157,000
As at 29 February 2024 157,000
Amortisation
As at 1 March 2023 157,000
As at 29 February 2024 157,000
Net Book Value
As at 29 February 2024 -
As at 1 March 2023 -
5. Tangible Assets
Total
£
Cost
As at 1 March 2023 639,786
Additions 2,287
As at 29 February 2024 642,073
Depreciation
As at 1 March 2023 278,844
Provided during the period 14,622
As at 29 February 2024 293,466
Net Book Value
As at 29 February 2024 348,607
As at 1 March 2023 360,942
6. Investment Property
2024
£
Fair Value
As at 1 March 2023 and 29 February 2024 462,151
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 101 101
Page 5
Page 6
8. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 21,693 8,992
Later than one year and not later than five years 19,650 5,918
41,343 14,910
9. Reserves
Revaluation Reserve
£
As at 1 March 2023 220,271
As at 29 February 2024 220,271
10. Controlling Party
The company's controlling party is Mr L Yelland by virtue of his ownership of 99% of the issued share capital in the company.
Page 6