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Registration number: 04345305

Yarra Holdings Limited (previously known Physiomed International Limited)

trading as Yarra Holdings Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2023

 

Yarra Holdings Limited (previously known Physiomed International Limited)

trading as Yarra Holdings Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 7

 

Yarra Holdings Limited (previously known Physiomed International Limited)

trading as Yarra Holdings Limited

(Registration number: 04345305)
Abridged Balance Sheet as at 31 December 2023

Note

2023

(As restated)

2022

Fixed assets

 

Tangible assets

4

16,000

-

Investments

5

20,001

20,001

 

36,001

20,001

Current assets

 

Debtors

3,505,190

1,879,647

Cash at bank and in hand

 

791,106

2,540,818

 

4,296,296

4,420,465

Creditors: Amounts falling due within one year

(4,581,230)

(4,587,223)

Net current liabilities

 

(284,934)

(166,758)

Total assets less current liabilities

 

(248,933)

(146,757)

Accruals and deferred income

 

(3,090)

(3,050)

Net liabilities

 

(252,023)

(149,807)

Capital and reserves

 

Called up share capital

6

11,532

11,532

Retained earnings

(263,555)

(161,339)

Shareholders' deficit

 

(252,023)

(149,807)

For the financial year ending 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; and

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

These financial statements have 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Yarra Holdings Limited (previously known Physiomed International Limited)

trading as Yarra Holdings Limited

(Registration number: 04345305)
Abridged Balance Sheet as at 31 December 2023

Approved and authorised by the director on 7 October 2024
 

.........................................
O Priore
Director

   
     
 

Yarra Holdings Limited (previously known Physiomed International Limited)

trading as Yarra Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5th Floor, North Side
7/10 Chandos Street
London
W1G 9DQ

These financial statements were authorised for issue by the director on 7 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has a deficit on is balance sheet and is reliant upon the continuing support of its shareholders. On the basis that the shareholders have indicated that they are willing to support the company for the foreseeable future, the director considers it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Yarra Holdings Limited (previously known Physiomed International Limited)

trading as Yarra Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Yarra Holdings Limited (previously known Physiomed International Limited)

trading as Yarra Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

Yarra Holdings Limited (previously known Physiomed International Limited)

trading as Yarra Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 €

Total

Cost or valuation

Additions

16,000

16,000

At 31 December 2023

16,000

16,000

Depreciation

Carrying amount

At 31 December 2023

16,000

16,000

5

Investments

Total

Cost or valuation

At 1 January 2023

20,001

Provision

Carrying amount

At 31 December 2023

20,001

At 31 December 2022

20,001

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Immobiliare Yarra SRL

Via Podgora 40 Bari, 70124 Italy

Italy

Ordinary

100%

100%

Layarra Sociedad Anonima

Playa Potrero Santa Cruz Guanacaste Costa Rica.

Costa Rica

Ordianry

100%

100%

 

Yarra Holdings Limited (previously known Physiomed International Limited)

trading as Yarra Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

No.

Ordinary shares of €1.15 each

10,000

11,532

10,000

11,532