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Company Registration No. 12577932 (England and Wales)
Yorvik Land Limited Unaudited accounts for the year ended 30 September 2024
Yorvik Land Limited Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
37,062 
45,938 
Current assets
Inventories
4,345,342 
2,282,225 
Debtors
993,202 
1,817,778 
Cash at bank and in hand
35,723 
10,531 
5,374,267 
4,110,534 
Creditors: amounts falling due within one year
(1,026,277)
(61,259)
Net current assets
4,347,990 
4,049,275 
Total assets less current liabilities
4,385,052 
4,095,213 
Creditors: amounts falling due after more than one year
(3,845,502)
(3,986,000)
Provisions for liabilities
Deferred tax
(9,266)
(10,091)
Net assets
530,284 
99,122 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
530,184 
99,022 
Shareholders' funds
530,284 
99,122 
For the year ending 30 September 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 November 2024 and were signed on its behalf by
M J Gath Director Company Registration No. 12577932
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Yorvik Land Limited Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
Yorvik Land Limited is a private company, limited by shares, registered in England and Wales, registration number 12577932. The registered office is First Floor, 4 Audax Court, Audax Close, YORK, YO30 4RB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing Balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Yorvik Land Limited Notes to the Accounts for the year ended 30 September 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 October 2023
51,520 
- 
51,520 
Additions
- 
316 
316 
At 30 September 2024
51,520 
316 
51,836 
Depreciation
At 1 October 2023
5,582 
- 
5,582 
Charge for the year
9,187 
5 
9,192 
At 30 September 2024
14,769 
5 
14,774 
Net book value
At 30 September 2024
36,751 
311 
37,062 
At 30 September 2023
45,938 
- 
45,938 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
2,701 
3,117 
Trade debtors
401,379 
502,310 
Accrued income and prepayments
117,122 
67,351 
Other debtors
100,000 
93,000 
621,202 
665,778 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
372,000 
452,000 
Other debtors
- 
700,000 
372,000 
1,152,000 
- 4 -
Yorvik Land Limited Notes to the Accounts for the year ended 30 September 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
13,333 
13,333 
Trade creditors
540 
- 
Amounts owed to group undertakings and other participating interests
25,000 
25,000 
Taxes and social security
147,105 
17,297 
Other creditors
343,979 
593 
Loans from directors
495,000 
3,836 
Accruals
1,320 
1,200 
1,026,277 
61,259 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
6,679 
20,000 
Amounts owed to group undertakings and other participating interests
- 
465,000 
Other creditors
300,000 
300,000 
Loans from directors
3,538,823 
3,201,000 
3,845,502 
3,986,000 
Included within creditors falling due after more than one year is a loan of £300,000 from Miss L G Gath.
8
Transactions with related parties
At 30 September 2024 the company owed the Director, Mr M J Gath £4,033,823 (2023 - £3,204,835).
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
- 5 -