YC Holdings Limited 10171655 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is an intermediate holding and management company. Digita Accounts Production Advanced 6.30.9574.0 true true true true true true true false true true true false false 10171655 2023-04-01 2024-03-31 10171655 2024-03-31 10171655 bus:OrdinaryShareClass1 2024-03-31 10171655 core:RetainedEarningsAccumulatedLosses 2024-03-31 10171655 core:ShareCapital 2024-03-31 10171655 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10171655 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 10171655 core:CostValuation 2024-03-31 10171655 bus:FRS102 2023-04-01 2024-03-31 10171655 bus:Audited 2023-04-01 2024-03-31 10171655 bus:FullAccounts 2023-04-01 2024-03-31 10171655 bus:RegisteredOffice 2023-04-01 2024-03-31 10171655 bus:Director1 2023-04-01 2024-03-31 10171655 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10171655 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10171655 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10171655 core:ShareCapital 2023-04-01 2024-03-31 10171655 core:AllSubsidiaries 2023-04-01 2024-03-31 10171655 core:AllSubsidiaries core:RenderingOrReceivingServices 2023-04-01 2024-03-31 10171655 core:ParentEntities 2023-04-01 2024-03-31 10171655 core:ParentEntities core:TransfersUnderFinanceArrangements 2023-04-01 2024-03-31 10171655 core:Subsidiary1 2023-04-01 2024-03-31 10171655 core:Subsidiary1 1 2023-04-01 2024-03-31 10171655 core:Subsidiary1 countries:EnglandWales 2023-04-01 2024-03-31 10171655 core:Subsidiary2 2023-04-01 2024-03-31 10171655 core:Subsidiary2 1 2023-04-01 2024-03-31 10171655 core:Subsidiary2 countries:EnglandWales 2023-04-01 2024-03-31 10171655 core:Subsidiary3 2023-04-01 2024-03-31 10171655 core:Subsidiary3 1 2023-04-01 2024-03-31 10171655 core:Subsidiary3 countries:EnglandWales 2023-04-01 2024-03-31 10171655 core:UKTax 2023-04-01 2024-03-31 10171655 1 2023-04-01 2024-03-31 10171655 countries:EnglandWales 2023-04-01 2024-03-31 10171655 2023-03-31 10171655 core:RetainedEarningsAccumulatedLosses 2023-03-31 10171655 core:ShareCapital 2023-03-31 10171655 core:CostValuation 2023-03-31 10171655 2022-04-01 2023-03-31 10171655 2023-03-31 10171655 bus:OrdinaryShareClass1 2023-03-31 10171655 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10171655 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10171655 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 10171655 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 10171655 core:ShareCapital 2022-04-01 2023-03-31 10171655 core:AllSubsidiaries core:RenderingOrReceivingServices 2022-04-01 2023-03-31 10171655 core:ParentEntities core:TransfersUnderFinanceArrangements 2022-04-01 2023-03-31 10171655 core:Subsidiary1 1 2022-04-01 2023-03-31 10171655 core:Subsidiary2 1 2022-04-01 2023-03-31 10171655 core:Subsidiary3 1 2022-04-01 2023-03-31 10171655 core:UKTax 2022-04-01 2023-03-31 10171655 2022-03-31 10171655 core:RetainedEarningsAccumulatedLosses 2022-03-31 10171655 core:ShareCapital 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10171655

YC Holdings Limited

Annual Report and Financial Statements

for the Year Ended 31 March 2024

 

YC Holdings Limited

Contents

Company Information

1

Strategic Report

2

Director's Report

3

Statement of Director's Responsibilities

4

Independent Auditor's Report

5 to 9

Profit and Loss Account and Statement of Retained Earnings

10

Statement of Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14 to 23

 

YC Holdings Limited

Company Information

Director

Mr J Goulden

Registered office

Great North Road
Bawtry
Doncaster
South Yorkshire
DN10 6DG

Auditors

Crozier Jones LLP
Chartered Certified Accountants and Registered Auditors
9/13 Thorne Road
Doncaster
South Yorkshire
DN1 2HJ

 

YC Holdings Limited

Strategic Report for the Year Ended 31 March 2024

The director presents his strategic report for the year ended 31 March 2024.

Principal activity

The principal activity of the company is an intermediate holding and management company.

Fair review of the business

The director considers that the results for the year and the financial position at the end of the year were satisfactory.

While current market conditions remain challenging the director believes there are still opportunities for profitable growth.

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs

Unit

2024

2023

Turnover

£

5,000

30,000

Profit before tax

£

77,235

99,215

Net assets

£

124,843

222,608

Principal risks and uncertainties

The principal risks and uncertainties faced by the company are the general uncertain economic climate in which it currently trades.

Approved and authorised by the director on 20 November 2024
 

.........................................
Mr J Goulden
Director

 

YC Holdings Limited

Director's Report for the Year Ended 31 March 2024

The director presents his report and the financial statements for the year ended 31 March 2024.

Director of the company

The director who held office during the year was as follows:

Mr J Goulden

Financial instruments

Objectives and policies

The company's principal financial instruments comprise intergroup debtors and intergroup creditors. The purposes of these instruments is to finance the company's business operations. The directors do not consider that the company has any significant financial risks other than those normal commercial risks arising from its trading operations. Such risks are managed so as to permit the smooth operation of the business.

Price risk, credit risk, liquidity risk and cash flow risk

Most sales are to other group members and accordingly the company has not entered into any hedging arrangements in respect of risks relating to trade debtors and creditors.

Disclosure of information to the auditors

The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.

Approved and authorised by the director on 20 November 2024
 

.........................................
Mr J Goulden
Director

 

YC Holdings Limited

Statement of Director's Responsibilities

The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

YC Holdings Limited

Independent Auditor's Report to the Members of YC Holdings Limited

Opinion

We have audited the financial statements of YC Holdings Limited (the 'company') for the year ended 31 March 2024, which comprise the Profit and Loss Account and Statement of Retained Earnings, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

 

YC Holdings Limited

Independent Auditor's Report to the Members of YC Holdings Limited

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of director's remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

 

YC Holdings Limited

Independent Auditor's Report to the Members of YC Holdings Limited

Responsibilities of the director

As explained more fully in the Statement of Director's Responsibilities [set out on page 4], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director.

Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

 

YC Holdings Limited

Independent Auditor's Report to the Members of YC Holdings Limited

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:-

• The engagement partner ensured that the audit team collectively had the appropriate competence, capability and skills to identify or recognise non-compliance with applicable laws and regulations;
• We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the caravan, motorhomes, awnings and leisure accessories retail industry;
• We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protections legislation, employment law and environmental and health and safety legislation;
• We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
• The audit team remained alert to the possibility of non-compliance with laws and regulations throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement including obtaining an understanding of how fraud might occur, by:

• Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
• Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
• Considering what motivations and opportunities for fraud may exist within the company.

To address the risk of fraud through management bias and override of controls, we:

• Performed analytical procedures to identify any unusual or unexpected relationships;
• Reviewed journal entries to identify unusual transactions vouching to supporting documentation where appropriate;
• Assessed whether the judgements and assumptions made in determining any accounting estimates used in preparing the accounts were indicative of bias; and
• We maintained an approach of professional scepticism throughout the audit; recognising the possibility of a material misstatement due to facts or behaviour indicating irregularities (including fraud) or error, notwithstanding our past experience of the honesty and integrity of the company's management.

 

YC Holdings Limited

Independent Auditor's Report to the Members of YC Holdings Limited

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• Agreeing financial statement disclosures to underlying supporting documentation;
• Enquiring of management as to actual and potential litigation and claims;
• Reviewing correspondence with HMRC; and
• Reviewing legal expenses both during and after the year for any items indicative of ongoing litigation and potential claims.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
 

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Michael Shaun Crozier FCCA (Senior Statutory Auditor)
For and on behalf of Crozier Jones LLP, Statutory Auditor

9/13 Thorne Road
Doncaster
South Yorkshire
DN1 2HJ

20 November 2024

 

YC Holdings Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

4

5,000

30,000

Administrative expenses

 

(530)

(500)

Operating profit

4,470

29,500

Income from shares in group undertakings

 

76,000

76,000

Interest payable and similar charges

5

(3,235)

(6,285)

 

72,765

69,715

Profit before tax

 

77,235

99,215

Taxation

8

-

(3,942)

Profit for the financial year

 

77,235

95,273

Retained earnings brought forward

 

222,606

247,333

Dividends paid

 

(175,000)

(120,000)

Retained earnings carried forward

 

124,841

222,606

 

YC Holdings Limited

Statement of Comprehensive Income for the Year Ended 31 March 2024

2024
£

2023
£

Profit for the year

77,235

95,273

Total comprehensive income for the year

77,235

95,273

 

YC Holdings Limited

(Registration number: 10171655)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

9

812,659

812,659

Creditors: Amounts falling due within one year

10

(687,816)

(522,051)

Total assets less current liabilities

 

124,843

290,608

Creditors: Amounts falling due after more than one year

10

-

(68,000)

Net assets

 

124,843

222,608

Capital and reserves

 

Called up share capital

2

2

Retained earnings

124,841

222,606

Shareholders' funds

 

124,843

222,608

Approved and authorised by the director on 20 November 2024
 

.........................................
Mr J Goulden
Director

 

YC Holdings Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

2

222,606

222,608

Profit for the year

-

77,235

77,235

Dividends

-

(175,000)

(175,000)

At 31 March 2024

2

124,841

124,843

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

2

247,333

247,335

Profit for the year

-

95,273

95,273

Dividends

-

(120,000)

(120,000)

At 31 March 2023

2

222,606

222,608

 

YC Holdings Limited

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

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:
Great North Road
Bawtry
Doncaster
South Yorkshire
DN10 6DG

These financial statements were authorised for issue by the director on 20 November 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 financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These 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.

Summary of disclosure exemptions

An exemption has been claimed under Section 7 of FRS102 to opt out of preparing a cash flow statement. The cash flows of the company are included in the group's consolidated financial statements.

Name of parent of group

These financial statements are consolidated in the financial statements of Yorkshire Caravans Group Limited.

The financial statements of Yorkshire Caravans Group Limited may be obtained from the registered office.

Exemption from preparing group accounts

The financial statements contain information about YC Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group.

The company is exempt under section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Yorkshire Caravans Group Limited.

 

YC Holdings Limited

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

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Investments in subsidiaries are held 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.

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.

 

YC Holdings Limited

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

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, which are described in note 2, the director is required to make judgements (other than those involving estimations) that have a significant impact on the amounts recognised and to make estimates and assumptions about the carrying amounts of assets and liabilities that are not apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.
 

Critical judgements

The director does not consider that there have been any critical judgements made in the process of applying the company's accounting policies.

Key sources of estimation uncertainty

The director does not consider that there have been any key assumptions concerning the future or other key sources of estimation uncertainty at the balance sheet date which may cause a material adjustment to the carrying amount of assets and liabilities within the next financial year.

 

YC Holdings Limited

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

4

Revenue

The analysis of the company's Turnover for the year from continuing operations is as follows:

2024
£

2023
£

Rendering of services

5,000

30,000

5

Interest payable and similar expenses

2024
£

2023
£

Interest expense on other finance liabilities

3,235

6,285

6

Staff costs

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

2024
No.

2023
No.

Other departments

1

1

1

1

7

Auditors' remuneration

2024
£

2023
£

Audit of the financial statements

530

500


 

 

YC Holdings Limited

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

8

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

-

3,942

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of 25% (2023 - 19%).

The differences are reconciled below:

2024
£

2023
£

Profit before tax

77,235

99,215

Corporation tax at standard rate

19,309

18,851

Tax decrease arising from group relief

(309)

(469)

Tax decrease from effect of dividends from UK companies

(19,000)

(14,440)

Total tax charge

-

3,942

 

YC Holdings Limited

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

9

Investments in subsidiaries, joint ventures and associates

2024
£

2023
£

Investments in subsidiaries

812,659

812,659

Subsidiaries

£

Cost or valuation

At 1 April 2023

812,659

At 31 March 2024

812,659

Carrying amount

At 31 March 2024

812,659

At 31 March 2023

812,659

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

2024

2023

Subsidiary undertakings

Y C Leisure Limited

Great North Road
Bawtry
Doncaster
DN10 6DG

England and Wales

Ordinary shares

76%

76%

Yorkshire Caravans & Motorhomes Limited

Doncaster Road
Bawtry
Doncaster
DN10 6DG

England and Wales

Indirect shareholding

76%

76%

Panelworks Limited

Doncaster Road
Bawtry
Doncaster
DN10 6DG

England and Wales

Indirect shareholding

76%

0%

 

YC Holdings Limited

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

The shares held by the company in YC Leisure Limited are Ordinary A Shares. These shares make up 76% of the subsidiary company's total share capital which is made up of Ordinary Shares and Ordinary A Shares. The Ordinary A Shares rank equally with the Ordinary shares except as follows:-

On a liquidation or other return of capital to members the proceeds shall be distributed

• firstly, to the holder of the A Ordinary Shares and the Ordinary Shares as if they consituted a single class of shares until holders of the A Ordinary Shares have received proceeds of £800,000 in aggregate; and
• thereafter, the balance of the proceeds shall be distributed to the holders of the Ordinary Shares.
 

Subsidiary undertakings

Y C Leisure Limited

The principal activity of Y C Leisure Limited is Y C Leisure Limited is an intermediate holding and management company.

Yorkshire Caravans & Motorhomes Limited

The principal activity of Yorkshire Caravans & Motorhomes Limited is the sale and distribution of caravans, motorhomes and accessories.

Panelworks Limited

The principal activity of Panelworks Limited is caravan body panel repairs.

10

Creditors

Note

2024
£

2023
£

Due within one year

 

Amounts due to related parties

13

685,019

512,808

Accruals

 

2,797

5,301

Corporation tax

8

-

3,942

 

687,816

522,051

Due after one year

 

Amounts due to related parties

 

-

68,000

11

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       
 

YC Holdings Limited

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

Rights, preferences and restrictions

Ordinary shares have the following rights, preferences and restrictions:
Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution, including a distribution arising from a winding up of the company.

12

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividends paid

 

175,000

 

120,000

         
 

YC Holdings Limited

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

13

Related party transactions

Summary of transactions with parent


Included in amounts owed to related parties falling due within one year is £679,158 (2023 £506,398) due to Yorkshire Caravans Group Limited. Included within this amount is £68,000 (2023 £76,000) that is unsecured, repayable in annual instalments and on which interest is charged at 4%. Otherwise balances are unsecured, repayable on demand and no interest is charged.

Included in amounts owed to related parties falling due after more than one year is £NIL (2023 £68,000) due to Yorkshire Caravans Group Limited. This balance is unsecured, repayable in annual instalments and interest is charged at 4%.

During the year the company paid dividends of £175,000 (2023 £120,000) to Yorkshire Caravans Group Limited.

 

Summary of transactions with subsidiaries


Included in amounts owed to related parties is £5,861 (2023 £6,410) due to Y C Leisure Limited. This balance is unsecured, repayable on demand and no interest is charged.

During the year end company received dividends of £76,000 (2023 £76,000) from Y C Leisure Limited.

 

Income and receivables from related parties

2024

Subsidiary
£

Receipt of services

5,000

2023

Subsidiary
£

Receipt of services

30,000

Expenditure with and payables to related parties

2024

Parent
£

Transfers under finance arrangements (including loans and equity contributions)

3,227

2023

Parent
£

Transfers under finance arrangements (including loans and equity contributions)

6,267

 

YC Holdings Limited

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

14

Parent and ultimate parent undertaking

The company's immediate parent is Yorkshire Caravans Group Limited, incorporated in England and Wales.

 

The parent of the largest group in which these financial statements are consolidated is Yorkshire Caravans Group Limited, incorporated in England and Wales.

The address of Yorkshire Caravans Group Limited is:
Great North Road
Bawtry
Doncaster
South Yorkshire
DN10 6DG

The consoidated accounts of Yorkshire Caravans Group Limited are available from the registered office.