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Registration number: 04972466

Andrew Yelland Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Andrew Yelland Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Andrew Yelland Ltd

Company Information

Director

Andrew Yelland

Company secretary

Diane Yelland

Registered office

Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

Accountants

Perrigo Consultants Limited
Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

 

Andrew Yelland Ltd

(Registration number: 04972466)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

1,147,108

1,208,646

Current assets

 

Debtors

7

750

2,850

Investments

8

157,273

182,106

Cash at bank and in hand

 

43,672

96,809

 

201,695

281,765

Creditors: Amounts falling due within one year

9

(128,234)

(117,173)

Net current assets

 

73,461

164,592

Total assets less current liabilities

 

1,220,569

1,373,238

Creditors: Amounts falling due after more than one year

9

-

(18,587)

Provisions for liabilities

(53,358)

(51,794)

Net assets

 

1,167,211

1,302,857

Capital and reserves

 

Called up share capital

10

202

202

Retained earnings

1,167,009

1,302,655

Shareholders' funds

 

1,167,211

1,302,857

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 their 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.

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.

 

Andrew Yelland Ltd

(Registration number: 04972466)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 25 November 2024
 

.........................................
Andrew Yelland
Director

 

Andrew Yelland Ltd

Notes to the Unaudited 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 & Wales.

The address of its registered office is:
Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

These financial statements were authorised for issue by the director on 25 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 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 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 financial statements have been prepared on a 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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Andrew Yelland Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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:

Asset class

Depreciation method and rate

Computer Equiipment

33% Straight Line

Fixtures & Fittings

25% Reducing balance

Motor vehicles

25% Reducing balance

Freehold property

5% Straight Line

Investment property

All buildings held within Freehold Property are included in the accounts at cost or where there is a material difference between cost and current valuation - at the current valuation. Profits and losses arising from revaluation are inlcuded in the company's profit and loss for the year when the building is revalued.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Amortised evenly over its estimated useful life of five years.

 

Andrew Yelland Ltd

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

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.

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.

 

Andrew Yelland Ltd

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

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

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 3).

4

Taxation

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

2023
£

2022
£

Current taxation

UK corporation tax

6,259

13,237

Deferred taxation

Arising from changes in tax rates and laws

1,564

24,085

Tax expense in the income statement

7,823

37,322

Deferred tax

 

Andrew Yelland Ltd

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

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

275,000

275,000

At 31 December 2023

275,000

275,000

Amortisation

At 1 January 2023

275,000

275,000

At 31 December 2023

275,000

275,000

Carrying amount

At 31 December 2023

-

-

6

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 January 2023

1,140,000

40,861

7,255

70,017

Additions

-

-

-

71,100

Disposals

-

-

-

(70,017)

At 31 December 2023

1,140,000

40,861

7,255

71,100

Depreciation

At 1 January 2023

-

27,115

4,628

17,744

Charge for the year

57,000

3,196

2,394

17,775

Eliminated on disposal

-

-

-

(17,744)

At 31 December 2023

57,000

30,311

7,022

17,775

Carrying amount

At 31 December 2023

1,083,000

10,550

233

53,325

At 31 December 2022

1,140,000

13,746

2,627

52,273

 

Andrew Yelland Ltd

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

Total
£

Cost or valuation

At 1 January 2023

1,258,133

Additions

71,100

Disposals

(70,017)

At 31 December 2023

1,259,216

Depreciation

At 1 January 2023

49,487

Charge for the year

80,365

Eliminated on disposal

(17,744)

At 31 December 2023

112,108

Carrying amount

At 31 December 2023

1,147,108

At 31 December 2022

1,208,646

Included within the net book value of land and buildings above is £1,083,000 (2022 - £1,140,000) in respect of freehold land and buildings.
 

7

Debtors

Current

2023
£

2022
£

Trade debtors

-

2,100

Other debtors

750

750

 

750

2,850

8

Current asset investments

2023
£

2022
£

Other investments

157,273

182,106

 

Andrew Yelland Ltd

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

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

-

11,670

Trade creditors

 

-

306

Taxation and social security

 

6,259

13,237

Accruals and deferred income

 

-

16,264

Other creditors

 

121,975

75,696

 

128,234

117,173

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

11

-

18,587

10

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

100

100

100

100

202

202

202

202

11

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Hire purchase contracts

-

18,587

Current loans and borrowings

2023
£

2022
£

Hire purchase contracts

-

11,670

 

Andrew Yelland Ltd

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

12

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of 8,300.00 (2022 - 11,000.00) per each Ordinary

16,600

22,000

Interim dividend of 240.00 (2022 - 250.00) per each Ordinary A

24,000

25,000

Interim dividend of 411.70 (2022 - 250.00) per each Ordinary B

41,170

25,000

81,770

72,000