0 false false false false false false false false false false true false false true true true true No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2024 - FRS102_2024 100,954 19,878 22,744 6,025 104,113 104,113 100,954 xbrli:pure xbrli:shares iso4217:GBP NI049689 2023-03-01 2024-02-29 NI049689 2024-02-29 NI049689 2023-02-28 NI049689 2022-03-01 2023-02-28 NI049689 2023-02-28 NI049689 2022-02-28 NI049689 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 NI049689 bus:Director1 2023-03-01 2024-02-29 NI049689 core:LandBuildings 2024-02-29 NI049689 core:WithinOneYear 2024-02-29 NI049689 core:WithinOneYear 2023-02-28 NI049689 core:ShareCapital 2024-02-29 NI049689 core:ShareCapital 2023-02-28 NI049689 core:CapitalRedemptionReserve 2024-02-29 NI049689 core:CapitalRedemptionReserve 2023-02-28 NI049689 core:RetainedEarningsAccumulatedLosses 2024-02-29 NI049689 core:RetainedEarningsAccumulatedLosses 2023-02-28 NI049689 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 NI049689 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-02-29 NI049689 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-02-29 NI049689 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-02-29 NI049689 core:CostValuation core:Non-currentFinancialInstruments 2024-02-29 NI049689 core:Non-currentFinancialInstruments 2024-02-29 NI049689 core:Non-currentFinancialInstruments 2023-02-28 NI049689 core:LandBuildings 2023-02-28 NI049689 bus:SmallEntities 2023-03-01 2024-02-29 NI049689 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 NI049689 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 NI049689 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI049689 bus:FullAccounts 2023-03-01 2024-02-29 NI049689 bus:OrdinaryShareClass1 2024-02-29 NI049689 bus:OrdinaryShareClass1 2023-02-28
COMPANY REGISTRATION NUMBER: NI049689
Yarrum Properties Limited
Filleted Unaudited Financial Statements
29 February 2024
Yarrum Properties Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
192,708
192,708
Investments
5
104,113
100,954
---------
---------
296,821
293,662
Current assets
Cash at bank and in hand
35,335
22,469
Creditors: amounts falling due within one year
6
262,301
259,155
---------
---------
Net current liabilities
226,966
236,686
---------
---------
Total assets less current liabilities
69,855
56,976
--------
--------
Net assets
69,855
56,976
--------
--------
Capital and reserves
Called up share capital
7
6
6
Capital redemption reserve
8
1
1
Profit and loss account
8
69,848
56,969
--------
--------
Shareholders funds
69,855
56,976
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Yarrum Properties Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 19 November 2024 , and are signed on behalf of the board by:
Mr B Murray
Director
Company registration number: NI049689
Yarrum Properties Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 2c Kathleen Avenue, Helens Bay, Bangor, Co. Down, BT19 1LF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Land and buildings
Equipment
Total
£
£
£
Cost
At 1 March 2023 and 29 February 2024
192,708
2,930
195,638
---------
-------
---------
Depreciation
At 1 March 2023 and 29 February 2024
2,930
2,930
---------
-------
---------
Carrying amount
At 29 February 2024
192,708
192,708
---------
-------
---------
At 28 February 2023
192,708
192,708
---------
-------
---------
5. Investments
Other investments other than loans
£
Cost
At 1 March 2023
100,954
Additions
19,878
Disposals
( 22,744)
Revaluations
6,025
---------
At 29 February 2024
104,113
---------
Impairment
At 1 March 2023 and 29 February 2024
---------
Carrying amount
At 29 February 2024
104,113
---------
At 28 February 2023
100,954
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
3,777
841
Social security and other taxes
1,183
1,235
Other creditors
257,341
257,079
---------
---------
262,301
259,155
---------
---------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
6
6
6
6
----
----
----
----
8. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.