Registered number
05390335
Yorkshire Groundworks Solutions Limited
Filleted Accounts
31 March 2024
Yorkshire Groundworks Solutions Limited
Registered number: 05390335
Balance Sheet
as at 31 March 2024
Notes 2024 2023
Fixed assets
Tangible assets 4 33,636 56,261
Current assets
Debtors 5 974 71,130
Cash at bank and in hand 108,584 102,485
109,558 173,615
Creditors: amounts falling due within one year 6 (26,326) (61,726)
Net current assets 83,232 111,889
Total assets less current liabilities 116,868 168,150
Creditors: amounts falling due after more than one year 7 - (6,047)
Provisions for liabilities - (4,299)
Net assets 116,868 157,804
Capital and reserves
Called up share capital 100 100
Profit and loss account 116,768 157,704
Shareholder's funds 116,868 157,804
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D J Sullivan
Director
Approved by the board on 20 November 2024
Yorkshire Groundworks Solutions Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0%
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets
Goodwill:
Cost
At 1 April 2023 20,000
At 31 March 2024 20,000
Amortisation
At 1 April 2023 20,000
At 31 March 2024 20,000
Net book value
At 31 March 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
Cost
At 1 April 2023 33,636 148,267 25,000 206,903
Disposals - (148,267) (25,000) (173,267)
At 31 March 2024 33,636 - - 33,636
Depreciation
At 1 April 2023 - 138,127 12,515 150,642
On disposals - (138,127) (12,515) (150,642)
At 31 March 2024 - - - -
Net book value
At 31 March 2024 33,636 - - 33,636
At 31 March 2023 33,636 10,140 12,485 56,261
5 Debtors 2024 2023
Trade debtors - 59,761
Other debtors 974 11,369
974 71,130
6 Creditors: amounts falling due within one year 2024 2023
Obligations under finance lease and hire purchase contracts - 2,337
Trade creditors - 32,948
Taxation and social security costs 25,606 25,156
Other creditors 720 1,285
26,326 61,726
7 Creditors: amounts falling due after one year 2024 2023
Obligations under finance lease and hire purchase contracts - 6,047
8 Loans 2024 2023
Creditors include:
Secured hire purchased contracts - 8,384
The secured hire purchase contract has been transferred to the director due to the sale of the specific asset.
9 Related party transactions
A company vehicle was sold to a director at market value during the year.
10 Controlling party
D J Sullivan owns 100% of the issued share capital of the company and is considered the controlling party.
11 Other information
Yorkshire Groundworks Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
20 Orchard Lane
Hutton
Driffield
East Yorkshire
YO25 9PZ
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