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Registered Number: 10615349
England and Wales

 

 

 

YOUNG PEOPLE FIRST LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Report to the directors on the preparation of the unaudited statutory accounts of Young People First Limited for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Young People First Limited for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of Young People First Limited, as a body, in accordance with the terms of our engagement letter dated 29 November 2024 . Our work has been undertaken solely to prepare for your approval the accounts of Young People First Limited and state those matters that we have agreed to state to the Board of Directors of Young People First Limited, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Young People First Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Young People First Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Young People First Limited.You consider that Young People First Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of Young People First Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 29 February 2024.



....................................................
Akhter's Limited
64
Castle Boulevard
Nottingham
Nottinghamshire
NG7 1FN
29 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 28,516    23,184 
28,516    23,184 
Current assets      
Debtors: amounts falling due within one year 196,877    139,526 
Cash at bank and in hand 67,772    135,424 
264,649    274,950 
Creditors: amount falling due within one year (217,039)   (124,298)
Net current assets 47,610    150,652 
 
Total assets less current liabilities 76,126    173,836 
Creditors: amount falling due after more than one year (28,332)   (38,332)
Provisions for liabilities 86    (1,341)
Net assets 47,880    134,163 
 

Capital and reserves
     
Called up share capital 4 625    625 
Profit and loss account 47,255    133,538 
Shareholders' funds 47,880    134,163 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 29 November 2024 and were signed on its behalf by:


-------------------------------
Hamza Mahmood
Director
2
General Information
Young People First Limited is a private company, limited by shares, registered in England and Wales, registration number 10615349, registration address Office T-18, Technology Wing, Howitt Building Lenton Business Centre, Nottingham, NG7 2BY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of any  trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20 Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 42 (2023 : 38).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 March 2023 49,489    49,489 
Additions 19,048    19,048 
Disposals (5,270)   (5,270)
Revaluations (11,244)   (11,244)
At 29 February 2024 52,023    52,023 
Depreciation
At 01 March 2023 15,061    15,061 
Charge for year 8,446    8,446 
On disposals  
At 29 February 2024 23,507    23,507 
Net book values
Closing balance as at 29 February 2024 28,516    28,516 
Opening balance as at 01 March 2023 23,184    23,184 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
625 Class A shares of £1.00 each 625    625 
625    625 

3