REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
YLF Property Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
for |
YLF Property Limited |
YLF Property Limited (Registered number: 10506844) |
Contents of the Financial Statements |
for the Year Ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
YLF Property Limited |
Company Information |
for the Year Ended 30 November 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
3 Park Square |
Leeds |
LS1 2NE |
YLF Property Limited (Registered number: 10506844) |
Balance Sheet |
30 November 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
YLF Property Limited (Registered number: 10506844) |
Balance Sheet - continued |
30 November 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
YLF Property Limited (Registered number: 10506844) |
Notes to the Financial Statements |
for the Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
YLF Property Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
YLF Property Limited (Registered number: 10506844) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
4. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 1 December 2022 |
and 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 1 December 2022 |
and 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Trade debtors |
Tax |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Accrued expenses |
YLF Property Limited (Registered number: 10506844) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans (see note 9) |
Directors loan accounts | 99,079 | 163,320 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more than 5 years |
9. | LOANS |
An analysis of the maturity of loans is given below: |
30.11.23 | 30.11.22 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more than 5 years | 912,338 | 923,064 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans | 1,141,594 | 1,143,097 |
The bank loans are secured by a fixed and floating charge over the assets and undertakings of the company and its subsidiary undertaking. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.23 | 30.11.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
B Ordinary | £1 | 100 | 100 |
C Ordinary | £1 | 1 | 1 |
201 | 201 |
YLF Property Limited (Registered number: 10506844) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1 December 2022 |
Profit for the year |
Dividends | ( |
) |
At 30 November 2023 |
13. | RELATED PARTY DISCLOSURES |
Included in trade debtors at the year end is an amount due from Yorkshire Laser & Fabrication Limited of £13,900 (2022: £11,306). |
The company charged Yorkshire Laser & Fabrications Limited £54,000 (2022: £54,148) during the year for rent and £2,860 (2022: £3,431) for insurance. |
At 30 November 2023 the company owed £106,367 (2022:£Nil) to Yorkshire Laser & Fabrications Limited. |
Yorkshire Laser & Fabrications Limited is a wholly owned subsidiary undertaking of the company. |
14. | ULTIMATE CONTROL |
The company is under the ultimate control of the directors. |