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REGISTERED NUMBER: SC446491 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Yard Direct Limited

Yard Direct Limited (Registered number: SC446491)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Yard Direct Limited (Registered number: SC446491)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 12,471 13,551
Tangible assets 5 1,589 3,778
14,060 17,329

CURRENT ASSETS
Stocks 58,667 82,966
Debtors 6 225,501 230,518
Cash at bank and in hand 153,563 280,350
437,731 593,834
CREDITORS
Amounts falling due within one year 7 (473,925 ) (618,047 )
NET CURRENT LIABILITIES (36,194 ) (24,213 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(22,134

)

(6,884

)

CAPITAL AND RESERVES
Called up share capital 3,234 3,234
Retained earnings (25,368 ) (10,118 )
(22,134 ) (6,884 )

Yard Direct Limited (Registered number: SC446491)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The 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.

The financial statements were approved by the director and authorised for issue on 11 November 2024 and were signed by:





Mr P S Miller - Director


Yard Direct Limited (Registered number: SC446491)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Yard Direct Limited is a private company, limited by shares, domiciled in Scotland, registration number SC446491. The registered office is 5 Campsie Road, Kirkintilloch, G66 1SL.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services in respect of the sale of timber and building materials, excluding value added tax. Sales are recognised at the point of sale.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

Yard Direct Limited (Registered number: SC446491)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Going concern
The directors of the company have reviewed the company's financial position for 12 months from the balance sheet signing date and it is the directors' belief that the company should prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023 72,311
Additions 24,942
At 31 March 2024 97,253
AMORTISATION
At 1 April 2023 58,760
Charge for year 26,022
At 31 March 2024 84,782
NET BOOK VALUE
At 31 March 2024 12,471
At 31 March 2023 13,551

Yard Direct Limited (Registered number: SC446491)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 6,760 10,830 17,590
Additions 141 327 468
At 31 March 2024 6,901 11,157 18,058
DEPRECIATION
At 1 April 2023 5,380 8,432 13,812
Charge for year 978 1,679 2,657
At 31 March 2024 6,358 10,111 16,469
NET BOOK VALUE
At 31 March 2024 543 1,046 1,589
At 31 March 2023 1,380 2,398 3,778

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 127,145 139,654
Other debtors 98,356 90,864
225,501 230,518

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 278,573 405,147
Amounts owed to group undertakings 48,000 80,000
Taxation and social security 31,472 25,012
Other creditors 115,880 107,888
473,925 618,047

8. ULTIMATE PARENT ENTITY

The ultimate parent company is Webster Building Supplies Limited, a company incorporated in Scotland having its registered office at 5 Campsie Road, Kirkintilloch, G66 1SL.