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COMPANY REGISTRATION NUMBER: 12372209
Yoo Retreats Limited
Filleted Unaudited Accounts
31 March 2024
Yoo Retreats Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
201
201
Current assets
Debtors
5
2,514,645
1,813,283
Cash at bank and in hand
6,714
9,348
------------
------------
2,521,359
1,822,631
Creditors: amounts falling due within one year
6
( 2,603,284)
( 1,902,536)
------------
------------
Net current liabilities
( 81,925)
( 79,905)
--------
--------
Total assets less current liabilities
( 81,724)
( 79,704)
--------
--------
Net liabilities
( 81,724)
( 79,704)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 81,824)
( 79,804)
--------
--------
Shareholders deficit
( 81,724)
( 79,704)
--------
--------
These accounts 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 31 March 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 accounts 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 accounts .
Yoo Retreats Limited
Statement of Financial Position (continued)
31 March 2024
These accounts were approved by the board of directors and authorised for issue on 23 November 2024 , and are signed on behalf of the board by:
J Hitchcox
Director
Company registration number: 12372209
Yoo Retreats Limited
Notes to the Accounts
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Bentinck Street, London, W1U 2FA, England.
2. Statement of compliance
These accounts 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. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The company is in a net liability position of £81,724 at 31 March 2024 (2023: £79,704), but is considered to be a going concern by directors on the basis that the company has the support of Yoo Capital Limited, a company related by common ownership. Consolidation exemption The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group. Investments Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Investments in subsidiary undertakings accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. 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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
4. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
201
----
Impairment
At 1 April 2023 and 31 March 2024
----
Carrying amount
At 31 March 2024
201
----
At 31 March 2023
201
----
5. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,114,077
1,440,064
Other debtors
400,568
373,219
------------
------------
2,514,645
1,813,283
------------
------------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
22,324
3,894
Amounts owed to group undertakings and undertakings in which the company has a participating interest
319,011
177,024
Other creditors
2,261,949
1,721,618
------------
------------
2,603,284
1,902,536
------------
------------
7. Related party transactions
At 31 March 2024, a balance of £2,260,816 was owed to Yoo Capital Limited (2023: £1,720,518), a company related by virtue of common ownership. Services provided by entities under common control to the company totalling £10,575 (2023: £3,245).