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COMPANY REGISTRATION NUMBER: 14001107
Yoo Homes Ltd
Filleted Unaudited Accounts
31 March 2024
Yoo Homes Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Investments
5
1,800,000
1,800,000
Current assets
Debtors
6
100
100
Creditors: amounts falling due within one year
7
( 1,801,739)
( 1,800,850)
------------
------------
Net current liabilities
( 1,801,639)
( 1,800,750)
------------
------------
Total assets less current liabilities
( 1,639)
( 750)
-------
----
Net liabilities
( 1,639)
( 750)
-------
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 1,739)
( 850)
-------
----
Shareholders deficit
( 1,639)
( 750)
-------
----
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 comprehensive income 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 .
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: 14001107
Yoo Homes Ltd
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.
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. The comparatives cover the period from the incorporation date of 24 March 2022 to 31 March 2023.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
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 .
4. Employees
The average number of employees in the period was nil.
5. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
1,800,000
------------
Impairment
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 31 March 2024
1,800,000
------------
At 31 March 2023
1,800,000
------------
6. Debtors
2024
2023
£
£
Other debtors
100
100
----
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,800,013
1,800,000
Other creditors
1,726
850
------------
------------
1,801,739
1,800,850
------------
------------
8. Related party transactions
During the period, the company received £1,800,000 from Yoo Capital Ltd, a company under common control. As at the period end, £1,800,000 remained outstanding to Yoo Capital Ltd.