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Registration number: 11857374

Yew Tree Property Company (Nantwich) Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 30 April 2024

 

Yew Tree Property Company (Nantwich) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Yew Tree Property Company (Nantwich) Limited

(Registration number: 11857374)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

20,022

 

24,027

Investment property

5

 

1,330,000

 

1,330,000

   

1,350,022

 

1,354,027

Current assets

   

 

Cash at bank and in hand

 

18,844

 

30,770

 

Creditors: Amounts falling due within one year

6

(798,113)

 

(849,701)

 

Net current liabilities

   

(779,269)

 

(818,931)

Total assets less current liabilities

   

570,753

 

535,096

Creditors: Amounts falling due after more than one year

6

 

(365,269)

 

(375,565)

Provisions for liabilities

 

(17,063)

 

(14,394)

Net assets

   

188,421

 

145,137

Capital and reserves

   

 

Called up share capital

120

 

120

 

Profit and loss account

188,301

 

145,017

 

Total equity

   

188,421

 

145,137

 

Yew Tree Property Company (Nantwich) Limited

(Registration number: 11857374)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 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; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
Mr D.W. Shaw
Director

.........................................
Mr C.J. Thompson
Director

 

Yew Tree Property Company (Nantwich) Limited

Notes to the Unaudited Financial Statements For The Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 11, Fusion Court
Aberford Road
Garforth
Leeds
LS25 2GH

These financial statements were authorised for issue by the Board on 24 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Revenue includes the fair value of rental income from leased properties. The income is recognised as it falls due, in accordance with the lease to which it relates.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date .

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Yew Tree Property Company (Nantwich) Limited

Notes to the Unaudited Financial Statements For The Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and equipment

At varying rates between 10% and 25% on a straight line basis.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

Yew Tree Property Company (Nantwich) Limited

Notes to the Unaudited Financial Statements For The Year Ended 30 April 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

272,741

272,741

At 30 April 2024

272,741

272,741

Depreciation

At 1 May 2023

248,714

248,714

Charge for the year

4,005

4,005

At 30 April 2024

252,719

252,719

Carrying amount

At 30 April 2024

20,022

20,022

At 30 April 2023

24,027

24,027

5

Investment properties

2024
£

At 1 May

1,330,000

At 30 April 2024

1,330,000

The directors consider the carrying value of the investment property to be not materially different to its fair value at 30 April 2024.

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Loans and borrowings

7

20,548

20,548

Taxation and social security

 

18,811

17,149

Other creditors

 

758,754

812,004

 

798,113

849,701

 

Yew Tree Property Company (Nantwich) Limited

Notes to the Unaudited Financial Statements For The Year Ended 30 April 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

7

365,269

375,565

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

20,548

20,548

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

365,269

375,565

Loans and borrowings include bank loans repayable by instalments of £283,080 (2023 - £293,375) due after more than five years. The bank borrowings are secured by way of a legal charge over the investment property held by the company.