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Registered number: 10688654
Yafai Promotions Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
GMS FC Limited
1 London Road
Ipswich
Suffolk
IP1 2HA
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—5
Page 1
Balance Sheet
Registered number: 10688654
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 763 773
763 773
CURRENT ASSETS
Debtors 5 121,281 121,311
Cash at bank and in hand 25,146 39,392
146,427 160,703
Creditors: Amounts Falling Due Within One Year 6 (136,299 ) (128,975 )
NET CURRENT ASSETS (LIABILITIES) 10,128 31,728
TOTAL ASSETS LESS CURRENT LIABILITIES 10,891 32,501
NET ASSETS 10,891 32,501
CAPITAL AND RESERVES
Called up share capital 7 10 10
Profit and Loss Account 10,881 32,491
SHAREHOLDERS' FUNDS 10,891 32,501
Page 1
Page 2
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Khalid Yafai
Director
23rd January 2025
The notes on pages 4 to 5 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2022 10 40,474 40,484
Profit for the year and total comprehensive income - 12,017 12,017
Dividends paid - (20,000) (20,000)
As at 31 March 2023 and 1 April 2023 10 32,491 32,501
Profit for the year and total comprehensive income - 23,390 23,390
Dividends paid - (45,000) (45,000)
As at 31 March 2024 10 10,881 10,891
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Yafai Promotions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10688654 . The registered office is 1 London Road, Ipswich, IP1 2HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% SL
Computer Equipment 33% on cost
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 1,788 1,300 3,088
Additions - 653 653
As at 31 March 2024 1,788 1,953 3,741
Depreciation
As at 1 April 2023 1,015 1,300 2,315
Provided during the period 447 216 663
As at 31 March 2024 1,462 1,516 2,978
Net Book Value
As at 31 March 2024 326 437 763
As at 1 April 2023 773 - 773
Page 4
Page 5
5. Debtors
2024 2023
£ £
Due within one year
Deferred tax current asset 30,020 30,020
VAT - 35
Director's loan account 91,261 91,256
121,281 121,311
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) 1,020
Corporation tax 135,255 126,910
Accruals and deferred income 1,045 1,045
136,299 128,975
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
8. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Khalid Yafai 20,000 20,000
Page 5