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REGISTERED NUMBER: 09487974 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Yes Lets! (Sutton) Limited

Yes Lets! (Sutton) Limited (Registered number: 09487974)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Yes Lets! (Sutton) Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: P Maruna
P Brown
S G Eustration





REGISTERED OFFICE: 32 Stonecot Hill
Sutton
Surrey
SM3 9HE





REGISTERED NUMBER: 09487974 (England and Wales)





ACCOUNTANTS: Banks Sheridan
Datum House
Electra Way
Crewe
Cheshire
CW1 6ZF

Yes Lets! (Sutton) Limited (Registered number: 09487974)

Balance Sheet
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 2,033 2,004
2,033 2,004

CURRENT ASSETS
Debtors: amounts falling due within one year 7 11,860 5,857
Debtors: amounts falling due after more than
one year

7

-

6,750
Cash at bank 16,753 8,063
28,613 20,670
CREDITORS
Amounts falling due within one year 8 (224,786 ) (225,890 )
NET CURRENT LIABILITIES (196,173 ) (205,220 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(194,140

)

(203,216

)

PROVISIONS FOR LIABILITIES 10 (20,352 ) (292 )
NET LIABILITIES (214,492 ) (203,508 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings (214,792 ) (203,808 )
SHAREHOLDERS' FUNDS (214,492 ) (203,508 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Yes Lets! (Sutton) Limited (Registered number: 09487974)

Balance Sheet - continued
30 June 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:




P Brown - Director



S G Eustration - Director


Yes Lets! (Sutton) Limited (Registered number: 09487974)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Yes Lets! (Sutton) Limited ('The Company') are estate agents operating a Martin and Co franchise in Sutton.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business and of the registered office is 32 Stonecot Hill, Sutton, Surrey, SM3 9HE. The registered number can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Summary of significant accounting policies
The principle accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented, unless otherwise stated.

Basis of preparation
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006.

Going concern
The company has a significant net asset deficiency that predominantly relates to amounts owed to the directors and group companies. The directors and the group have undertaken to continue to support the company. After taking this support into consideration and after reviewing the company's forecasts and projections, the directors have a reasonable expectation that adequate resources will be available for the company to continue in operational existence for the foreseeable future. Therefore, the company continues to adopt the going concern basis in preparing its financial statements.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents commissions and fees, stated net of discounts and of Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Franchise fees
Franchise fees capitalised in 2016 have been amortised in order to write the assets over their estimated useful life of five years.

Tangible fixed assets
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 reducing balance
Computer equipment - 33.33% on cost


Yes Lets! (Sutton) Limited (Registered number: 09487974)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

3. ACCOUNTING POLICIES - continued
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 end of the financial year.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the end of the financial year.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of assets
Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

Yes Lets! (Sutton) Limited (Registered number: 09487974)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

5. INTANGIBLE FIXED ASSETS
Franchise
Goodwill fees Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 40,735 9,250 49,985
AMORTISATION
At 1 July 2023
and 30 June 2024 40,735 9,250 49,985
NET BOOK VALUE
At 30 June 2024 - - -
At 30 June 2023 - - -

6. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 14,672 4,109 18,781
Additions - 795 795
At 30 June 2024 14,672 4,904 19,576
DEPRECIATION
At 1 July 2023 12,668 4,109 16,777
Charge for year 501 265 766
At 30 June 2024 13,169 4,374 17,543
NET BOOK VALUE
At 30 June 2024 1,503 530 2,033
At 30 June 2023 2,004 - 2,004

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 11,860 5,857

Amounts falling due after more than one year:
Other debtors - 6,750

Aggregate amounts 11,860 12,607

Yes Lets! (Sutton) Limited (Registered number: 09487974)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,868 9,126
Amounts owed to group undertakings 207,366 186,630
Taxation and social security 6,861 7,270
Other creditors 5,691 22,864
224,786 225,890

Amounts owed to group undertakings are unsecured, interest free and payable on demand.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 3,375

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 352 292
Dilapidations provision 20,000 -
20,352 292

Deferred
tax
£   
Balance at 1 July 2023 292
Charge to Income Statement during year 60
Balance at 30 June 2024 352

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year directors' loans of £12,000 (2023: £24,000) have been written off.

12. RELATED PARTY DISCLOSURES

Yes Lets! (London) Limited is the parent company. Amounts due to Yes Lets! (London) Limited from the company at the year end of £207,366 (2023: £186,630) are disclosed separately within creditors: amounts falling due within one year.

13. ULTIMATE PARENT COMPANY

The company is an 80% subsidiary of Yes Lets! (London) Limited (a company incorporated in England and Wales), which is the ultimate parent company. Yes Lets! (London) Limited is under the control of P Brown and P Maruna, who at the date of this report beneficially hold 100% of the the issued share capital.