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REGISTERED NUMBER: 06617160 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Yes Lets! (London) Limited

Yes Lets! (London) Limited (Registered number: 06617160)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Yes Lets! (London) Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: P Brown
P Maruna





REGISTERED OFFICE: 145 Brighton Road
Croydon
Surrey
CR2 6EF





REGISTERED NUMBER: 06617160 (England and Wales)





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

Yes Lets! (London) Limited (Registered number: 06617160)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 5,888 2,430
Investments 7 200 200
6,088 2,630

CURRENT ASSETS
Debtors: amounts falling due within one year 8 237,725 212,753
Debtors: amounts falling due after more than
one year

8

3,500

3,500
Cash at bank 17,495 18,669
258,720 234,922
CREDITORS
Amounts falling due within one year 9 (165,678 ) (136,970 )
NET CURRENT ASSETS 93,042 97,952
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,130

100,582

CREDITORS
Amounts falling due after more than one
year

10

(10,485

)

(19,908

)

PROVISIONS FOR LIABILITIES 13 (1,862 ) (990 )
NET ASSETS 86,783 79,684

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 85,783 78,684
SHAREHOLDERS' FUNDS 86,783 79,684

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! (London) Limited (Registered number: 06617160)

Statement of Financial Position - 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 28 January 2025 and were signed on its behalf by:




P Brown - Director



P Maruna - Director


Yes Lets! (London) Limited (Registered number: 06617160)

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

1. STATUTORY INFORMATION

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

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 145 Brighton Road, Croydon, Surrey, CR2 6EF. 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
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. No material uncertainties that may cast doubt about the ability of the company to continue as a going concern have been identified by the directors.

Therefore, the directors consider it appropriate to prepare the financial statements on the going concern basis.

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 capitalised in 2020 has been amortised in order to write the assets over its estimated useful life of five years.

Franchise fees
Franchise fees capitalised in 2020 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! (London) Limited (Registered number: 06617160)

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.

Dilapidation costs
A provision is made to cover the expected costs of making good property dilapidations, where such work is required by the terms of the lease agreement.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

Yes Lets! (London) Limited (Registered number: 06617160)

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 59,312 18,500 77,812
AMORTISATION
At 1 July 2023
and 30 June 2024 59,312 18,500 77,812
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 25,889 20,284 46,173
Additions 2,877 2,832 5,709
At 30 June 2024 28,766 23,116 51,882
DEPRECIATION
At 1 July 2023 23,789 19,954 43,743
Charge for year 1,065 1,186 2,251
At 30 June 2024 24,854 21,140 45,994
NET BOOK VALUE
At 30 June 2024 3,912 1,976 5,888
At 30 June 2023 2,100 330 2,430

7. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 July 2023
and 30 June 2024 200
NET BOOK VALUE
At 30 June 2024 200
At 30 June 2023 200

Yes Lets! (London) Limited (Registered number: 06617160)

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

7. FIXED ASSET INVESTMENTS - continued

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Yes Lets! (Sutton) Limited
Registered office: 145 Brighton, Croydon, Surrey, CR2 6EF
Nature of business: Letting agent
%
Class of shares: holding
Ordinary A 80.00
2024 2023
£    £   
Aggregate capital and reserves (214,492 ) (203,508 )
Loss for the year (10,984 ) (26,774 )

8. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 207,366 186,630
Other debtors 30,359 26,123
237,725 212,753

Amounts falling due after more than one year:
Other debtors 3,500 3,500

Aggregate amounts 241,225 216,253

Amounts owed by group undertakings are unsecured, interest free and receivable on demand.

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,848 12,731
Trade creditors 20,486 14,065
Taxation and social security 125,633 96,054
Other creditors 9,711 14,120
165,678 136,970

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,212 19,908
Other creditors 273 -
10,485 19,908

Yes Lets! (London) Limited (Registered number: 06617160)

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

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 2,100 2,800
Between one and five years - 2,100
2,100 4,900

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 20,060 32,639

The above loan is secured against the assets of the company and also personally guaranteed by the directors.

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,362 490
Dilapidation provision 500 500
1,862 990

Deferred Other
tax provisions
£    £   
Balance at 1 July 2023 490 500
Charge to Income Statement during year 872 -
Balance at 30 June 2024 1,362 500

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
P Maruna
Balance outstanding at start of year - -
Amounts advanced 3,608 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,608 -

Yes Lets! (London) Limited (Registered number: 06617160)

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

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

P Brown
Balance outstanding at start of year - -
Amounts advanced 3,608 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,608 -

During the year directors' loan interest of £528 (2023: £954) has been charged.

15. RELATED PARTY DISCLOSURES

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