Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 12457010 Mr I Foteinopoulos iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12457010 2023-02-28 12457010 2024-02-28 12457010 2023-03-01 2024-02-28 12457010 frs-core:CurrentFinancialInstruments 2024-02-28 12457010 frs-core:Non-currentFinancialInstruments 2024-02-28 12457010 frs-core:FurnitureFittings 2024-02-28 12457010 frs-core:FurnitureFittings 2023-03-01 2024-02-28 12457010 frs-core:FurnitureFittings 2023-02-28 12457010 frs-core:ShareCapital 2024-02-28 12457010 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 12457010 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 12457010 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 12457010 frs-bus:SmallEntities 2023-03-01 2024-02-28 12457010 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 12457010 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 12457010 frs-bus:Director1 2023-03-01 2024-02-28 12457010 frs-countries:EnglandWales 2023-03-01 2024-02-28 12457010 2022-02-28 12457010 2023-02-28 12457010 2022-03-01 2023-02-28 12457010 frs-core:CurrentFinancialInstruments 2023-02-28 12457010 frs-core:Non-currentFinancialInstruments 2023-02-28 12457010 frs-core:ShareCapital 2023-02-28 12457010 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 12457010
YOLOBRO LTD
Unaudited Financial Statements
For The Year Ended 28 February 2024
CIGMA ACCOUNTING LTD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12457010
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,195 -
Investment Properties 5 315,000 235,206
316,195 235,206
CURRENT ASSETS
Debtors 6 5,808 -
Cash at bank and in hand 14,977 1,201
20,785 1,201
Creditors: Amounts Falling Due Within One Year 7 (74,043 ) (78,602 )
NET CURRENT ASSETS (LIABILITIES) (53,258 ) (77,401 )
TOTAL ASSETS LESS CURRENT LIABILITIES 262,937 157,805
Creditors: Amounts Falling Due After More Than One Year 8 (210,185 ) (167,210 )
NET ASSETS/(LIABILITIES) 52,752 (9,405 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 52,751 (9,406 )
SHAREHOLDERS' FUNDS 52,752 (9,405)
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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 I Foteinopoulos
Director
28/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
YOLOBRO LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12457010 . The registered office is 17 Royal Train Shed, Earlstone Way, Milton Keynes, United Kingdom, MK12 5FH.
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.
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:
Fixtures & Fittings 20% straight line Method 5 years
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost or Valuation
As at 1 March 2023 -
Additions 1,381
As at 28 February 2024 1,381
Depreciation
As at 1 March 2023 -
Provided during the period 186
As at 28 February 2024 186
Net Book Value
As at 28 February 2024 1,195
As at 1 March 2023 -
5. Investment Property
2024
£
Fair Value
As at 1 March 2023 235,206
Fair value adjustments 79,794
As at 28 February 2024 315,000
6. Debtors
2024 2023
£ £
Due within one year
Deferred tax current asset 5,808 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 1,867 1,296
Accruals and deferred income - 840
Director's loan account 72,176 76,466
74,043 78,602
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Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 209,285 167,210
Accruals and deferred income 900 -
210,185 167,210
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5