Registered number
08048615
Yodel Creative Ltd
Filleted Accounts
31 May 2024
Yodel Creative Ltd
Registered number: 08048615
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 44,419 51,760
Current assets
Stocks 12,137 11,009
Debtors 5 29,939 42,545
Cash at bank and in hand 646,528 555,386
688,604 608,940
Creditors: amounts falling due within one year 6 (72,702) (39,085)
Net current assets 615,902 569,855
Total assets less current liabilities 660,321 621,615
Provisions for liabilities (1,524) (1,190)
Net assets 658,797 620,425
Capital and reserves
Called up share capital 101 101
Profit and loss account 658,696 620,324
Shareholders' funds 658,797 620,425
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Paul Newton
Director
Approved by the board on 28 November 2024
Yodel Creative Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 4 years
Motor vehicles over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 10,000
At 31 May 2024 10,000
Amortisation
At 1 June 2023 10,000
At 31 May 2024 10,000
Net book value
At 31 May 2024 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 27,424 45,500 72,924
Additions 3,500 - 3,500
At 31 May 2024 30,924 45,500 76,424
Depreciation
At 1 June 2023 21,164 - 21,164
Charge for the year 1,741 9,100 10,841
At 31 May 2024 22,905 9,100 32,005
Net book value
At 31 May 2024 8,019 36,400 44,419
At 31 May 2023 6,260 45,500 51,760
5 Debtors 2024 2023
£ £
Trade debtors 28,290 34,844
Other debtors 1,649 7,701
29,939 42,545
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,639 1,755
Trade creditors 3,347 505
Taxation and social security costs 62,810 31,438
Other creditors 3,906 5,387
72,702 39,085
7 Related party transactions 2024 2023
Directors loan account £ £
At 31st May, the company owed the related party
the following short term, unsecured, interest free amounts
which are repayable on demand:
Amounts due to the related party 1,943 2,234
8 Controlling party
The director is the ultimate controlling party of the company by virtue of his 100% ownership of the ordinary share capital of the company
9 Other information
Yodel Creative Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Office 6
1 Derby Street
Leigh
WN7 4PF
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