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Registered number: 11430096
Yumax Group Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Yates & Co (Accountants) Limited
Chartered Certified Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11430096
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,000 5,000
Tangible Assets 5 975 2,095
Investments 6 400,047 400,046
405,022 407,141
CURRENT ASSETS
Debtors 7 83,747 107,427
Cash at bank and in hand 12,184 65,102
95,931 172,529
Creditors: Amounts Falling Due Within One Year 8 (256,073 ) (319,552 )
NET CURRENT ASSETS (LIABILITIES) (160,142 ) (147,023 )
TOTAL ASSETS LESS CURRENT LIABILITIES 244,880 260,118
Creditors: Amounts Falling Due After More Than One Year 9 (15,953 ) (26,602 )
NET ASSETS 228,927 233,516
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 228,917 233,506
SHAREHOLDERS' FUNDS 228,927 233,516
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Page 2
For the year ending 30 June 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 Roger Wolfe
Director
07/01/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Yumax Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11430096 . The registered office is 7 St Georges Yard, Castle Street, Farnham, Surrey, GU9 7LW.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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 25% on cost
Motor Vehicles 25% on cost
Computer Equipment 33.33% on cost
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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.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 2 2
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 10,000
As at 30 June 2024 10,000
Amortisation
As at 1 July 2023 5,000
Provided during the period 1,000
As at 30 June 2024 6,000
...CONTINUED
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Net Book Value
As at 30 June 2024 4,000
As at 1 July 2023 5,000
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 13,361 4,470 17,831
Additions - 362 362
As at 30 June 2024 13,361 4,832 18,193
Depreciation
As at 1 July 2023 11,736 4,000 15,736
Provided during the period 984 498 1,482
As at 30 June 2024 12,720 4,498 17,218
Net Book Value
As at 30 June 2024 641 334 975
As at 1 July 2023 1,625 470 2,095
6. Investments
Unlisted
£
Cost
As at 1 July 2023 400,046
Additions 1
As at 30 June 2024 400,047
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 400,047
As at 1 July 2023 400,046
Shares in Fenz Limited were acquired on 1st February 2024 - 2 x £0.20 Ordinary Shares
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 40,358 6,000
Amounts owed by group undertakings 28,128 30,628
Other debtors 15,261 70,799
83,747 107,427
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,375
Bank loans and overdrafts 10,648 10,648
Other creditors 207,660 255,763
Taxation and social security 37,765 51,766
256,073 319,552
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 15,953 26,602
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
5 Ordinary A shares of £ 1.00 each 5 5
5 Ordinary B shares of £ 1.00 each 5 5
10 10
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