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REGISTERED NUMBER: 06885456 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Yorpower Limited

Yorpower Limited (Registered number: 06885456)






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


Yorpower Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A J Brimble
S J Peal





SECRETARY: R Brimble





REGISTERED OFFICE: Electricity Building
Unit 2 Hurricane Close
Sherburn-In-Elmet
North Yorkshire
LS25 6PB





REGISTERED NUMBER: 06885456 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Oak Tree House, Harwood Road
Northminster Business Park
Upper Poppleton
York
YO26 6QU

Yorpower Limited (Registered number: 06885456)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 112,494 128,085
Investments 6 75,001 75,001
187,495 203,086

CURRENT ASSETS
Stocks 7 2,876,245 1,597,182
Debtors 8 1,985,288 2,640,285
Cash at bank and in hand 1,616,215 1,385,242
6,477,748 5,622,709
CREDITORS
Amounts falling due within one year 9 2,723,508 2,611,036
NET CURRENT ASSETS 3,754,240 3,011,673
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,941,735

3,214,759

CREDITORS
Amounts falling due after more than one
year

10

(41,200

)

-

PROVISIONS FOR LIABILITIES 12 (21,697 ) (28,806 )
NET ASSETS 3,878,838 3,185,953

CAPITAL AND RESERVES
Called up share capital 13 13,951 13,951
Share premium 1,522,507 1,522,507
Fair value reserve (1,040,489 ) (996,413 )
EMI reserve 18,421 -
Retained earnings 3,364,448 2,645,908
SHAREHOLDERS' FUNDS 3,878,838 3,185,953

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.

Yorpower Limited (Registered number: 06885456)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2025 and were signed on its behalf by:





A J Brimble - Director


Yorpower Limited (Registered number: 06885456)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Yorpower Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Income recognition
Income is recognised when the conditions contained within a contract for goods and services have been met.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and Machinery - 2 - 5 years
Fixtures and fittings - 33% and 20% straight line
Motor Vehicles - 33% and 20% straight line
Computer Equipment - 3 years

Tangible fixed assets are measured at cost less depreciation and impairment.

Investments in associates
Investments held as fixed assets are stated at cost less provision for any impairment in value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Yorpower Limited (Registered number: 06885456)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets
Short term debtors and cash at bank are measured at amortised cost. Long term debtors which are basic financial instruments, are initially recorded at the present value of future payments discounted at a market rate of interest for a similar loan. Subsequently, they are measured at amortised cost using the effective interest method.

Financial liabilities
Short term trade creditors are measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Yorpower Limited (Registered number: 06885456)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Share options
Employees (including directors) of the company receive remuneration in the form of share-based payments, whereby employees render services as consideration for equity instruments.

The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using the Trinomial model.

That cost is recognised as pension contributions, together with a corresponding increase in equity, over the period in which the service and, where applicable, the performance conditions are fulfilled (the vesting period). The cumulative expense recognised for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the company's best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the statement of profit or loss for a period represents the movement in cumulative expense recognised as at the beginning and end of that period.

Service and non-market performance conditions are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the company's best estimate of the number of equity instruments that will ultimately vest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 56 (2023 - 45 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 50,000
AMORTISATION
At 1 July 2023
and 30 June 2024 50,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

Yorpower Limited (Registered number: 06885456)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 139,389 61,732 164,024 40,333 405,478
Additions 1,500 - 59,750 6,215 67,465
Disposals - - (42,000 ) - (42,000 )
At 30 June 2024 140,889 61,732 181,774 46,548 430,943
DEPRECIATION
At 1 July 2023 122,726 55,288 78,729 20,650 277,393
Charge for year 9,244 3,284 45,232 11,296 69,056
Eliminated on disposal - - (28,000 ) - (28,000 )
At 30 June 2024 131,970 58,572 95,961 31,946 318,449
NET BOOK VALUE
At 30 June 2024 8,919 3,160 85,813 14,602 112,494
At 30 June 2023 16,663 6,444 85,295 19,683 128,085

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 59,750
At 30 June 2024 59,750
DEPRECIATION
Charge for year 8,299
At 30 June 2024 8,299
NET BOOK VALUE
At 30 June 2024 51,451

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 July 2023
and 30 June 2024 75,001
NET BOOK VALUE
At 30 June 2024 75,001
At 30 June 2023 75,001

Yorpower Limited (Registered number: 06885456)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. STOCKS
2024 2023
£    £   
Stocks 2,876,245 1,597,182

8. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 322,636 1,207,400
Other debtors 113,020 231,646
VAT 85,392 -
Prepayments 79,729 72,652
600,777 1,511,698

Amounts falling due after more than one year:
Other debtors 1,384,511 1,128,587

Aggregate amounts 1,985,288 2,640,285

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 11) 8,218 -
Trade creditors 1,956,210 1,806,385
Amounts owed to group undertakings 10,200 10,200
Taxation and social security 313,484 273,517
Other creditors 12,455 11,646
Accruals and deferred income 422,941 509,288
2,723,508 2,611,036

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 11) 41,200 -

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 8,218 -
Between one and five years 41,200 -
49,418 -

Yorpower Limited (Registered number: 06885456)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 3,360 -
Between one and five years 12,600 -
15,960 -

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 21,697 28,806

Deferred
tax
£   
Balance at 1 July 2023 28,806
Utilised during year (7,109 )
Balance at 30 June 2024 21,697

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
13,081 Ordinary £1 13,081 13,081
870 Ordinary A £1 870 870
13,951 13,951

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Yorpower Employee Ownership Trust.

Yorpower Limited (Registered number: 06885456)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

15. SHARE OPTIONS

During the year the company passed a special resolution to grant an Enterprise Management Incentive share option scheme for one individual.

The company granted 1,543 options at £129.00 per ordinary share. Share options are to be settled through equity. There is no cash-based alternative.

20242023
££
Expense arising from equity-settled share-based payment transactions18,421-
There were no cancellations or modifications to the awards in 2024, however 300 options were exercised after the end of the year but prior to the date of approval of the accounts.

Movements during the year
The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year:
2024202420232023
Number:WAEPNumber:WAEP
££
Balance at 1 July----
Granted during the period1,543129--
Forfeited during the period----
Exercised during the period----
Expired during the period----
Outstanding at 30 June1,543129--

Trinomial model attributes a fair value to option itself rather than to the services received.