Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-3162023-06-01falseNo description of principal activity6falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false NI668546 2023-06-01 2024-05-31 NI668546 2022-06-01 2023-05-31 NI668546 2024-05-31 NI668546 2023-05-31 NI668546 c:Director5 2023-06-01 2024-05-31 NI668546 d:Buildings 2023-06-01 2024-05-31 NI668546 d:Buildings 2024-05-31 NI668546 d:Buildings 2023-05-31 NI668546 d:Buildings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI668546 d:LandBuildings 2024-05-31 NI668546 d:LandBuildings 2023-05-31 NI668546 d:PlantMachinery 2023-06-01 2024-05-31 NI668546 d:PlantMachinery 2024-05-31 NI668546 d:PlantMachinery 2023-05-31 NI668546 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI668546 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI668546 d:CurrentFinancialInstruments 2024-05-31 NI668546 d:CurrentFinancialInstruments 2023-05-31 NI668546 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 NI668546 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 NI668546 d:ShareCapital 2024-05-31 NI668546 d:ShareCapital 2023-05-31 NI668546 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 NI668546 d:RetainedEarningsAccumulatedLosses 2024-05-31 NI668546 d:RetainedEarningsAccumulatedLosses 2023-05-31 NI668546 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 NI668546 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 NI668546 c:OrdinaryShareClass2 2023-06-01 2024-05-31 NI668546 c:OrdinaryShareClass2 2024-05-31 NI668546 c:OrdinaryShareClass2 2023-05-31 NI668546 c:OrdinaryShareClass4 2023-06-01 2024-05-31 NI668546 c:OrdinaryShareClass4 2024-05-31 NI668546 c:OrdinaryShareClass4 2023-05-31 NI668546 c:OrdinaryShareClass5 2023-06-01 2024-05-31 NI668546 c:OrdinaryShareClass5 2024-05-31 NI668546 c:OrdinaryShareClass5 2023-05-31 NI668546 c:FRS102 2023-06-01 2024-05-31 NI668546 c:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 NI668546 c:FullAccounts 2023-06-01 2024-05-31 NI668546 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI668546 6 2023-06-01 2024-05-31 NI668546 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: NI668546










3Y Group Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 May 2024

 
3Y Group Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of 3Y Group Limited for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 3Y Group Limited for the year ended 31 May 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of 3Y Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of 3Y Group Limited and state those matters that we have agreed to state to the Board of Directors of 3Y Group Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 3Y Group Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that 3Y Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 3Y Group Limited. You consider that 3Y Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of 3Y Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Sumer Accountants NI Ltd
 
6 Murray Street
Belfast
Co. Antrim
BT1 6DN
19 February 2025
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3Y Group Limited
Registered number: NI668546

Balance Sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
1,126,558
1,201,004

Investments
 7 
30,003
30,003

  
1,156,561
1,231,007

Current assets
  

Cash at bank and in hand
 8 
4,217
4,035

  
4,217
4,035

Creditors: amounts falling due within one year
 9 
(212,718)
(161,018)

Net current liabilities
  
 
 
(208,501)
 
 
(156,983)

Total assets less current liabilities
  
948,060
1,074,024

Provisions for liabilities
  

Deferred tax
 10 
(71,664)
(83,645)

  
 
 
(71,664)
 
 
(83,645)

Net assets
  
876,396
990,379


Capital and reserves
  

Called up share capital 
 11 
30,003
30,003

Profit and loss account
 12 
846,393
960,376

  
876,396
990,379


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Page 2

 
3Y Group Limited
Registered number: NI668546

Balance Sheet (continued)
As at 31 May 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 February 2025.

Murty Young
Director

The notes on pages 4 to 11 form part of these financial statements.

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Page 3

 
3Y Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

1.


General information

3Y Group Limited is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the Company Information section of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

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3Y Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Freehold property
-
2%
Straight line (land is not depreciated)
Plant and machinery
-
15%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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Page 5

 
3Y Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Going Concern

The directors of 3Y Group Limited have reviewed the resources available and believe that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, 3Y Group Limited continue to adopt the going concern basis in preparing the financial statements.

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Page 6

 
3Y Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

4.


Employees




The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
6
6


5.


Turnover

The whole turnover is attributable to the principal activity of the business.
All turnover arose within the United Kingdom.





6.


Tangible fixed assets





Freehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 June 2023
817,028
522,374
1,339,402



At 31 May 2024

817,028
522,374
1,339,402



Depreciation


At 1 June 2023
14,062
124,335
138,397


Charge for the year on owned assets
14,741
59,706
74,447



At 31 May 2024

28,803
184,041
212,844



Net book value



At 31 May 2024
788,225
338,333
1,126,558



At 31 May 2023
802,966
398,038
1,201,004

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Page 7

 
3Y Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

           6.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
788,226
802,966

788,226
802,966



7.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 June 2023
30,003



At 31 May 2024
30,003





8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
4,217
4,035

4,217
4,035


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Page 8

 
3Y Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
140,060
118,060

Other taxation and social security
11,820
5,830

Other creditors
57,838
34,128

Accruals and deferred income
3,000
3,000

212,718
161,018




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Page 9

 
3Y Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

10.


Deferred taxation




2024


£






At beginning of year
(83,645)


Charged to profit or loss
11,981



At end of year
(71,664)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(71,664)
(83,645)

(71,664)
(83,645)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary A shares of £1.00 each
10,000
10,000
10,000 (2023 - 10,000) Ordinary C shares of £1.00 each
10,000
10,000
10,000 (2023 - 10,000) Ordinary D shares of £1.00 each
10,000
10,000
1 (2023 - 1) Ordinary E share of £1.00
1
1
1 (2023 - 1) Ordinary F share of £1.00
1
1
1 (2023 - 1) Ordinary G share of £1.00
1
1

30,003

30,003



12.


Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other
adjustments.

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Page 10

 
3Y Group Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 May 2024

13.


Related party transactions

Advantage has been taken of the exemption under FRS 102 Section 33.1A not to disclose transactions between wholly owned members of the same group.
Key management are considered to be the directors.


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Page 11